51% plan new hiring now and into next year. For 2015, 81 percent percent of small businesses forecast a revenue increase, with 21 percent expecting to grow more than 100 percent, according to a new survey from a leading accounting software producer. The study also shows that employing an accountant pays off, according to Xero, the cloud accounting company that produced the study. SMBs (small and medium-size businesses) who use an accountant with online accounting software enjoyed a 16 percent increase in revenue over businesses that use online accounting software without an accountant.
Topic: Small business
New data obtained by CPA Trendlines shows that 84 percent of small-business owners are now paying an independent tax practitioner or accountant to handle their taxes. In addition, an increasing number of small business taxpayers appear to be taking advantage of Sec.179 expensing and bonus depreciation. The new report available from CPA Trendlines includes information on: the number of small business owners who use an outside tax or accounting service how many hours per week a small business spends on payroll tax administration average cost for using a payroll agency hours spent on federal tax various tax burdens how to download complete report (PDF, 13 pages)
Sage’s one-brand cloud strategy is built on a tidal wave of change…
Small business survey serves up clues for accountants. “Passion to be an entrepreneur” is the top reason for wanting to start a business for nearly half (48.5 percent) of aspiring business owners.
40% of small businesses shun accountants. The reason: They’d rather handle accounting on their own. Instead of working with an accountant as a full business partner, most small businesses only look to them for specific services and support, such as accounting, bookkeeping, and taxes.
Many expect to work ’til 70 and never retire, others hope to sell. The nation’s small business owners’ views regarding retirement are radically shifting, with many seeing themselves working 20 years or longer – or never formally retiring at all. As a result of longer life expectancies and the impact of the recession, the majority of small business owners can no longer embrace a traditional view of retirement, in which individuals stop working in their mid-60s for a life of leisure – something fewer than 10 percent foresee themselves doing, according to a new study by The Guardian Life Small Business Research Institute.
Signs of resignation among sellers. In what may come as mixed news for tax and accounting professionals, the pace of small businesses sold accelerated 8 percent in the second quarter of 2011, but it may be because owners are accepting that their businesses aren’t as valuable as they used to be.
Small business optimism slumps in March, according to SurePayroll. The index fell two percentage points from February to 69 percent in March, with hiring is down 2.2% year-to-date. “While large businesses, medium-sized businesses and even larger small businesses may be seeing improvements in hiring, the smallest of businesses aren’t,” the company said.