The 5 Most Common Small Business Filing Mistakes To Avoid.

Stacy Abrams

Filing taxes for your small business can be daunting and confusing. You need to file correctly so you don’t get in trouble with the IRS, but there are a lot of rules and processes to keep track of.  

It’s time to simplify your taxes! Let’s go through the most common filing mistakes small business owners make, so you can avoid them this tax season (and the rest of the year).  

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1. Missing or incorrect information

One of the simplest mistakes is forgetting to fill out part of your tax form or entering incorrect information. Even one error could flag an audit or require you to re-file, which can cause late fees and penalties.  

The most common mistakes on tax returns include: 

  • Incorrect or missing SSN or employer ID numbers
  • Misspelled names 
  • Incorrect filing status
  • Computation errors for taxable income, withholding, and deductions
  • Withholding or incorrect estimated tax payments 
  • Failing to sign/date return  



2. Not filing or paying on time

If you miss the filing deadline for taxes, your business could face a 5% penalty per month. This fee will increase each month until you file the return. If you neglect to pay your taxes, the IRS will charge 6% interest and a late payment penalty of about .5% each month after the deadline.  

If you need extra time to pay for your taxes, you should file for an extension. Don’t miss deadlines, or you’ll end up with even more owed money on your plate! 


3. Incorrect expense tracking

The most important way to prepare your taxes for April is thorough record keeping throughout the year. Failing to properly track your expenses can be one of the costliest parts of your taxes (and the biggest headache).  

If you don’t track and categorize expenses, you could miss out on deductions that could save your business a lot of money. There are a lot of deductions you may qualify for like furniture, supplies, advertising, equipment, licenses, mileage, and more.  

Worse yet, inaccurate tracking could land you in hot water if the IRS audits you and you can’t substantiate expenses.  

Make sure you keep all receipts for expenses, payroll, sales, and other costs. This makes potential audits easier and ensures you’re receiving any applicable tax breaks.  

4. Not separating business and personal

Small business owners often pay out of pocket for a lot of business expenses. Blurring this line can actually create a problem when tax time comes around. It can be harder to prove business deductions, and you may misfile between your personal and business.  

To avoid this, you should separate expenses by using separate bank and credit accounts, tracking and storing receipts separately, and paying yourself a salary rather than using business accounts to pay for personal expenses.  

5. Not working with a professional

A lot of small business owners want to cut the expense of taxes by using tax software to do it themselves. This can work for smaller businesses, but you could still miss areas or deductions that a professional would catch. In most cases, working with a professional will actually save you a lot of time, money, and errors.

The tax process can be complicated and painful, so don’t do it alone. Start by downloading our Ultimate Small Business Tax Checklist to get started. The checklist walks you through step-by-step to organize your business taxes all-year long, so you can better avoid errors and streamline the filing process. Download the checklist here. 


About the Author

Stacy Abrams is a founder of TaxFaqs. When she’s not serving her clients, she geeks out on board games, cider, and challenging her friends to top her awesome karaoke skills. She calls Bloomington, Minnesota home.

By playing the game you not only show the world your adventure credentials, you also become a champion of sustainable travel. Here's a run-down on the basics of game play and some insider tips on how to maximise your personal score - and the love you give our planet.


points and patches


EARNING POINTS AND PATCHES Every adventure you find on the Adventure Junky App has been allocated a Point Score, and one or more Morale Patches. Complete the adventure and you earn the Points and Patches, and progress up the Leaderboard. You might play against your friends for bragging rights, or the entire world for the title of Earth's #1 Adventure Junky. How are Points allocated to each adventure you may ask? It's a secret... but as a general rule of thumb, the 'higher the experience' and 'lower the impact', the more points an adventure is worth.


number one adventure junky


CHECK YOUR GLOBAL RANKING Visit your Profile Page, by tapping the Profile Icon in the top left of the main menu. It's here you can check your global ranking. Keep in mind that when you first start playing, there might be many players with the same amount of points as you - so you will share the same global ranking. As you start to complete adventures, you'll get a much clearer picture of your true global ranking.


