Tax filing issues are often problematic for small business owners. This is often due to the simple fact that they have not kept up to date on current tax laws. One issue that can be particularly troublesome is business deductions.
There are probably more jokes about taxes than there are tax laws. It is no secret that everyone wants to pay as little taxes as possible and will do anything to achieve that goal. Unfortunately, you may be tempted to do so through fraudulent means. No matter how common these practices are, they are illegal and can lead to severe consequences that may ruin your business. Avoid the following penalties and take a safer but just as satisfying approach to your taxes instead.