By Andy Roe of SurePayroll
Coming off tax season, the majority of small business owners reported paying more in taxes. However, only 45 percent saw an increase in revenue compared to the previous year, according to the SurePayroll Small Business Scorecard®.
(Photo courtesy of Andy Roe)
For those that did see an increase in revenue, 68 percent said it made up for the increase in tax payments.
- 56 percent paid more in taxes than the previous year.
- 52 percent said they do not believe they’re taxed fairly.
A plurality (42 percent) of small business owners, meanwhile, said that the bigger issue is not paying taxes, but figuring out the complexities and changes in the tax code.
- 26 percent said taxes do not hurt their business.
- 32 percent said taxes make it difficult to succeed.
The frustrating thing we hear from small business owners is that they’re not able to budget properly for taxes, because it’s too hard to figure out what they’re going to have to pay. When you pay more than last year and make less, it leaves you scratching your head.
Andy Roe is the general manager of SurePayroll, a Paychex Company. SurePayroll provides payroll services to small businesses nationwide and surveys those businesses on a monthly basis for insights into the small business economy. Follow Andy on Twitter @AndrewSRoe and connect with him on LinkedIn.
The views, opinions and positions expressed within this guest post are those of the authors alone and do not represent those of CBS Small Business Pulse or the CBS Corporation. The accuracy, completeness and validity of any statements made within this article are verified solely by the authors.