adventure patches


CAN YOU COLLECT EVERY MORALE PATCH? Morale Patches are like Scouts Patches - they acknowledge achievements in a specific type of activity or adventure. You can see all the Patches available, learn what they all symbolise, and how many you've scored on your Profile Page. Try to collect the complete set, including the elusive Number 1 Patch, for reaching the top of the Leaderboard.


world's number 1

WHO'S WHO ON THE GLOBAL LEADERBOARD Tap the Trophy Icon in the main menu to visit the Overall Leaderboard. It's here you can see every player in the game, provided they have added a Profile Picture. You can also use the tabs in the top menu to see the leading destinations, and the Leaderboard we've created exclusively for your Tribe (people you are following, and those following you).


find your nearest adventure

POWER TIP: FIND YOUR NEAREST ADVENTURES Depending on where you live in the world, often the fastest way to start scoring points is by looking for nearby adventures. Tap the Map Pin Icon and we'll provide you with a map view, and or list of your nearest adventures to start picking off, and getting those points and patches flowing.


I've done this adventure


CHECK IN | I'VE DONE THIS ADVENTURE There's several ways in which you can claim your points for completing an adventure. The first is to 'Check In' using the GPS locator in your device. Note this isn't always available for things like Scuba dives for obvious reasons :) You can also claim points for adventures you've done in the past, which means you can shoot up the Leaderboard pretty quickly. All you need to do is tap 'I've done this' and send us some proof - normally a picture or two of yourself on the adventure.

POWER TIP: I'VE DONE THIS Try using the Map to scan places you visited in the past and find adventures you might have already done faster.


become a co-creator of the app

POWER TIP: ADD AWESOME ADVENTURES Become a co-creator of the Adventure Junky App by adding your adventures. Not only will your earn points for adding them, but also every time someone else likes or completes them, you'll earn bonus points. If you want to give yourself the best chance of getting your adventures accepted take a look at this blog post.


refine your search


POWER TIP: FILTER YOUR SEARCHES FOR MAXIMUM POINTS Let's say you've been using the app to search for a particular type of adventure, or a specific destination. Try applying a filter to your results and find out which are nearest you, or have the highest points.


follow adventure junky


POWER TIP: PAY IT FORWARD AND FOLLOW OTHERS The more you play the game the more you'll find hidden rewards around every corner. Try spending some time on the Leaderboard and following some of your favourite adventurers - by tapping the Follow Icon. If they follow you back, you will earn some bonus points. Yes we are the RSVP of adventure! 

YOU ARE CLEARLY THE COMPETITIVE TYPE!
HERE'S 10,000 POINTS FOR YOUR TROUBLES :)


earth's adventure travel game

Partner with us.

The Adventure Junky App is an innovative new tool for travel marketers designed to capture and hold the attention of the modern day traveller. If you are a tour operator, destination marketer, lifestyle or outdoor product brand read on...



GENERATE HIGH QUALITY LEADS Adventure Junky uses gamification to incentivise its growing, global community of adventure travelers to achieve their travel goals - the same way FitBit does for fitness, and Strava does for cycling. Tour Operators, Destination marketers and Accomodation providers can access this highly-engaged audience with an Adventure Junky Partnership Package.


icland


BY PURCHASING AN ADVENTURE JUNKY PARTNERSHIP PACKAGE YOU CAN:

  • Showcase your experiences on the Adventure Junky App  
  • Gain access to 120,000+ highly-qualified, high-yield travellers in key global source markets  
  • Increase traffic to your website, experience and booking pages, social sites  
  • Generate high-quality, new customer leads, and increase sales 
  • Get in on the ground floor of an innovation in sustainable travel, set for expansion


WHAT ARE PARTNERSHIP PACKAGES AND HOW DO THEY WORK? Partnership Packages are our way of showcasing your adventures (trips/tours/attractions) on the Adventure Junky App. The way it works is simple - purchase a package that suits the size of your business or organisation and we'll do all the work in onboarding your content and pushing them out to our community. You can list a single adventure or up to 3, 6, 12, 25 or 50 adventures in a Package. We also love bespoke partnerships, so if you have an idea, let's talk.

