Avoid these problems so you don’t start tax season in disaster mode!
- Falicia Newsome
- Oct 12
- 2 min read
🚨 The 5 Mistakes That Can Sink Your Business Before Tax Season Even Starts 💥
Running a business is rewarding — but it’s also full of financial landmines if you’re not paying attention. 👀
As tax season approaches, small mistakes can turn into big (and expensive) headaches. Let’s talk about the top five traps that could sink your business before tax time hits — and how to stay ahead of them. 🧾💡
1️⃣ Ignoring Bookkeeping Until the Last Minute 🕐
If you’re waiting until January to “get your books together,” you’re already behind. 😅
Disorganized books mean missed deductions, inaccurate filings, and extra stress.
✅ Tip: Schedule monthly check-ins with your bookkeeper or use accounting software like QuickBooks to stay on track.
2️⃣ Mixing Business & Personal Money 💳
Using one bank account for everything? 🚫 That’s mistake #2.
It’s messy, confusing, and could trigger an IRS red flag.
💼 Keep it clean — open a separate business account and dedicate one debit or credit card for business-only expenses.
3️⃣ Missing Out on Deductible Expenses 💸
Every dollar you don’t track is a dollar you can’t deduct.
From mileage 🚗 to office supplies 🖊️ to subscriptions 📱 — they all add up!
💡 Tip: Snap photos of receipts or use an app to log expenses weekly.
4️⃣ Forgetting Quarterly Tax Payments 📅
Skipping estimated taxes means late fees, interest, and unnecessary stress. 😩
🕓 Set calendar reminders or automate payments directly through the IRS website.
Small payments throughout the year beat one big panic payment in April!
5️⃣ Skipping Professional Help 👩🏽💼
DIY might sound cheaper — until it isn’t.
One wrong entry could cost you thousands in penalties or lost deductions. 💰
Work with a trusted tax professional who knows the ins and outs of small-business finances (like Newsome Notary & Professional Tax Services 😉).
✨ Bottom Line: The earlier you prepare, the smoother your season goes.
Clean books, organized receipts, and proactive planning = less stress, more success.
Let’s make this the year you win at tax season. 🙌
📞 727-426-0795
#TaxTalkWithFalicia #BusinessBossMoves #TaxSeasonReady #EntrepreneurLife #SmallBusinessTips #LetsGetIt
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