A majority of small businesses are happy with their accountants, but feel they pay too much in taxes, even though they’re not sure their accountants can do much to reduce their tax liability, according to a new survey.
Wasp Barcode Technologies polled 393 small business leaders and found that 88 percent of them reported being happy with their accountants, while 62 percent felt there is nothing else their accountant can do to reduce their tax liability. However, the report also found that 52 percent of small businesses believe they either pay too much in taxes or are undecided on the matter.
The report also revealed that small businesses consider accountants to be the most important professional that their business employs, compared to attorneys, insurance agents and staffing services. The survey also found that 70 percent of the small businesses polled outsource their tax preparation, while 30 percent outsource tax planning.
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