10. Mixing Expenses
As we mentioned earlier, any business related expenses that you make need to be properly justified. Keep the receipt and make sure that you can adequately explain and correlate the expenses with the business purpose.
The IRS can get the wrong picture about your business even though they are innocent things such as a lunch with a client.
We suggest that you hire a professional to keep track of your receipts and expenses just in case and to not use the business credit or debit card to make personal purchases.
If the IRS discovers that you did mix the two you will have to deal with a huge penalty fine.
