Mistakes I saw this tax season

Mistakes I saw this tax season. 1. Forgetting to pay estimated taxes when you're self-employed. A surprise tax bill and panalties isn't fun! 2. Underreporting income from a W-2 or 1099. The IRS matching system is going to show that your reported income doesn't match the income reported by your employer or payor. 3. Trying to deduct personal expenses on your business return. The IRS doesn't care if it's an accident.

Laurel Foster

5/8/20241 min read