Is your small business paying too much in small business taxes, and without knowing it?

It’s a pretty safe bet that most of us would like to pay less in small business taxes. Some of us go to great lengths to pay less, sometimes putting their businesses at risk in the process.

But, many small businesses overpay when it comes to tax time, and the numbers prove it.

Recent studies show that:

  • 30% of small business owners believe they overpay in taxes, often because they miss eligible deductions or categorize expenses incorrectly.
  • The average small business overpays by about $11,600 each year.
  • Around 32% of self-employed entrepreneurs admit to not reporting all their income, often out of confusion, not malice.
  • And non-filing (simply not filing on time) accounts for more than $63 billion in unpaid taxes annually, according to the IRS.

Yikes!

Being an accountant and a Wealth Coach for over a decade, I’ve seen a lot of this play out in real time and with real business owners.

I’ve shared stories about the days when I worked in a CPA office and routinely helped business owners clean up their books and file taxes. Some of the businesses I worked with were catching up on taxes for as many as 10 years back. Even more were at least 2 years behind on their taxes.

While the “free ride” felt nice for a while, eventually it turned into something that kept them up at night. Not only was there the fear of penalties and late fees, but there were also the missed opportunities like being able to qualify for loans. (Because no proof of income=no loan).

Needless to say, this was all extremely stressful for the business owners (and their spouses).

Trust me, I get how this happens. Most entrepreneurs don’t love dealing with taxes, period. Then you couple that with not knowing if you’re paying the right amount of taxes, missing deductions you could’ve taken, and getting extra penalties and fees for things you didn’t know mattered.

I have to say, too, that before becoming a CFO and a Wealth Coach, I didn’t fully understand taxes, either. I simply “trusted” the CPAs I worked with and crossed my fingers that everything was right.

It wasn’t until I earned my Tax Consultant Certification (an 18-month deep dive!) that I understood how much business owners were losing due to confusion, fear, and avoidance.


You started your business to help people heal, create, or inspire, not to wrestle with tax codes and forms. But here’s the truth…

Tax mistakes, or lack of filing taxes at all, are the biggest wealth leaks for small business owners.

That means many entrepreneurs are either giving away money they could keep… or risking penalties that could wipe out their profits.

With that being said, if you are looking to get back on track, I got you!

I’ve created a special gift for you, and I’m excited to share this one. It’s my all-new tax deduction checklist to help you take advantage of tax deductions you might be missing…

I call it 20 Common Tax Deductions Even Experienced Entrepreneurs Might Miss, and it’ll help ensure that you don’t pay more than you need to in small business taxes!

With this handy little checklist, you’ll get a list of 20 of the most common tax deductions that you might not know you’re entitled to. I’ll also cover a few things that you CAN’T deduct, so you’ll stay compliant and confident in the filing process. 😉

Download this handy checklist, all updated for 2025!

Be sure to grab that checklist, and use it to help ensure you’re getting all the deductions you’re entitled to this Tax Season! Once you’ve downloaded that, be sure to stop back by and share any questions you might have, too.

Until Next Time…

Love, light, and MONEY, Honey…

Kaylee

Get 20 Common Tax Deductions Even Experienced Entrepreneurs Might Miss HERE!

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