SCHEDULE A VIDEO CHAT TO DISCUSS A PARTNERSHIP

earth's adventure travel game

“As passionate travellers we have a deeper appreciation of the beauty of our planet than most - yet through our travels, we’re also producing roughly 3x the CO2 emissions of the average person.”

FUCHSIA CLAIRE SIMS, ADVENTURE JUNKY CO-FOUNDER


climate positive citizen*


BECOME AN ADVENTURE JUNKY OFFSETTER Take responsibility for your carbon footprint and join the community of Adventure Junky Offsetters striving to reach our collective goal of planting 10 million trees by the end of 2020. For only US $3.50 per week, offset all your personal emissions, plus a buffer for travel that covers you for up to several domestic and international trips per year*. Learn more about the program or sign-up today.

SIGN UP TO BE AN OFFSETTER

rafting in tyrol


ACCESS THE EARTH'S GREATEST ADVENTURES Join a community of conscious and responsible travellers, tour operators and destination marketers, commited to making tourism a force for good. The free Adventure Junky App features over 1,000 adventures in 100 countries, hand-picked for their low impact and high experience.


icland


PARTNER WITH US Attention Tour Operators and Destination marketers: Showcase your experiences on the Adventure Junky App and gain access to 120,000+ highly-qualified, high-yield travellers in key global source markets. We also work with like-minded outdoor lifestyle and product brands to advance thier specific missions. Learn more about our Partnership Packages or schedule a chat.


*$US. Based on the assumptions that the average resident in the western world emits 10-12 metric tonnes of CO2 annually, and greenhouse gas emission of 1/4 tonne of CO2 per hour of flying. Note: Carbon offsetting alone is not enough to solve the climate crisis, it is a tool to be used with a combination of lifestyle choices as we transition away from carbon - for good.  

“We created the Offsetter plan specifically for the frequent traveller, who cares about the planet and wants to become climate positive.”

FUCHSIA CLAIRE SIMS, ADVENTURE JUNKY CO-FOUNDER



LET'S COLLABORATE FOR THE CLIMATE Take responsibility for your carbon footprint for only $3.50 a week. Offset all your personal emissions, plus a buffer for travel that covers you for up to several domestic and international trips per year*. 

*$US. Based on the assumptions that the average resident in the western world emits 10-12 metric tonnes of CO2 annually, and greenhouse gas emission of 1/4 tonne of CO2 per hour of flying. Note: Carbon offsetting alone is not enough to solve the climate crisis, it is a tool to be used with a combination of lifestyle choices as we transition away from carbon - for good.  



SEE YOUR COMMITMENT GROW AND SUPPORT THE COLLECTIVE GOAL Each month our climate partner Eden Projets will plant 48 or more trees on your behalf. Track your growing 'forest' in your profile, and at the same time contribute to the Adventure Junky community's collective goal to plant 10 million tress in 2020.



MAKE A TANGIBLE DIFFERENCE TO THE FUTURE OF OUR PLANET Each month you'll also stop 3 tonnes of CO2 from being released into the atmosphere through investment into fully certified Gold Standard projects such as renewable energy generation, community clean water and carbon efficiency initiatives.


OUR TRUSTED CLIMATE PARTNERS


PROJECTS YOU WILL BE SUPPORTING

Madagascar is more than just an island from an animated movie. It’s a nation with over 200,000 species of plants and animals that don’t exist anywhere else in the world. But more than 90% of Madagascar’s original forests have been destroyed, displacing entire animal species and taking away the Malagasy’s ability to farm and live on the land. Entire mangrove estuaries are gone, leaving the bare earth to wash away into the sea. Your funds support Eden Reforestation Projects as they continue to reforest the island. Photography credit: Eden Reforestation Projects


The Akbuk Wind Power Plant has 15 installed wind turbines with a total installed capacity of 31.5MW. The project has displaced fossil-fuel generated energy in a rural region of Turkey, creating jobs during the construction phase and ongoing maintenance.


earth's adventure travel game

“We believe that travel should contribute just as much to the wellbeing of the traveller, as it does to the people and places they visit.”

