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10 ways to pay more taxes and penalties

James Speers - Thursday, May 07, 2015

Okay, 2014 is over, small business owner. “Yea!” you say. Then you start gathering up tax documents, files and receipts all the while making promises to yourself about changing your recordkeeping process. Clichés are clichés for a reason.

 

We know you don’t want to hear about what you could or should have done to make things easier. So instead we’re sharing 10 ways to pay even MORE taxes and penalties.

 

1. Don’t track your business mileage. The $5600 deduction for every 10,000 business miles is only money.

 

2. File your receipts in a shopping bag somewhere. It’s always more fun to reminisce as you sort through them next year.

 

3. Don’t ask for an accountant’s help. Trial and error is more adventurous and entrepreneurial.

 

4. Don’t back up your files. Auditors always understand.

 

5. Don’t file online. Speedy and accurate returns are for chumps.

 

6. Don’t automate your accounting process. Why clutter your computer with real time data?

 

7. Don’t separate business expenses from personal expenses. It’s a lot more fun to do that at midnight the day before you file.

 

8. Forget the home office deduction. Who could blame you for not wanting to take out a tape measure?

 

9. Don’t keep a business calendar of appointments and events. You’ve got a photographic memory.

 

10. File late and pay late. This one’s too obvious.

 

Whatever you do this tax season, don’t lose your sense of humor.


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R.J. Augustine and Associates

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