Finance

How to Avoid the Biggest Mistake on Your First Tax Return as an Entrepreneur

VIP Contributor
Author, Attorney and CPA
min read
Opinions expressed by Entrepreneur contributors are their own.

Starting a successful business is hard enough. Having to remember details for your first tax return adds to that stress. Accountant Mark Kohler says one of the most important things to do is to keep track of your startup costs. These include any expenses incurred before you start generating revenue. You’ll have to declare those expenses on your first return. If not, you lose the opportunity.

More from Entrepreneur

Jason's expertise and experience can help you with storytelling, motivation, and pitching your business to media.
Book Your Session

For a limited time only, get this bundle of Entrepreneur Press® titles for less than $30 (60% OFF) on our bookstore when you use "LEAP" at checkout.
Buy Now

Are paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.