After nearly a decade of running her own tax and accounting practice, Shiloh Johnson noticed that the majority of her client demand was coming from one specific demographic: small or new businesses struggling to keep up with their taxes.
Unlike large corporations that have multiple entities and entire tax teams in place to manage taxes and compliance, small businesses often have no choice but to figure it out on their own. In fact, 77% of small business owners reported that federal business income taxes were very or moderately burdensome, according to NFIB’s 2021 Tax Survey. Sixty-four percent of small business owners reported that dealing with federal business income taxes creates an administrative burden.
