Small Business Tax Strategies

Q. Can I reduce my estate by giving gifts of stock from my company?

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Q. Is there a penalty for withdrawing funds early from a Section 529 plan?

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The tax extenders law passed in 2014—the Tax Increase Prevention Act (TIPA)—generated new life for a tax break for homeowners. Strategy: Cash in on energy credits for qualified expenses. The credit is available for qualified expenses paid in 2014.

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Would you pass up a chance to pocket a half million dollars in tax-free profits? Not likely. Keep records to protect the generous home sale exclusion.

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The IRS is testing out an appointment system at 10 of its largest walk-in centers around the country.

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The IRS recently released its annual list of “Dirty Dozen tax scams,” but there’s a twist this year.

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Four weeks into tax filing season, the White House announced that about 800,000 HealthCare.gov customers were sent forms with inaccurate tax information. Therefore, almost 1 million taxpayers may have to wait longer to receive refunds this year.

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Usually, you don’t have to pay tax on income until you actually have the money in your hands. But that’s not always true.

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The IRS has released new depreciation dollar limits for passenger business vehicles and light trucks and vans placed in service in 2015.

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You still may be able to cut your tax bill for 2014. We’ve got a couple of tax tricks left in the bag.

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