{"id":1214,"date":"2020-03-24T09:54:20","date_gmt":"2020-03-24T14:54:20","guid":{"rendered":"https:\/\/northone.com\/blog\/?p=1214"},"modified":"2025-03-02T15:33:05","modified_gmt":"2025-03-02T20:33:05","slug":"filing-business-taxes","status":"publish","type":"post","link":"https:\/\/www.northone.com\/blog\/taxes\/filing-business-taxes","title":{"rendered":"7 Mistakes to Avoid When Filing Business Taxes"},"content":{"rendered":"\n<p><a href=\"https:\/\/www.northone.com\/blog\/small-business\/business-tax-preparation\">Tax season<\/a> can be stressful for small business owners and freelancers, but it doesn\u2019t have to be. While no one looks forward to filing taxes (except maybe your accountant), avoiding these seven common mistakes can help make tax season much smoother. With the 2025 tax deadline approaching, now is the time to get prepared.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_Filing_through_the_wrong_form_of_business\"><\/span>1. Filing through the wrong form of business<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Before you file your taxes, it\u2019s crucial to make sure you&#8217;re using the right business structure. Your business type determines what forms you&#8217;ll need, how much you\u2019ll pay in taxes, and whether your profits are taxed at the business level or passed through to your personal return.<\/p>\n\n\n\n<p>Here\u2019s a breakdown of the most common business structures and what to expect at tax time.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Sole_Proprietorship\"><\/span>Sole Proprietorship<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A <a href=\"https:\/\/www.northone.com\/blog\/taxes\/sole-proprietorship-taxes?highlight=partnership+taxes\">sole proprietorship<\/a> is the simplest and most common business structure for solo entrepreneurs. It\u2019s easy to set up, and your business income is reported directly on your personal tax return\u2014no separate business tax filing required. However, you\u2019re personally responsible for all debts and liabilities.<\/p>\n\n\n\n<p>A sole proprietorship might be right for you if:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>You&#8217;re the only owner of the business.<\/li>\n\n\n\n<li>You want full control over financial decisions.<\/li>\n\n\n\n<li>You prefer a simple tax filing process.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tax_Forms_Youll_Need\"><\/span>Tax Forms You\u2019ll Need:<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.irs.gov\/forms-pubs\/about-form-1040\">Form 1040<\/a> + <a href=\"https:\/\/www.irs.gov\/forms-pubs\/about-schedule-c-form-1040\">Schedule C<\/a>: Reports your business income and expenses.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.irs.gov\/forms-pubs\/about-form-1099-nec\">Form 1099-NEC<\/a>: Required if you paid independent contractors more than $5,000.<\/li>\n<\/ul>\n\n\n\n<p><strong>2025 Update<\/strong>: The IRS now requires most freelancers and small businesses to file Form 1099-NEC electronically if issuing more than 10 forms.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Partnership\"><\/span>Partnership<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A <a href=\"https:\/\/www.northone.com\/blog\/taxes\/partnership-taxes?highlight=partnership+taxes\">partnership<\/a> is when two or more people own a business together. Unlike corporations, partnerships don\u2019t pay taxes at the business level \u2014 profits and losses \u201cpass through\u201d to the partners\u2019 individual tax returns.<\/p>\n\n\n\n<p>A partnership might be right for you if:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>You\u2019re starting a business with one or more partners.<\/li>\n\n\n\n<li>You want to share startup costs and financial responsibilities.<\/li>\n\n\n\n<li>You\u2019re comfortable being personally responsible for your partner\u2019s financial decisions.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tax_Forms_Youll_Need-2\"><\/span>Tax Forms You\u2019ll Need:<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.irs.gov\/pub\/irs-pdf\/f1065.pdf\"><strong>Form 1065<\/strong><\/a>: Reports the partnership\u2019s income and expenses.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.irs.gov\/pub\/irs-pdf\/f1065sk1.pdf\"><strong>Schedule K-1<\/strong><\/a><strong> (Form 1065)<\/strong>: Sent to each partner to report their share of income on their personal return.<\/li>\n\n\n\n<li><strong>Form 1040<\/strong>: Used by each partner to file their personal income taxes.<\/li>\n<\/ul>\n\n\n\n<p>&nbsp;<strong>2025 Update: <\/strong>The IRS now requires partnerships with more than 100 partners to file their returns electronically.