Running a business is exciting — but tax mistakes can quietly drain profits and trigger IRS trouble. At VV Taxhouse, we see the same missteps cost business owners thousands of dollars every year.

Here are the 7 most costly tax mistakes and how to avoid them:

1. Choosing the Wrong Business Entity

Your business structure determines your tax bill. Many owners default to an LLC without knowing:

• When an S-Corp saves self-employment tax
• When a C-Corp is better for long-term planning
• When sole proprietor status is costing too much

✅ Fix: Review your entity annually. Tax strategy must evolve with your income.

2. Overpaying Self-Employment Tax

If you earn over $70K in net income, you may be paying unnecessary tax.

✅ Fix: Payroll optimization lowers FICA while keeping you compliant.

3. Missing High-Value Deductions

Most business owners claim the “easy” deductions — and miss strategic ones like:

• Accountable plans
• Depreciation strategies
• Retirement sheltering
• Advanced business credits

✅ Fix: Deductions follow planning, not bookkeeping.

4. Payroll Errors

Improper payroll can cause:

• IRS penalties
• State compliance issues
• Lost deductions

✅ Fix: Payroll should be set up for tax efficiency, not just wage payment.

5. No Quarterly Tax Planning

Late estimates = penalties + stress.

✅ Fix: Pay ahead, not catch up.

6. Poor Accounting Records

Messy books cause:

• Overstated income
• Undetected losses
• Audit exposure

✅ Fix: Clean books = clean returns.

7. Filing Without Strategy

Many tax returns are filed — but not optimized.

✅ Fix: Filing is compliance. Planning is savings.

How VV Taxhouse Helps Clients

We offer:
✅ Strategic tax planning
✅ Payroll and state compliance
✅ Entity restructuring
✅ Multi-state filings
✅ Audit risk reduction
✅ IRS representation
✅ CFO-level advisory services

Ready to Stop Overpaying?

If you're a:
✔ Business owner
✔ Freelancer
✔ Investor
✔ Consultant
✔ Real-estate professional

Your tax savings are waiting.

📞 Schedule a consultation
🌐 vvtaxhouse.com
📧 [email protected]