Small Business Tax Strategies

Questions about payroll tax, Roth IRAs and health insurance.

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Here’s a roundup of happenings in tax returns, revenue and IRS funding.

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The Protecting Americans from Tax Hikes Act of 2015 permanently preserves several key business tax breaks, and extends numerous others.

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Questions about deathbed gifts, medical exceptions for the elderly, IRA contributions and vanpools.

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Perhaps you and one or more of your siblings support an elderly parent. But the problem is that none of you give enough on your own to qualify for a dependency exemption deduction. Set up a multiple support agreement.

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Say you bought your home when prices in your neighborhood were sky-high, and now you’re trying to sell it. Unfortunately, there’s no tax break for a home sold at a loss. Convert the home into a rental property. If home prices in your area rebound, you can sell the home and pocket a gain. In the meantime, you can benefit from some relatively generous tax breaks for rental properties.

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Thanks to a new IRS ruling, it’s going to be easier and faster for small business owners to write off tangible property.

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Generally, your annual write-off for losses from passive activities is limited to your income from passive activities. In other words, you can’t claim an overall passive loss on your tax return.

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There’s a way that your company can provide extra benefits to higher-ups like yourself without bumping up against the usual limits for qualified retirement plans.

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There’s both good news and bad news for individuals who will be paying Medicare Part B premiums in 2016.

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