Small Enterprise Taxes - five Mistakes That Could Mean an IRS Audit

Everybody in business needs a bank account.

Banks love small businesses!

If you are in business how do you choose the right bank for you? Then choose a bank that has many cash points near your business and home.

Do you need a business credit card? Many banks offer a free business credit card for the first year or sometimes even two. What about a business plan? Some banks even give you free business software to help you make business plans!

As your business needs change why not change your bank account?

Best Small Business Bank Account

Here are some mistakes that could dramatically increase your chances of IRS Audit:

(1) Failure to report Form 1099 income.

If you have a retail business, you need to report an inventory. The rules are confusing for S Corporation shareholders and medical insurance and medical expenses.

(5) Not making the right decisions on your first tax return.