Most Common Tax Mistakes Small Businesses Make, Part 2

Small businesses can end up paying more in taxes because of common tax mistakes they make. This is a very common problem that we see here at Merriman Tax Services, and one that we work hard to correct.

Our tax accountants work hard to ensure your taxes are correct. We'll ensure you are compliant, that all of your state, local, and federal taxes are paid, and that everything is allocated correctly. You have access to all of the financial data you will need to gauge the financial health of your business, and we can help you with that as well. Our mission is to ensure your small business accounting and tax needs are being met. Below, we'll take a look at a few more common tax mistakes small businesses make. Reach out to get started today!



Missing Deductions

With such a complicated tax code as the United States boasts, is this small business accounting mistake any wonder? There are so many rules, stipulations, and exceptions that unless you are an accountant who keeps up with the changing tax laws, you most likely will miss out on thousands of dollars of deductions you could be making. When you partner with Merriman Tax Services, we prioritize your deductions in order to save you the most money. Reach out to learn more today!


Payroll Mistakes

Paying employees is harder than you might think not only due to the applicable tax laws, but also due to the labor laws. One common mistake we see often is misclassifying your employees to be contractors instead of employees. This can lead to a slew of fines and penalties in a tax audit. Another common mistake is failing to remit payroll taxes to the appropriate authorities. Partner with our small business tax preparation services to learn more today!


Poor Bookkeeping

Many business owners make the mistake of thinking that they can do their own books, taxes, and the like. However, there is definitely a base knowledge involved of accounting that should be thoroughly understood before you undertake your own books. From misappropriating expenses and income to failing to reconcile your checkbook every month, Merriman Tax Services sees an array of small business accounting errors. Luckily, we offer accounting cleanup services for your small business. Our experts can come in and fix your accounting error and get you back on track for success.


Our mission here at Merriman Tax Services is to ensure we handle your bookkeeping, taxes, and payroll efficiently and without errors. We offer advice to help you make good sound financial decisions. Our bookkeeping services are accurate and timely. And our staff is efficient with our services. We make sure you do not miss any important tax filing deadlines, and we maximize your deductions in every way we can. In sum, we look out for your books, so you can keep offering your amazing goods and services. Contact us for small business accounting today!