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"S_Corporation_S_Corp\"><\/span>S Corporation (S Corp)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>An <a href=\"https:\/\/www.northone.com\/blog\/taxes\/s-corp-taxes?highlight=partnership+taxes\">S Corp<\/a> is a tax election that allows businesses to avoid double taxation\u2014profits pass through to owners, who report them on their personal tax returns. However, owners who work for the business must pay themselves a \u201creasonable salary\u201d subject to payroll taxes.<\/p>\n\n\n\n<p>An S Corp might be right for you if:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>You want to avoid corporate-level taxation.<\/li>\n\n\n\n<li>You want to reduce your self-employment tax burden.<\/li>\n\n\n\n<li>Your business has fewer than 100 shareholders (all must be U.S. citizens or residents).<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tax_Forms_Youll_Need-3\"><\/span>Tax Forms You\u2019ll Need:<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.irs.gov\/pub\/irs-pdf\/f2553.pdf\"><strong>Form 2553<\/strong><\/a>: To elect S Corp status (must be filed within 2 months and 15 days of the start of the tax year).<\/li>\n\n\n\n<li><a href=\"https:\/\/www.irs.gov\/forms-pubs\/about-form-1120-s\"><strong>Form 1120S<\/strong><\/a>: The S Corp\u2019s income tax return.<\/li>\n\n\n\n<li><strong>Schedule K-1 (Form 1120S)<\/strong>:\u00a0 Reports each shareholder\u2019s share of business income.<\/li>\n<\/ul>\n\n\n\n<p><strong>2025 Update:<\/strong> The IRS is increasing scrutiny on S Corps that pay low salaries to owners to reduce payroll taxes \u2014 be sure your salary is \u201creasonable\u201d based on industry standards.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Limited_Liability_Company_LLC\"><\/span>Limited Liability Company (LLC)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>An <a href=\"https:\/\/www.northone.com\/blog\/accounting\/llc-taxes\">LLC<\/a> combines the liability protection of a corporation with the flexibility of a sole proprietorship or partnership. By default, a single-member LLC is taxed like a sole proprietorship, while a multi-member LLC is taxed like a partnership. However, LLCs can elect to be taxed as an S Corp or C Corp for different tax benefits.<\/p>\n\n\n\n<p>An LLC might be right for you if:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>You want liability protection without the complexity of a corporation.<\/li>\n\n\n\n<li>You want flexibility in how profits are distributed.<\/li>\n\n\n\n<li>You\u2019re okay with paying self-employment taxes on all profits (unless electing S Corp taxation).<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tax_Forms_Youll_Need-4\"><\/span>Tax Forms You\u2019ll Need:<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Single-Member LLC (default):<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Form 1040 + Schedule C \u2013 Reports business income and expenses.<\/li>\n<\/ul>\n\n\n\n<p>Multi-Member LLC (default partnership taxation):<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Form 1065 \u2013 Reports business income.<\/li>\n\n\n\n<li>Schedule K-1 (Form 1065) \u2013 Reports each owner\u2019s share of income.<\/li>\n<\/ul>\n\n\n\n<p>LLC taxed as an S Corp:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Form 1120S \u2013 S Corp tax return.<\/li>\n\n\n\n<li>Schedule K-1 (Form 1120S) \u2013 Shareholder income report.<\/li>\n<\/ul>\n\n\n\n<p>LLC taxed as a C Corp:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Form 1120 \u2013 Standard corporate tax return.<\/li>\n<\/ul>\n\n\n\n<p><strong>2025 Update<\/strong>: LLCs electing S Corp status must submit payroll tax filings and ensure owners receive a reasonable salary. Multi-member LLCs with foreign owners must now file additional reporting forms for IRS compliance.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_Not_gathering_basic_information_before_filing\"><\/span>2. Not gathering basic information before filing<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>When it comes to doing right by your business, the worst thing you can do is get sloppy when it comes to taxes. Before you file your taxes, take the time to make sure you\u2019ve got all the basic information you need.&nbsp;<\/p>\n\n\n\n<p>The easiest way to limit stress around tax time is by prioritizing your <a href=\"https:\/\/northone.com\/blog\/accounting\/how-to-make-sure-your-business-stays-financially-healthy\">financial health<\/a> throughout the year. If you commit to staying on top of your finances year round, you\u2019ll have everything you need on hand and won\u2019t have to scramble to gather basic information at the last minute.