FUCHSIA CLAIRE SIMS, ADVENTURE JUNKY CO-FOUNDER


Co-founded by Fuchsia Claire Sims and Nigel Malone, Adventure Junky aims to influence the future of travel: 

  • through the Adventure Junky App's readily-accessible sustainable travel experiences; 
  • by creating tangible solutions to the most pressing problems arising from tourism, through both awareness, education and offsetting programs.  

WHAT YOU CAN DO TO TRAVEL MORE SUSTAINABLY:

  • Seek out tour operators, accomodation, carriers with strong environmental and social credentials, there’s plenty on the Adventure Junk App.
  • Try to fly less, instead travel by train or human power, when you absolutely have to fly ensure you are offset ample emissions for your travel.
  • Remember your ability to travel freely and widely is a privilege, not a right. Travel is out of reach for a large percentage of the world’s population. 
  • Eat, shop, and live like a local to ensure your money stays in the community and your experience is authentic.
  • Carry a reusable water bottle. Avoid single-use plastics, not every country has the waste and recycling infrastructure that you do back home.
  • Become carbon-conscious. Seek to understand your carbon footprint. For every metric ton of carbon dioxide released into the air, three square meters of Arctic sea ice disappear.
  • Carbon offsetting is only part of the answer to solving the climate crisis. Lifestyle choices, including flying a lot less, are equally important.
  • Look for ways to give back, travel should be a win-win and improve the wellbeing of the people and places you visit, just as much as your own.
  • Look for adventures that are a little close to home, or those you can travel to by train, electric or human power.
  • Be an animal-friendly traveller. If you can ride, hug or have a selfie with a wild animal, then don’t do it. Animals are not entertainers.
  • Travel off season, avoid the crowds and popular sights. Wander where the WiFi is weak, guaranteed you’ll make a deeper connection.
  • Stay in the moment, rather than trying to capture it for Instagram. Plus more people die from selfies than shark attacks.  

earth's adventure travel game

Anatomy of an Adventure

The Adventure Junky App has brought together the coolest, greenest adventure travel experiences on earth. In this tutorial we'll drill down into adventures, but don't forget to get familiar with the main menu icons, or learn how to play to win-win!  


points and patches


POINTS AND PATCHES Each Adventure is allocated both Points and Patches. Points are calculated using a secret algorithm, that takes into account every aspect of the adventure, from the activities involved through to how sustainable the adventure is. Patches are more like Scouts patches, in that they acknowledge achievements in a specific type of adventure. For each adventure you complete (or have completed) you'll be awarded Points and Patches. The more the merrier!


adventure galley


IMAGE GALLERY We're a big fan of awesome imagery, so most of our adventures will have a gallery of images for your viewing pleasure. Simply swipe the main image left to see more pictures. You'll also notice the carousel indicator in the bottom right of the image, that let's you know how many images, and where you are in the gallery.


I've done this adventure


CHECK IN | I'VE DONE THIS ADVENTURE There's several ways in which you can claim your points for completing an adventure. The first is to 'Check In' using the GPS locator in your device. Note this isn't always available for things like Scuba dives for obvious reasons :) You can also claim points for adventures you've done in the past, which means you can shoot up the Leaderboard pretty quickly. All you need to do is tap 'I've done this' and send us some proof - normally a picture or two of yourself on the adventure.


share an adventure


SHARE | ADD TO YOUR BUCKETLIST Love the look of an Adventure? First tap the 'Bucketlist' Icon. This will ensure it is saved to your personal Bucketlist and you can revisit it anytime, by simply tapping the same icon on the main menu. Want to tell the world about your dream or next adventure, or perhaps find an adventure buddy to join you - then Share it to the channel of your choice, by tapping 'Share Icon'. 


