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5 Bookkeeping Mistakes That Cost Small Businesses at Tax Time
Tax season doesn't create bookkeeping problems. It reveals them. Every April the same five mistakes cost business owners real money — in missed deductions, penalties, and tax-prep bills that are bigger than they had to be. Here's what they are, and how to avoid each one. 1. Running business money through your personal account. When everything mixes together, nobody can tell what's a business expense and what isn't — not you, not your tax preparer, and definitely not the IRS i
Jeffrey Hildenbrandt
4 days ago2 min read
Your 4th-Quarter Checklist: 8 Things to Do Before December
It's October. You've got about 73 days left in the year, and what you do in the next few weeks decides whether January is calm or chaos. Every year I watch business owners scramble in January for paperwork they could have handled in October. Don't be that owner. Here's your checklist. Reconcile everything through September. Every bank account, every credit card. If your books don't match the bank, nothing else on this list works. Chase down missing receipts. That stack in you
Jeffrey Hildenbrandt
4 days ago2 min read
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