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