As a business owner or manager, there are two things that create particular stress points in connection with room for error, financial loss, and legal liability: payroll and taxes. Did you know payments to part-time, full-time, or contract workers are deductible, but that if you use taxes withheld from employees to fund your operations, you are personally liable for paying back the IRS with possible added penalties? Common Payroll Mistakes: Setting up your payroll incorrectly Falling behind on tax payments and filings Miscalculating overtime Running payroll too late Forgetting to keep records Bad bookkeeping Common Tax Preparation Mistakes: Incorrectly reporting [...]