The uncertainty hanging over tax reform has been a sticking point for small business owners for years as Congress continues to approve temporary cuts, the latest of which was negotiated by Congress in mid-February.
Business owners continue to struggle with the implications of the tax code, reports Newtek, the largest non-bank lender to small businesses, which surveyed more than 1,300 small businesses about their thoughts on paying taxes.
Perhaps the most surprising revelation to come from the Small Business Authority Market Sentiment Survey, was that “55 percent of respondents said they do not understand their tax returns and sign off on them anyway,” said Barry Sloane, CEO and president of Newtek.