It seems tax season isn’t getting any easier. In fact, it’s getting more difficult for most business owners, Counselor reports.
In a poll for Discover Small Business Watch, distributors and other small-business owners revealed their biggest frustrations with filing their latest taxes. According to the survey:
- 77 percent of business owners felt that their preparation and documentation process was confusing. (75 percent of respondents said the same last year.)
- 46 percent felt that it was very or somewhat difficult to find and organize all the documents they needed for their taxes. (39 percent of respondents said the same two years ago.)
- 32 percent of respondents said that self-employment taxes were the most frustrating tax, followed by 24 percent who said federal income taxes were most frustrating, and 11 percent who said property taxes.
- 69 percent contracted the services of a professional to prepare their taxes, while about 20 percent used tax software.
- 32 percent of small-business owners were not confident that they will receive all of their potential deductions.
Source:
Counselor PromoGram: The Taxing Truths About Taxes
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