While running your own business may sound ideal, there are some IRS pitfalls that many unwitting entrepreneurs find themselves entangled in. A recent Forbes article titled: “Entrepreneurs: Don’t Make These Mistakes with the IRS” highlights the three biggest mistakes people make that bring on the IRS heat and scrutiny.
Mistake #1 – Playing Fast-And-Loose With Compliance And Recordkeeping
Questionable bookkeeping practices can trigger an IRS audit. Thankfully, there are many tools such as accounting systems like Quickbooks that can organize and help prepare tax returns and estimated payments and deductions. Our New England CPA Firm works with many small businesses to keep