Let’s be honest most business owners started their company because they love what they do, not because they love spreadsheets.
I’ve seen many hardworking entrepreneurs in our community try to handle their own books, only to realize later that things have become a bit of a mess. It’s nothing to be ashamed of! But those small errors can lead to big headaches during tax season.
Here are 5 things I see most often:
- Mixing Personal and Business Expenses: It’s easy to use the wrong card at the grocery store, but it makes your tax deductions a nightmare.
- Forgetting to Save Receipts: If it’s not documented, the IRS might not count it.
- Not Reconciling Bank Statements: If your bank says one thing and your books say another, you don’t truly know your profit.
- Doing it all at the last minute: Stress leads to mistakes.
- Trying to do it alone: Sometimes, your time is worth more than the cost of a professional.
If any of these sound familiar, don’t worry. My goal at Hasib Accounting LLC is to take this weight off your shoulders so you can get back to growing your business.
