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Tracking, logging, categorizing, and organizing business expenses throughout the year can be a real hassle. Human nature says, "if its a hassle, put it off." This leads to forgetfulness, which then leads to a mad scramble at the end of the year to get that disorganized shoe box of receipts to the tax professional who then must do his or her best to help you realize the tax deductions your business provides. In the end, it leads to lost deductions and lost dollars due to over-payment of taxes. William Olsen, Founder of Deductr, CPA and tax professional in this industry for more than 16 years, joins Anita Campbell for an in-depth discussion about procrastination and disorganization - two mistakes that can cost you big time at tax time.
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