GLENVIEW, Ill. — February 18, 2008 - Small business owners may be known for independence, but a recent survey conducted by online payroll service SurePayroll says this isn't the case when it comes to getting help during tax season.
The survey finds that nearly 93 percent of small business owners are relying on an accountant to help them file their business tax returns – 5 percent more than last year's survey indicated - and that on average they devote much less time to the process than most Americans spend on filing personal taxes.
Results show that the average small business owner spends around 12 hours on the tax filing process. According to U.S. government information on the official White House Web site, the average American spends around 25 hours preparing their tax return – 13 hours more than the average small business owner.
But time isn't the only savings business owners get by using accountants. Nearly 70 percent of small business owners believe their accountants will give them advice that will help them pay less, adding cost-savings to the list of reasons it makes sense to outsource taxes to an accounting professional.
Most small business owners also feel their accountants treat them right. Almost all (92 percent) small business owner respondents indicated their accountants are accessible throughout tax season, stating they could contact them whenever necessary.
The results suggest that small business owner satisfaction with accountants has translated into increasing loyalty. 94 percent of respondents reported they were using the same accountant they used in 2007 – an increase of 11 percent from last year.
SurePayroll President Michael Alter isn't surprised by the survey's findings.
"SurePayroll surveys have consistently indicated that accountants are the small business owners' most trusted advisors, and for good reason. Good accountants can more than make up for their fees in the tax dollars and potential fines they save them," he says. "Most provide their clients with a spectrum of services that benefit the business in a variety of ways. The value they provide is quantifiable, so it's easy to justify the cost."
But would a small business owner consider leaving their accountant if the price were right?
For most, not a chance. When asked if they would consider leaving their current accountants for cheaper, overseas alternatives – even if they could do so at one-third of the cost – 92 percent said no.
"There are a lot of services that business people are willing to switch because of better prices – a good accountant isn't one of them," says Alter.
In addition to tax return filing, small business owners said they looked to their accountants for assistance with tax planning (51 percent), financial accounting (29 percent), financial analysis (22 percent) and audits (21 percent). And 79 percent of respondents said the accountant who assists with filing their annual return also handles their personal taxes.
About SurePayroll:
SurePayroll is the online alternative to ADP® and Paychex®. SurePayroll's service and team members are dedicated to providing an easy, convenient online payroll service at a price small business owners can afford. Tens of thousands of customers rely on SurePayroll to process payroll wherever they want in as few as two minutes.
In addition, SurePayroll offers small businesses solutions for managing 401(k) plans, health insurance, workers' compensation, HR compliance and employee screening. For accountants and banking partners, SurePayroll provides private-label services that enable them to offer payroll processing to their small business clients.
Over the last decade, SurePayroll has received numerous prestigious awards for its innovative technology and outstanding customer service, including recognition from PC Magazine, Inc. 500, Accounting Today, the Stevie Awards and many others.
For more information, you can visit http://www.surepayroll.com, call 877.954.7873 or follow us on http://twitter.com/SurePayroll.
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