Tax Mistakes for Entrepreneurs to Avoid As your company grows, make sure you understand how to put the right tax mechanisms in place.

There’s an old adage in business: What got you here won’t get you there. You have a great idea, you start your business, and soon, you’re making money. That’s fantastic, but nothing can quite prepare you for a huge tax bill that you weren’t expecting.

Bruce Willey -- who has years of experience working with small and midsize businesses at American Tax and Business Planning -- offers some simple tips that can help you hold off the high tax bills and set your company up for strong growth.

Key Takeaways:

• Discover some of the the most common tax mistakes entrepreneurs make
• Understand why accountants might set you up in your new business as an LLC, and why that may not be the right call
• Learn why there's no reason to panic if you get a notice that you'll be audited