Small businesses are spending way too much time and money on federal taxes, a new survey has found.
According to the National Small Business Association 2017 Small Business Taxation Survey (PDF), federal tax burden is one of the biggest challenges facing small businesses. The report finds the majority of small businesses (67 percent) are spending more than $1,000 each year on just the administration of federal taxes.
It also reveals one in three small businesses are spending more than 80 hours each year on federal taxes.
