NSBA Calls For Tax Reform

With the aid of a program like TurboTax, some people are able to gather together fewer than a dozen pieces of paper and finish their taxes in around an hour.  But small business owners often aren’t nearly so lucky, as the results of a new survey from the National Small Business Association prove.

The NSBA surveyed over 300 small business owners between March 15th and March 28th, and determined that doing taxes isn’t always a matter of setting aside an evening – or even an entire day – to spend in front of the computer, shuffling forms.

NSBA Chair Larry Nannis revealed in a statement, "One in three small-business owners spends two full work weeks every year dealing with federal taxes, and the overwhelming majority (87 percent) are forced to pay an outside accountant or other tax return preparer.  The federal tax code is a massive resource drain for small businesses."

More specifically, payroll taxes were voted to be the most burdensome in an administrative sense (and in a financial sense, too, for that matter).

Anyway, all of the findings led NSBA President Todd McCracken to say, "The time for a serious debate on broad tax reform is now.  The ever-growing patchwork of credits, deductions, tax hikes and sunset dates is a roller coaster ride without the slightest indication of what’s around the next corner.  This is unsustainable and unacceptable."

Good luck doing your taxes this year if you’ve procrastinated to the point that they aren’t already behind you.