Small Business Tax Strategies

I plan to leave my organs to be used for research at  a hospital. Can I deduct this gift as a current charitable  donation or, at the very least, a gift at death? P.P.,  San Antonio 

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Want to change your accounting method or need an IRS ruling about your employee retirement plan?

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If you travel extensively on business, you know the drill:  Airlines
may offer lower rates if you stay over a Saturday  night. The discount
is usually worth it if you’re wrapping up  business on Friday.

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When traveling internationally on business, a few  simple itinerary changes can help you save big on  taxes

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Does your company need a quick cash transfusion to keep operating on all cylinders? That could be a problem if the company owes you money for a prior debt.

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If you’re not careful, you could be held liable for the estate’s federal tax debts. In other words, instead of paying the amount that’s due out of the estate’s assets, you might have to come up with the tax payments out of your own pocket!

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Are you getting ready to hand over the reins of your corporate business to the younger generation? Typically, you might arrange to sell shares of company stock to your successors or simply give the stock to them.

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The home-sale gain exclusion is probably the largest single federal income tax break for individuals. If you qualify, you can pocket up to a half million dollars of tax-free profit from the sale of your home with no strings attached.

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Is your daughter or son marrying soon? You’ll probably lose a tax exemption when your child marches down the aisle, but that doesn’t mean the happy couple has to suffer, tax-wise.

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Incorporating in Delaware has no impact on federal income taxation.

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