Small business owners have so much on their plates that sometimes tasks slip through the cracks. While colleagues will easily forgive an unreturned phone call or a day-late proposal, the IRS won’t let a mistake slide. According to online payroll service SurePayroll, about 40 percent of small businesses incur an average of $845 per year in IRS penalties. Tax mistakes can also invite an audit, which is time-consuming and costly. Learn from other small business owners’ experiences and avoid these common tax mistakes.
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