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Barbara Weltman

Big Ideas for Small Business, Inc.

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Taxes are expensive for small business

May 11, 2015 / By Hudson Fusion

That’s what the Tax Foundation reported. Small businesses spend over 120 hours each year on federal taxes. They also spend about $10,000 a year on the administration for taxes (e.g., recordkeeping; accounting fees). Payroll taxes were the largest federal tax burden.

Are you self-employed? There’s a book for that! For essential year-round tax planning and critical business strategy, you’ll want your copy of J. K. Lasser’s Guide to Self-Employment: Taxes, Tips and Money-Saving Strategies for Schedule C Filers - available on Amazon!

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Small business ideas, business tax news and small business consulting from Barbara Weltman to provide business owners with the information they need to succeed. Visit our small business blog, Idea of The Day®, small business books and articles on small business taxes, small business finance and small business legal advice.

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