ST Retail Small Business Index Finds Majority of Small Business Owners Are Not Using Tax Software

ST Retail, the leading global provider of office products, services, and solutions revealed in its latest Small Business Index survey that approximately three-fourths (70 percent) of small business owners (SMBs) indicated they did not use tax software when they filed their taxes in 2016. The survey results also showed that one in four (24 percent) of large SMBs (those with 50-99 employees) still use paper forms compared to the 20 percent that reported they were using online tax software.

“With the availability of tax software at office supply stores like ST Retail and the variety and ease of use of tax software available today, such as TurboTax or H&R Block, SMBs should strongly consider transitioning to tax software,” said Kaen Wood, senior director of contract marketing for ST Retail “Tax software can provide SMB owners with the flexibility to file their taxes at their own pace.”

One in every 10 SMBs (11 percent) waited to file their taxes on Tax Day or asked for an extension. The survey results also revealed that 21 percent of SMBs indicated that they were looking to use more technology and/or use less paper while filing their taxes in 2017, out of the 61 percent who indicated that they were looking to make changes in how they filed their taxes this year.

“Owners of businesses large and small should aim to start organizing their paperwork at least one to two months before Tax Day so they don’t feel the stress of filing last minute or asking for an extension,” said Nessen. “ST Retail has a variety of products to help SMBs organize their paperwork, shred sensitive documents and file their taxes.”

With tax season approaching rapidly, ST Retail is the one-stop shop for all tax-related needs, for both SMBs and consumers. With a variety of services ranging from tax software, to shredding and copying services, to small business experts, ST Retail stores have everything SMBs need to successfully file their taxes.

Interviews are conducted online among a nationally representative sample of small and medium-sized businesses. The wave of interviewing was conducted from October 15 – December 30, 2016 among a total of 1,500 small and medium-sized businesses.