full screen map

ADVENTURE MAP Each adventure comes with a map - naturally! Tap the 'Expand Icon' to open the map to full screen. Pinch to zoom, swipe and scroll to anywhere in the world from this single screen. Tap the 'Contract Icon' to return to the Adventure.


brought to you by

BROUGHT TO YOU BY... YOU! A large proportion of our adventures have been added by you - members of the Adventure Junky Tribe. And when they are, we like to give you the credit. Tap on the profile picture and you'll be taken to the profile page of the user that added the adventure. Yes we are the RSVP of adventure! 


tages and search

FIND SIMILAR ADVENTURES At the base of each adventure we list the categories associated with that adventure. Tap on any of them and you'll be taken to every adventure in that same category. If you are super observant you'll notice a new 'Globe' Icon appears in top main menu. Tap this and you'll be taken to a map view of all adventures in that category.



Contact

earth's adventure travel game

What's on the Menu? 

The Adventure Junky App has brought together the coolest, greenest adventure travel experiences on earth. To get you up and adventuring let's start with the main menu icons. Once you've got the hang of them, it's time to discover the anatomy of an adventure, and how you can play to win-win!  


dreamfeed

HOME AKA DREAMFEED If you ever want to find your way home, and back to the DreamFeed (the latest and greatest adventures that have been added to the app), just look for the Teepee/Tent Icon, and you will be home before you know it.


find your nearest adventure

FIND ADVENTURES NEAR YOU! Just tap the Map Pin Icon and we will automatically zoom into your location and let you know the nearest and coolest adventures. Of course that doesn't stop you zooming and scrolling for epic adventures anywhere else in the world too.


adventure preferences


ADD YOUR BEST PROFILE PIC Tap the Profile Icon to establish your personal adventure story. Set your adventure preferences (activities and destinations you want to see), plus all your social handles - oh and of course some epic profile pics - not just so you look good, but a Profile pic is mandatory if you want to appear on the Adventure Junky Leaderboard.


find your next adventure


SUPER FUNCTIONAL SEARCH Tap the Magnifying Glass Icon to perform a functional search. We've got a thousand plus adventures, in over 100 incredible destinations, and 100 adventure activity - types from the soft to the extreme. You can also search by Patch (think of patches as themes) or for other Adventure Junkys if you want to track down a friend or adventurer crush.


become a co-creator of the app

ADD YOUR ADVENTURES Become a co-creator of the Adventure Junky App by adding your adventures. Not only will you earn points for adding them, but also every time someone else likes or completes them. If you want to give yourself the best chance of getting your adventures accepted take a look at this blog post


tick off your bucketlist

TICK OFF YOUR BUCKETLIST It's easy to add adventures to your Bucketlist. Simply tap the Bucket Icon on any adventure and it will be automatically added to your personal Bucketlist, accessible from the main menu. All your favourite adventures at your fingertips!


world's number 1

PLAY AGAINST YOUR FRIENDS OR THE WORLD Tap the Trophy Icon and you'll be taken to the Adventure Junky Leaderboard. Here you'll find adventurers from around the globe, including yourself if you've added a profile picture. You can also take a look at the Destination Leaderboard, and a Leaderboard just for your Tribe (everyone you are following and that is following you).


refine your search


FILTER FOR CRYSTAL CLEAR RESULTS With over 1,000 adventures to choose from, even search results can benefit from a filter to fine tune the results. Tap the Filter Icon and you can prioritise those adventures nearest you, with the most points, or those highly recommended by the Adventure Junky Founders - the Peak Adventures of 2019


go back adventures


WHEN ELSE FAILS GO BACK! If you ever run into trouble and get completely lost just keeping tapping the Go Back Icon! Eventually you'll end up back at the DreamFeed, and can start all over again! Oh and you can also try tapping the Teepee/Tent Icon, that will take you home too :)



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