The National Small Business Association recently released the results of their small business owner survey about taxes.
Can you guess what the #1 tax concern was for small business owners?
And, no, it’s not the amount of taxes.
Let me tell you a few more results from the survey and then I’ll give you the answer.
Of the people in the organization, most employed 1 – 5 people and operated in S Corporations. The vast majority spend between $1,000 – $5,000 on tax compliance help. That is NOT the cost of taxes. That’s the cost of tax preparation. (Makes me realize what a great deal our “Getting Started” program is. It starts with a one-on-one consultation with me, includes unlimited email tax consultation and preparation of your individual and business tax returns, federal and state.)
Most people used Section 179 deductions and the 2010 self-employment health insurance deductions.
It’s an interesting read. You can load the survey results up here:
Please note that it might take a bit to get the results loaded to your computer.
And, the biggest concern for small business owners, as it related to their taxes? The amount of time it took to understand and comply with the law.