BizSugar.com › Taxes › 5 Common Myths About Business Taxes

Some entrepreneurs think they’re smart. They believe that it’s possible to write off the tax payable on all their expenses so that they’ll end up paying nothing as tax. This is definitely a big joke!

While ignorance can make you pay extra tax on expenses that are exempt from taxation, trying to play smart by evading tax on expenses that aren’t exempt from tax may make you face stiff penalties.

Here are five common myths that business owners fall for and that make them think that they can evade tax on virtually all expenses.