Date Added: May 2009
A small business taxpayer will spend nearly 60 hours to complete a Federal business tax return that includes a Form 1040 with corresponding Schedule C. Sixty hours! That's a week and a half of time - just spent on completing the return. For self-employed entrepreneurs and microbusinesses, the tax code's complexity can be daunting. Even if you have an accountant helping you, just maintaining and organizing your records so that the accountant can prepare the return for you, is laborious. Plus, there's the uncertainty of figuring out what is deductible, what is owed in taxes, and how to comply with the tax code.