Simple errors that can cost you money — and how to fix them.

Running a business is hard enough — the last thing you need is avoidable tax issues. Here are the most common mistakes entrepreneurs make:

1. Mixing personal and business expenses
This creates messy books and red flags for the IRS.

2. Forgetting to track deductible expenses
Missed deductions = money left on the table.

3. Not paying quarterly taxes
This can lead to penalties and a surprise bill.

4. Misclassifying workers
Employee vs. contractor matters — a lot.

5. DIY bookkeeping without checking accuracy
Small errors compound fast and affect tax returns.

Fix:
Create a clean system early. Organize receipts, reconcile monthly, and get professional help when needed.