<\/p>\n\n\n\n<p>This will include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>SSN&nbsp;<\/li>\n\n\n\n<li>receipts<\/li>\n\n\n\n<li>sales records<\/li>\n\n\n\n<li>returns and allowances<\/li>\n\n\n\n<li>business checking and savings accounts<\/li>\n\n\n\n<li>inventory (purchases, ending inventory, costs of materials and supplies)<\/li>\n\n\n\n<li>additional expenses (business trips, travel, etc)<\/li>\n\n\n\n<li>wages paid to employees<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_Lumping_business_and_personal_expenses_together\"><\/span>3. Lumping business and personal expenses together<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Part of effectively managing your business is making sure your business and personal expenses are kept separate. Failing to do this can cause errors in your bookkeeping and create larger, more complicated organizational tasks when tax time comes along.\u00a0<\/p>\n\n\n\n<p>The easiest way to keep business and personal expenses separate is by using a <a href=\"https:\/\/www.northone.com\/blog\/business-banking\/how-to-open-a-business-bank-acccount\">dedicated business bank account<\/a>. Many business banks in 2025, like <a href=\"https:\/\/www.northone.com\/\">North One<\/a>, offer real-time transaction categorization and virtual cards to streamline expense management. Digital bookkeeping integrations can also automatically separate business spending, saving you time and ensuring accurate financial records.<\/p>\n\n\n\n<p><br\/>\n\n\n<span class='mb-center maxbutton-3-center'><span class='maxbutton-3-container mb-container'><a class=\"maxbutton-3 maxbutton maxbutton-apply-for-an-account\" target=\"_blank\" title=\"Apply for a North One Account in less than 3 minutes.\" rel=\"nofollow noopener\" href=\"https:\/\/join.northone.com\/\"><span class='mb-text'>Apply for an Account<\/span><\/a><\/span><\/span>\n\n\n<p><br\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_Missing_out_on_business_deductions\"><\/span>4. Missing out on business deductions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Running a business is not cheap and often requires you to take risks financially. Don\u2019t cheat yourself out of tax deductions you are legally owed. The more you can deduct, the less you will pay in taxes and this money can go right back into your business. The IRS  released the <a href=\"https:\/\/www.irs.gov\/pub\/irs-pdf\/p535.pdf\">most common tax deductions<\/a> for small businesses and sole proprietors. Some common deductions include;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Cars and trucks<\/li>\n\n\n\n<li>Salary and wages<\/li>\n\n\n\n<li>Contracted labor<\/li>\n\n\n\n<li>Supplies<\/li>\n\n\n\n<li>Rent on business property<\/li>\n\n\n\n<li>Home office<\/li>\n\n\n\n<li>Travel<\/li>\n\n\n\n<li>Advertising<\/li>\n\n\n\n<li>Legal fees<\/li>\n<\/ul>\n\n\n\n<p>These are some of the most common deductions, but it is not an exhaustive list. If one of your business&#8217;s expenses is not listed above, you can always find out if it is deductible by visiting the<a href=\"https:\/\/www.irs.gov\/businesses\/small-businesses-self-employed\/deducting-business-expenses\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\"> IRS website<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_Neglecting_bookkeeping_until_tax_season\"><\/span>5. Neglecting bookkeeping until tax season<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The best way to limit stress when it comes to tax season is by keeping your thumb on bookkeeping throughout the year. If you don\u2019t feel confident about staying on top of your business\u2019s books, it might be a good idea to<a href=\"https:\/\/northone.com\/blog\/accounting\/what-does-a-bookkeeper-actually-do\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\"> hire a bookkeeper<\/a>. Take the time to hire someone who is good at what they do and won\u2019t cause more problems for your business.<\/p>\n\n\n\n<p>In 2025, AI-powered accounting tools and real-time bank integrations make it easier to maintain accurate records throughout the year. Automated bookkeeping software can categorize expenses, flag tax-deductible transactions, and generate tax-ready reports \u2014 eliminating the need for last-minute paperwork.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"6_Choosing_not_to_file_business_taxes_online\"><\/span>6. Choosing not to file business taxes online<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In 2025, <a href=\"https:\/\/www.irs.gov\/filing\">e-filing<\/a> is not just a convenience\u2014it\u2019s a necessity. The IRS processes online returns faster, reducing the chance of errors and speeding up refunds. Modern tax software uses AI to flag potential mistakes before filing, and business banking integrations make it easier to import financial data directly into tax returns. If you\u2019re still filing taxes manually, you could be missing out on efficiency, accuracy, and potential savings.