Small Business Owner Tax Survey

If you are a small business owner you will at some point need to address taxes and spending within your business

Here is a great infographic prepared by NFIB regarding a survey they conducted of small business owners and their taxes and spending that you will no doubt find interesting.

• 91% hire a professional tax preparer to do their taxes.
• 85% think Congress should revise the tax code.
• 81% prefer a spending cut to tax increase ratio of at least 3 to 1, with the emphasis on cuts
• 55% do not think simplification will occur in any tax revision, even if explicitly intended
• 34% NFIB members made expenditures in the last five years to protect their heirs from the estate tax; another 15% plan to make them
• 36% of NFIB members say that they calculated the Alternative Minimum Tax (AMT)
• 81% prefer a spending cut to tax increase ratio of at least 3 to 1, with the emphasis on cuts
• 71% agree that the most important outcome in tax restructuring is their taxes rising or falling

Infographic Source