The #1 Tax Mistake I See Texas Business Owners Make (And How to Avoid It)

Let’s be honest — running a business is already a lot. The last thing you want is the IRS knocking because of something you didn’t know.

As a tax professional here in Texas, I work with business owners every day — salon owners, contractors, creatives, you name it. And there’s one mistake I see over and over again:

❌ Not separating personal and business finances.

At first, it seems harmless: one card, one account, a few blurred lines. But here’s what really happens:

• You can’t track real profits.

• You miss deductions.

• You create a mess come tax time.

• And worse, you could open yourself up to an audit.

✅ The Fix Is Simple:

• Open a separate business bank account.

• Only pay business expenses from it.

• Keep a clean record of your income and expenses (a good bookkeeper helps with that 😉).

Keeping things separate not only makes tax time smoother — it shows the IRS you’re serious, protects your legal liability, and helps you really understand how your business is doing.

Running a business is already a full-time job — and handling taxes and bookkeeping on top of that can be overwhelming. If your finances feel disorganized or you’re not sure what the IRS expects, you’re not alone. At S. Godoy & Associates, we’re tax experts who help Texas business owners clean up their books, reduce stress, and stay confidently compliant all year long.

💬 Book your free 15 minute consultation today — and let’s take the guesswork out of your business finances.