8 Small-business Tax Preparation Mistakes to Avoid

Tax time brings with it a sense of urgency and pressure, and mistakes inevitably follow. Tax deductions go unclaimed, paper trails go awry and costly surprises can result.

Here are eight of the most common tax preparation mistakes that small businesses make, plus some tips for mitigating them.

Start a business last year? Write off the expenses

New business owners can write off the expense they incurred before technically opening their doors for business. Don’t overlook this important deduction.