We are all aware of income, sales, and real estate taxes; however, small-business owners must contend with payroll taxes.

These taxes consist of withholding for employee income taxes and employer matching contributions for Social Security, Medicare and state unemployment insurance.

When businesses run into cash flow problems, small businesses can be tempted to delay these payments with the intention to catch up when times improve.

This is a huge mistake.

Failure to make these payments on a timely basis can result in additional interest and penalties - and potential criminal charges.

There are other ways to manage your cash flow that do not expose you to unnecessary additional expense.

Better to cut your own draw, extend payments to suppliers, or tap your credit line. Check with your accountant on how to manage these liabilities so that you are not subject to penalties and interest when April 15 comes around.

For more information, go to the Internal Revenue Service page on payroll taxes at tinyurl.com/64q28o

Biz Tip of the Week is a feature provided by SCORE Southern Arizona, a nonprofit group that offers free small-business counseling and mentoring by appointment at several locations. For more information, go to scoretucson.org or call 505-3636.