Small Business Tax Strategies

Congress is considering reforming (permanently, this time) the confusing federal estate-tax law. But don’t wait for Congress to act before revisiting your personal estate plan. Changes already scheduled to take effect at year-end hasten the need to dust off your family’s estate plan later this year, regardless of Congress’s actions.

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Contrary to popular belief, credit unions aren’t just for unions, governments or Fortune 500 companies.

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Is income from a trust taxed as ordinary income?

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Two separate studies have found that people aren’t taking advantage of two very basic breaks from work: lunch and vacation. A May survey of 1,000 office workers found that more than half of them take 30 minutes or less for lunch.

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As a small business owner, you generally can deduct 100 percent of your family’s medical insurance costs even if you’re self-employed. But you can do better taxwise by taking an unusual approach.

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When you reach a certain point in
life, you’re generally entitled to receive Social Security retirement
benefits. Congratulations; you earned it. But it’s not as simple as
cashing a check each month. If you don’t stay on top of things, you’ll
have to give some of that money back to the government in taxes.

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Tax law takes a two-tiered approach with Social Security benefits. Here’s how it works.

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Taxes may be the last thing on your mind when you’re bogged down in a messy legal battle. But errors in the way you draft a settlement agreement could mean thousands of dollars going to Uncle Sam instead of into your pocket.

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Due to extenuating circumstances, you may not qualify for the giant home-sale gain exclusion when you sell your principal residence. But if you can’t get the whole loaf of bread, at least grab a slice of it.

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Combined income from marriage can stop you from converting a Roth IRA

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