Small Business’ Troublesome Taxes
Just when you think you start feeling confident about your business’ revenues and your financial goals, the dreaded tax season strikes. Preparing corporation taxes for your small businesses can be a daunting task, especially for newer businesses that are still becoming acquainted with the process.
The 2014 survey from The National Small Business Association revealed that the majority of businesses spend more than 40 hours per year dealing with federal taxes—and 40% reported spending in excess of 80 hours per year! Filing taxes involves filling out an array of complicated forms, and trying to stay up-to-date with the ever-changing tax laws and codes, and making innocent mistakes and oversights can lead to major consequences.