ColumnistsMay 26, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
SurveysApr 12, 2015
Survey lends insight into tax time
The average small business owner spends 40 hours and as much as $5,000 each year doing their taxes, a pre-April 15 survey just released by the National Small Business Association shows.
Washington--April 15, the day colloquially dubbed Tax Day that serves as the deadline for filing returns, is only a few days away, unfortunately.
Paying taxes is a burden that small businesses owners and individuals alike must bear and, as Benjamin Franklin so wisely pointed out, it’s the only certain thing in life besides death.
Each year, an organization called the National Small Business Association, or NSBA, conducts a survey of its members that delves into how much time they spend on their federal taxes, what sections of the tax code they find most frustrating and how much it costs them. The NSBA is a Washington, D.C.-based nonpartisan advocacy group for small business owners in the United States, with 65,000 members in every state and representing all industries.
The results of the 2015 survey show that when asked how much time they spend each year dealing with their federal taxes--i.e., calculating payroll and other business-related taxes, filing reports, working with their accountant, estate planning, etc.--the greatest percentage of survey-takers, 23 percent, said 21 to 40 hours while the second-highest percentage, 22 percent, spend 120 hours or more.
For 47 percent of those surveyed, the preparation of their taxes costs them between $1,001-$5,000 (28 percent) or $5,001-$10,000 (19 percent)--and that’s not even including any amount the business owner might owe to the federal government.
The NSBA states in its summary of the survey results that the time and money spent preparing taxes--coupled with the fact that 85 percent of small business owners reported that on top of it all, they still have to pay an accountant to actually do the taxes--ought to be a “clear signal that the tax code is far too complex.”
Other insights for the survey include:
--Nearly half of small business owners file and pay on time (49 percent). The second-highest percentage reporting filing and paying under extension (27 percent);
--In terms of both administration and cost, survey-takers ranked payroll taxes as the most burdensome; and
--Sixty-seven percent said that federal taxes have a significant to moderate impact on the day-to-day operation of their business, while 59 percent said credit and deductions have a significant to moderate influence over decisions related to their company and employees.
This is the fifth year that the NSBA has conducted its Small Business Taxation Survey. It was distributed online between March 13 and 14 and surveyed more than 675 small business owners.
More than half of those surveyed had between one and four employees (34 percent) or five to nine employees (19 percent), with annual payroll of less than $100,000 (26 percent) or $100,000 to $500,000 (31 percent). Revenue-wise, 44 percent reported gross sales or revenues of $500,000 to $1 million (13 percent) or $1-5 million (31 percent).
A total of 8 percent those surveyed reported being in the retail trade when asked to describe the industry or sector in which their business operates.
The entire report can be downloaded at NSBA.biz.
More on Surveys
The Latest
Events & AwardsMay 26, 2026
12 JCK Talks Sessions to Add to Your Las Vegas ScheduleThe trade show’s education series returns, with sessions on retail trends, AI, watches, marketing, corporate responsibility, and more.
Events & AwardsMay 26, 2026
CBG Brings Its Curated Designer Project to Las Vegas ShowThe Curated Designer Project has expanded to highlight eight independent jewelry designers during CBG’s Las Vegas show.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
TrendsMay 26, 2026
Amanda’s Style File: A Cooldown Is ComingBring a cool tone to your summer jewelry with these white metal pieces.
Weekly QuizMay 21, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsMay 22, 2026
Instore Buys JA New York ShowThe deal closed this week, which means Instore will produce the JA NY show slated to take place this fall.
FinancialsMay 22, 2026
Richemont’s Jewelry Brands Lead the Charge in Q4The company’s jewelry sales were up in Q4 and the fiscal year, with Richemont raising prices in part because of the cost of gold.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
CollectionsMay 22, 2026
Leigh Maxwell Celebrates 5 Years at Couture With ‘Bauble’ CollectionThe “Bauble” capsule collection of colorful one-of-a-kinds includes our Piece of the Week, the “Bauble” earrings, featuring rose zircon.
