Small Business Tax

Section 179 vehicles should be a key part of your small business tax deduction strategies. Can Section 179 property fit in with your business tax strategies?

Let Business Management Daily help you get each and every rental property depreciation credit and business tax deduction you’re entitled to.

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Has your small business finally made it “big”? You might be able to buy that boat you’ve always dreamed about. But while you’re enjoying the trappings of your success, there’s no direct tax benefit for your business. The tax law essentially prohibits business deductions for so-called “entertainment facilities.”

If you’re like many parents, you may not have saved enough to finance the higher education of your offspring. Don’t panic. Look around for other tax-smart options.

The media has vilified the alternative minimum tax for sneaking up on unsuspecting individual taxpayers. But there’s a similar tax evil for business entities lurking in the weeds.
Q. If I sell my house where I’ve used a home office for my self-employed business, is there a tax penalty?
The U.S. Supreme Court has agreed to hear a case challenging the availability of premium tax credits provided to individuals under the Patient Protection and Affordable Care Act.

Now may be the time for savvy real estate investors to make a move. Strategy: Trade property you own for a “like-kind” property.

Following up on a 2014 Tax Court decision, the IRS is taking a tougher stance on the once-a-year rule for IRA rollovers in 2015. But you might still squeeze in under the wire.
In lieu of deducting actual business auto expenses, you can deduct a flat rate of 57.5 cents per business mile, up from 56 cents in 2014, plus parking and tolls.
While the Social Security wage base is going up, so are Social Security benefits.
Q. I have both a regular IRA and a Roth. Can I contribute to each one in 2014?
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