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7 Big Tax Mistakes Business Owners Make & How to Fix Them

LyfeAccounting

So as mentioned before, pay at least 110% of the prior year’s tax and that should save you from failure to pay penalties. Tax Mistake #6: Having inactive or dead LLC. Did you file tax returns during those years it was inactive? Tax Mistake #7: Failing to be taxed as an S-Corporation. Don’t feel bad.

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President Trump vs Biden Tax Plan Proposal in 2020

LyfeAccounting

?. President Trump vs Biden Tax Plan. With the US presidential election is right around the corner, and since we’re an accounting firm that loves taxes, it’s only right that we make a post discussing President Trump’s Tax Plan vs Former Vice President Joe Biden. Individual Tax Rates. …and more.