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"7_Skipping_proofreading\"><\/span>7. Skipping proofreading<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>One mistake even the best business owners make when it comes to doing their taxes, is not taking the time to proofread the forms they are submitting.<\/p>\n\n\n\n<p>Even small errors \u2014 like a mistyped SSN or a misclassified expense \u2014 can lead to tax delays or penalties. In 2025, AI-powered tax filing software can automatically detect inconsistencies and alert you before submission. Double-checking your return with both automated tools and a manual review ensures accuracy and prevents costly mistakes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tax season can be stressful for small business owners and freelancers, but it doesn\u2019t have to be. While no one looks forward to filing taxes (except maybe your accountant), avoiding&#8230;<\/p>\n","protected":false},"author":1,"featured_media":4659,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[137],"tags":[],"class_list":["post-1214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-taxes"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>7 Mistakes to Avoid When Filing Business Taxes | NorthOne<\/title>\n<meta name=\"description\" content=\"Save yourself time and stress by filing smarter this tax season. Be aware of these common mistakes when filing business taxes to avoid issues later on.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.northone.com\/blog\/taxes\/filing-business-taxes\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"7 Mistakes to Avoid When Filing Business Taxes | NorthOne\" \/>\n<meta property=\"og:description\" content=\"Save yourself time and stress by filing smarter this tax season. Be aware of these common mistakes when filing business taxes to avoid issues later on.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.northone.com\/blog\/taxes\/filing-business-taxes\" \/>\n<meta property=\"og:site_name\" content=\"North One Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/northonebanking\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-24T14:54:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-03-02T20:33:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.northone.com\/blog\/wp-content\/uploads\/2025\/02\/7-Mistakes-to-Avoid-When-Filing-Business-Taxes_fires.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"863\" \/>\n\t<meta property=\"og:image:height\" content=\"558\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Eytan Bensoussan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@NorthOneApp\" \/>\n<meta name=\"twitter:site\" content=\"@NorthOneApp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Eytan Bensoussan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/taxes\\\/filing-business-taxes#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/taxes\\\/filing-business-taxes\"},\"author\":{\"name\":\"Eytan Bensoussan\",\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/#\\\/schema\\\/person\\\/1f56df6a45f6591303799c10338998f3\"},\"headline\":\"7 Mistakes to Avoid When Filing Business Taxes\",\"datePublished\":\"2020-03-24T14:54:20+00:00\",\"dateModified\":\"2025-03-02T20:33:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/taxes\\\/filing-business-taxes\"},\"wordCount\":1381,\"commentCount\":7,\"publisher\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/taxes\\\/filing-business-taxes#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/wp-content\\\/uploads\\\/2025\\\/02\\\/7-Mistakes-to-Avoid-When-Filing-Business-Taxes_fires.jpg\",\"articleSection\":[\"Taxes\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.northone.com\\\/blog\\\/taxes\\\/filing-business-taxes#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/taxes\\\/filing-business-taxes\",\"url\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/taxes\\\/filing-business-taxes\",\"name\":\"7 Mistakes to Avoid When Filing Business Taxes | NorthOne\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/taxes\\\/filing-business-taxes#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/taxes\\\/filing-business-taxes#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/wp-content\\\/uploads\\\/2025\\\/02\\\/7-Mistakes-to-Avoid-When-Filing-Business-Taxes_fires.jpg\",\"datePublished\":\"2020-03-24T14:54:20+00:00\",\"dateModified\":\"2025-03-02T20:33:05+00:00\",\"description\":\"Save yourself time and stress by filing smarter this tax season. Be aware of these common mistakes when filing business taxes to avoid issues later on.