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Feeling taxed? Nielsen finds more consumers turning to Internet
Taxes. The time of year when parents get snippy with teens, when managers get snippy with employees and everyone wonders if a refund is coming their way. New data from NielsenWire indicates tax related traffic is up so far for 2012 while Xero is offering their top tax tips for small businesses.
As the April 15th tax deadline approaches for US consumers, more and more are turning to the Internet to find out just how to save more money, get a bigger refund or fill out the forms correctly. According to a new NielsenWire report one in four 'active online' adults (US) visited a tax website in February.
February is typically one of the heaviest months for tax preparation traffic.
The most visited tax information websites included IRS.gov (28 million unique US visitors, February 2012), Turbo Tax (25.4 million unique visitors), H&R Block (19.5 million unique visitors) and TaxACT (6.2 million unique visitors). But perhaps more interesting than the singular sites these consumers visited is this: most of the traffic overlapped. For example, NielsenWire found that about half of visitors to IRS.gov's website also visited the Turbo Tax site.
Meanwhile, related data from Xero finds the two most common mistakes that small businesses make are to not have on-going information about their finances and only talking to their accountant at tax time. Added to that, many SMBs aren't properly - or at all - deducting home office space or travel expenses and that they sometimes overlook new hire deductions.
Xero's top tips for small businesses at tax time - never mix personal and business expenses, watch the deduction totals because high deductions and low income can cause the IRS to look at audit proceedings and not paying taxes on time.
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