Lufkin business owners deal with complex tax code - KTRE.com | Lufkin and Nacogdoches, Texas

Lufkin business owners deal with complex tax code

LUFKIN, TX (KTRE) -

It now takes almost 74,000 sheets of regular sized paper to explain the complexity of the US federal tax code. For many including small business owners, all those tax forms and rules can become overwhelming.

So they're turning to tax specialists.

When Susie Carroway took over ownership at Alene's Florist in July, she also took over all the financial responsibilities of the business.

"It's very stressful to have to keep our taxes going and the amount that we are taxed when we are trying to run the business," said Carroway.

Experts say there are certain areas everyone needs to double-check before they file.

First, payroll tax will still affect the self-employed. Also, the standard deductions have increased for 2012 returns, and for those who itemize on their return, sales tax deductions are still allowed.

Experts say that there is always a second chance if you think you missed something.

"Bring your tax returns in and we will look at it and go over it with you and look at what you think you have gotten wrong. If you have gotten a letter from the IRS, we can go through it with you and see what they are talking about and if something was left off," said Tammy Boyd of Karber Boyd Insurance and Tax Services.

Businesses have until Monday, April 15 to get it all filed.

Copyright 2013 KTRE. All rights reserved.

 

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