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/taxes\\\/filing-business-taxes#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.northone.com\\\/blog\\\/taxes\\\/filing-business-taxes\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/taxes\\\/filing-business-taxes#primaryimage\",\"url\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/wp-content\\\/uploads\\\/2025\\\/02\\\/7-Mistakes-to-Avoid-When-Filing-Business-Taxes_fires.jpg\",\"contentUrl\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/wp-content\\\/uploads\\\/2025\\\/02\\\/7-Mistakes-to-Avoid-When-Filing-Business-Taxes_fires.jpg\",\"width\":863,\"height\":558,\"caption\":\"Mistakes to Avoid When Filing Business Taxes\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/taxes\\\/filing-business-taxes#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.northone.com\\\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"7 Mistakes to Avoid When Filing Business Taxes\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/\",\"name\":\"North One Blog\",\"description\":\"North One Business Banking\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/#organization\",\"name\":\"North One\",\"url\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/07\\\/NorthOne-Icon.png\",\"contentUrl\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/07\\\/NorthOne-Icon.png\",\"width\":1000,\"height\":1000,\"caption\":\"North One\"},\"image\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/northonebanking\\\/\",\"https:\\\/\\\/x.com\\\/NorthOneApp\",\"https:\\\/\\\/ca.linkedin.com\\\/company\\\/northone\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/#\\\/schema\\\/person\\\/1f56df6a45f6591303799c10338998f3\",\"name\":\"Eytan Bensoussan\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/83acc1bb6d8ed81032149bdb81d8d8ad2293caf0b0c885e20bc25c668eb3c4f2?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/83acc1bb6d8ed81032149bdb81d8d8ad2293caf0b0c885e20bc25c668eb3c4f2?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/83acc1bb6d8ed81032149bdb81d8d8ad2293caf0b0c885e20bc25c668eb3c4f2?s=96&d=mm&r=g\",\"caption\":\"Eytan Bensoussan\"},\"description\":\"Eytan Bensoussan is the CEO and co-founder of North One. He is an expert in small business banking and financial management. Prior to founding North One, Eytan worked as a Senior Engagement Manager at McKinsey &amp; Company and earned a JD and MBA from McGill University.\",\"url\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/author\\\/admin\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"7 Mistakes to Avoid When Filing Business Taxes | NorthOne","description":"Save yourself time and stress by filing smarter this tax season. Be aware of these common mistakes when filing business taxes to avoid issues later on.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.northone.com\/blog\/taxes\/filing-business-taxes","og_locale":"en_US","og_type":"article","og_title":"7 Mistakes to Avoid When Filing Business Taxes | NorthOne","og_description":"Save yourself time and stress by filing smarter this tax season. Be aware of these common mistakes when filing business taxes to avoid issues later on.","og_url":"https:\/\/www.northone.com\/blog\/taxes\/filing-business-taxes","og_site_name":"North One Blog","article_publisher":"https:\/\/www.facebook.com\/northonebanking\/","article_published_time":"2020-03-24T14:54:20+00:00","article_modified_time":"2025-03-02T20:33:05+00:00","og_image":[{"width":863,"height":558,"url":"https:\/\/www.northone.com\/blog\/wp-content\/uploads\/2025\/02\/7-Mistakes-to-Avoid-When-Filing-Business-Taxes_fires.jpg","type":"image\/jpeg"}],"author":"Eytan Bensoussan","twitter_card":"summary_large_image","twitter_creator":"@NorthOneApp","twitter_site":"@NorthOneApp","twitter_misc":{"Written by":"Eytan Bensoussan","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.northone.com\/blog\/taxes\/filing-business-taxes#article","isPartOf":{"@id":"https:\/\/www.northone.com\/blog\/taxes\/filing-business-taxes"},"author":{"name":"Eytan Bensoussan","@id":"https:\/\/www.northone.com\/blog\/#\/schema\/person\/1f56df6a45f6591303799c10338998f3"},"headline":"7 Mistakes to Avoid When Filing Business Taxes","datePublished":"2020-03-24T14:54:20+00:00","dateModified":"2025-03-02T20:33:05+00:00","mainEntityOfPage":{"@id":"https:\/\/www.northone.com\/blog\/taxes\/filing-business-taxes"},"wordCount":1381,"commentCount":7,"publisher":{"@id":"https:\/\/www.northone.