One of the biggest mistakes small business owners make is not talking enough with their accountants, according to a new survey.
The survey, by the small business accounting software developer Xero, polled a group of accountants, some of whom use the software and some who don’t. When asked what is the most common mistake small business owners make when it comes to their finances, 32 percent said it was only talking to their accountant during tax time (up from 25 percent last year and 18 percent in 2012), 20 percent said it was a lack of understanding when it comes to their tax obligations (up from 18 percent in 2013 and 13 percent in 2012), and 20 percent said it was not having real-time insight into their finances (up from 13 percent in 2013 and down from 26 percent in 2012).
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