Micros don’t like the tax code

Posted on | April 27, 2006 | Comments Off

Yeah, I know, seems blindingly obvious. But you need data in order to prove your point, especially to policy types in Washington.

Which is why the results of the latest National Association for the Self-Employed member survey is such a very good thing.

They found that microbusiness owners think the tax code is a pain in the keester. In fact, 35% of them said the most burdensome thing about the tax code was its complexity, making it the most common answer to that particular question.

In terms of the taxes they pay, they want the small business expensing limit hiked to $200,000 permanently and they want more and better tax treatment for HSAs.

They also want Congress to stop talking and start acting on a number of tax-related issues:

  • Over half (57 percent) use a tax practitioner to file, a sign that tax filing is an unmanageable task for micro-business owners

  • About one-third (35 percent) utilize tax software on the computer (two-thirds of which then e-file returns)
  • One quarter spend more than ten hours preparing taxes each year

They want a standard home-office deduction of $2500 (72% of them, that is) and they want a simplified Earned Income Tax Credit (65%).

And, interestingly, there was nothing at all here about estate taxes.


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Category: Numbers and Research, Regs


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