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1 Replies Last post: Jan 13, 2009 7:10 PM by Lighthouse24

Which tax & accounting issues trouble business owners?

Jan 13, 2009 6:35 PM

Click to view xtremeonyx's profile Start-up xtremeonyx 2 posts since
Jan 13, 2009
Hi,

I am interested in finding out which tax & accounting issues trouble small business owners the most? I am a Certified Public Accountant and would like to know so I can better serve such issues.

Thanks
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Click to view Lighthouse24's profile Mogul Lighthouse24 2,396 posts since
Oct 10, 2007
1. Re: Which tax & accounting issues trouble business owners? Jan 13, 2009 10:04 PM

Through the years, the most "troubling" issues for me as a small business owner have always been the "first time" things -- first time I bought capital equipment or dealt with depreciation, first time I hired contractors and employees, first time I set up a branch office in another state, first time I had an overseas project and income, etc. If it has happened before, I'm okay. If this year was the first time, then it can be "troubling." Maybe all that can be summed under "business growth issues."

Health care coverage is a major (and continually increasing) cost for small businesses, and it's sometimes hard for owners to stay on top of the options that are available (plus everyone who has something to gain paints the picture the way they want the business owner to see it). So being well-informed and able to present an unbiased perspective of which health care options/coverages provide the best financial/tax options for the business might be another area in which to focus.

Hope that helps. Best wishes.