The worst mistake a business owner can make

Posted on Posted in Accounting, Small Business, Taxes

The worst mistake a small business owner can make is to pay employee wage taxes that were withheld from employee salary. The second worst mistake, in my observation, is to try to handle the problem yourself. I see cases where the business owners or managers are damaged for more than a decade as a result of mishandling this problem.

IRS has always been tough on this issues but is now stepping up enforcement even further.

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