Small Businesses Face Tax Certainty But Political Uncertainty

Small Businesses Face Tax Certainty But Political Uncertainty

[NBC News]

Jeff Schneider recently had his busiest November and December ever, as the tax preparer’s small business clients clamored for information about how the fiscal cliff negotiations could impact their taxes.

“It was unbelievable,” said Schneider, who runs SFS Tax and Accounting in Port St. Lucie, Fla.

The last-minute deal to avert the fiscal cliff left clients at least knowing what their tax bills would look like.

“When you talk to people they tell you face to face that the economy stinks, but they’re talking more politically than economically,” said Schneider, whose clients include doctors, dentists, a pawn shop and even an oxygen bar.

It’s no secret that Americans are fed up with all the political squabbles over taxes, spending and the federal debt load. For some small-business owners, the frustration is also tinged with fear: They’re worried that Congress’s inability to find common ground will hurt the economic recovery, and cut into their business.