MajorsMay 22, 2026
Stuller’s New Packaging, Display Catalog Is Out The updated catalog has a newly dedicated section for gift wrapping.
PodcastsMay 21, 2026
Episode 5: Sotheby’s Frank Everett Puts the Auction Market in PerspectiveEverett covers colored stones’ surging popularity, the mellow return of the “Mellon Blue,” and his “The Devil Wears Prada” doppelgänger.
IndependentsMay 21, 2026
Springer’s Jewelers’ New Flagship Will Serve Next-Gen Luxury ShoppersFourth-generation CEO Lilly Mullen wants to emphasize experience, connection, and personalized service.
Events & AwardsMay 21, 2026
JA Announces Nina Pugliese Memorial ScholarshipThe new award, created in partnership with Henne Jewelers, honors the late designer’s legacy through supporting jewelry education.
SourcingMay 21, 2026
Botswana, Angola Join WFDBThe addition of the diamond-producing countries as nation affiliated members broadens the federation’s global representation, WFDB said.
CrimeMay 20, 2026
NYPD Warns of Jewelry Swap Scams Targeting SeniorsThe NYPD is warning elderly New Yorkers to keep their jewelry hidden when walking outside to avoid being a target.
IndependentsMay 20, 2026
Adornment & Theory’s New Store Feels Like Home Designer Viviana Langhoff has realized her dream of owning a space for her Chicago jewelry store that looks and feels like her brand.
Events & AwardsMay 20, 2026
Here Is Couture’s 2026 Education Lineup The sessions will run from Friday, May 29, to Sunday, May 31, with one being a live taping of an episode of Couture’s podcast.
Lab-GrownMay 20, 2026
Savannah Friedkin Jewelry Names New CEOFormer Stephanie Gottlieb Fine Jewelry executive Morgan P. Richardson is joining the lab-grown diamond jewelry brand.
WatchesMay 19, 2026
Here’s the AP x Swatch Pocket Watch That Caused PandemoniumThe $400 pocket watch is a blend of Audemars Piguet’s iconic eight-sided Royal Oak and Swatch’s unserious Pop watches from the ‘80s.
CollectionsMay 19, 2026
Chris Ploof’s New Collection Makes an Ancient Metal ModernWith gold prices on the rise, the “Modern Electrum” collection uses an alternative, non-tarnishing metal alloy composed of gold and silver.
IndependentsMay 19, 2026
Ellen and Michael Fruchtman Retire, Sell Marketing Agency Fruchtman Marketing has new owners, Erin Moyer-Carballea and Manuel Carballea, and will relocate to Miami.
ColumnistsMay 19, 2026
Peter Smith: The (Mostly) Immutable Sales TruthsIn a column for the 2026 State of the Majors issue, Smith lists 10 time-tested principles about sales that still ring true.
ColumnistsMay 18, 2026
Edahn Golan: What a K-Shaped Economy Means for Fine JewelryIn a column for the 2026 State of the Majors issue, Golan spells out how the growing economic divide in the U.S. is reshaping the market.
CollectionsMay 18, 2026
Foundrae’s New Collection Taps Into JoyThe “Limitless Expansion of Joy and Hope” collection evokes summer through colored gemstones and motifs of butterflies and florals.
CollectionsMay 18, 2026
Hancocks London Acquires Historic ‘Inchiquin’ EmeraldThe jewel, circa 1890, is from the late Victorian era and was owned by descendants of the last high king of Ireland.
Events & AwardsMay 18, 2026
Here Are the 2026 JCK Industry Fund Grant Recipients This is what the nine recipients plan to do with the funds.
AuctionsMay 15, 2026
American Collector Ponies Up Almost $17K for John Wayne’s RingThe Western star’s 14-karat gold signet ring sold for six times its low estimate following a bidding war at U.K. auction house Elmwood’s.
