Small business owners consistently hate having to prepare their taxes, a task consistently rated below dinner with the in-laws, cleaning house and working over the weekend. Because taxes are also complicated and hard to understand, there is further temptation to put off having to deal with this unpleasant and onerous task. However, putting it off can make the situation worse and give you less ability to respond to issues. Luckily, an overwhelmingly say that having an accountant makes tax time less stressful.
- New data reveals that most Australian small business owner dread what they have to do at tax time.
- It is a critical mistake for small business owners to do their taxes alone seeing that it is a stressful activity.
- 98 percent of small business owners confirm that they were relieved of stress when they sought help from a qualified accountant or tax professional.
“More than half (52 per cent) of small-business owners see tax time as one of the most stressful times of the year and first timers are most likely to be hard hit, with one in three (34 per cent) respondents believing their first annual tax time experience was one of the most stressful times they’ve encountered running their business.”