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4 tax mistakes business owners make and how to avoid them

from Forbes

"I'm proud to pay taxes in the United States," ukulele-wielding entertainer Arthur Godfrey once said. "The only thing is, I could be just as proud for half the money." Some business owners take the sentiment too far. They fall for a misguided tax scheme, get in trouble with the IRS and pay twice the money rather than half. There aren't enough ukulele gigs in the world to make up for that. It's not always easy to distinguish between smart tax planning, aggressive tax strategies and downright tax evasion. With the help of a trusted adviser, a business owner can review a tax strategy and decide whether to proceed. more

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