Don't make these common and costly tax mistakes

08/16/2013 |

Small businesses often make mistakes when filing their taxes that can cause them to pay more than necessary or lead to other problems. A few common errors include confusing equipment with supplies and trying to deduct more than the maximum $25 allowed for gifts, Tina Samuels writes. Business owners also tend to forget they can take deductions related to Social Security contributions and the purchase of office furniture.

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