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.northone.com\/blog\/taxes\/filing-business-taxes#primaryimage"},"thumbnailUrl":"https:\/\/www.northone.com\/blog\/wp-content\/uploads\/2025\/02\/7-Mistakes-to-Avoid-When-Filing-Business-Taxes_fires.jpg","articleSection":["Taxes"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.northone.com\/blog\/taxes\/filing-business-taxes#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.northone.com\/blog\/taxes\/filing-business-taxes","url":"https:\/\/www.northone.com\/blog\/taxes\/filing-business-taxes","name":"7 Mistakes to Avoid When Filing Business Taxes | NorthOne","isPartOf":{"@id":"https:\/\/www.northone.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.northone.com\/blog\/taxes\/filing-business-taxes#primaryimage"},"image":{"@id":"https:\/\/www.northone.com\/blog\/taxes\/filing-business-taxes#primaryimage"},"thumbnailUrl":"https:\/\/www.northone.com\/blog\/wp-content\/uploads\/2025\/02\/7-Mistakes-to-Avoid-When-Filing-Business-Taxes_fires.jpg","datePublished":"2020-03-24T14:54:20+00:00","dateModified":"2025-03-02T20:33:05+00:00","description":"Save yourself time and stress by filing smarter this tax season. Be aware of these common mistakes when filing business taxes to avoid issues later on.","breadcrumb":{"@id":"https:\/\/www.northone.com\/blog\/taxes\/filing-business-taxes#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.northone.com\/blog\/taxes\/filing-business-taxes"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.northone.com\/blog\/taxes\/filing-business-taxes#primaryimage","url":"https:\/\/www.northone.com\/blog\/wp-content\/uploads\/2025\/02\/7-Mistakes-to-Avoid-When-Filing-Business-Taxes_fires.jpg","contentUrl":"https:\/\/www.northone.com\/blog\/wp-content\/uploads\/2025\/02\/7-Mistakes-to-Avoid-When-Filing-Business-Taxes_fires.jpg","width":863,"height":558,"caption":"Mistakes to Avoid When Filing Business Taxes"},{"@type":"BreadcrumbList","@id":"https:\/\/www.northone.com\/blog\/taxes\/filing-business-taxes#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.northone.com\/blog"},{"@type":"ListItem","position":2,"name":"7 Mistakes to Avoid When Filing Business Taxes"}]},{"@type":"WebSite","@id":"https:\/\/www.northone.com\/blog\/#website","url":"https:\/\/www.northone.com\/blog\/","name":"North One Blog","description":"North One Business Banking","publisher":{"@id":"https:\/\/www.northone.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.northone.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.northone.com\/blog\/#organization","name":"North One","url":"https:\/\/www.northone.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.northone.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.northone.com\/blog\/wp-content\/uploads\/2019\/07\/NorthOne-Icon.png","contentUrl":"https:\/\/www.northone.com\/blog\/wp-content\/uploads\/2019\/07\/NorthOne-Icon.png","width":1000,"height":1000,"caption":"North One"},"image":{"@id":"https:\/\/www.northone.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/northonebanking\/","https:\/\/x.com\/NorthOneApp","https:\/\/ca.linkedin.com\/company\/northone"]},{"@type":"Person","@id":"https:\/\/www.northone.com\/blog\/#\/schema\/person\/1f56df6a45f6591303799c10338998f3","name":"Eytan Bensoussan","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/83acc1bb6d8ed81032149bdb81d8d8ad2293caf0b0c885e20bc25c668eb3c4f2?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/83acc1bb6d8ed81032149bdb81d8d8ad2293caf0b0c885e20bc25c668eb3c4f2?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/83acc1bb6d8ed81032149bdb81d8d8ad2293caf0b0c885e20bc25c668eb3c4f2?s=96&d=mm&r=g","caption":"Eytan Bensoussan"},"description":"Eytan Bensoussan is the CEO and co-founder of North One. He is an expert in small business banking and financial management. Prior to founding North One, Eytan worked as a Senior Engagement Manager at McKinsey &amp; Company and earned a JD and MBA from McGill University.","url":"https:\/\/www.northone.com\/blog\/author\/admin"}]}},"wps_subtitle":"","_links":{"self":[{"href":"https:\/\/www.northone.com\/blog\/wp-json\/wp\/v2\/posts\/1214","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.northone.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.northone.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.northone.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.northone.com\/blog\/wp-json\/wp\/v2\/comments?post=1214"}],"version-history":[{"count":0,"href":"https:\/\/www.northone.com\/blog\/wp-json\/wp\/v2\/posts\/1214\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.northone.com\/blog\/wp-json\/wp\/v2\/media\/4659"}],"wp:attachment":[{"href":"https:\/\/www.northone.com\/blog\/wp-json\/wp\/v2\/media?parent=1214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.northone.com\/blog\/wp-json\/wp\/v2\/categories?post=1214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.northone.com\/blog\/wp-json\/wp\/v2\/tags?post=1214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}