By now, you have started withholding 0.09% of your employees’ pay, up to a total of $26.01 for the year, for New Jersey’s new Paid Family Leave Insurance program.
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.
When a TD Industries employee gets into a financial bind because of an emergency, colleagues pitch in to help out via payroll deductions. The Dallas-based construction firm allows employees to donate paid leave and money on a regular basis or in response to an isolated situation.
Q. My wife and I are getting a divorce. If we sell our house this year, can we qualify for the $500,000 home-sale exclusion?
Q. Recently, you suggested disclaiming an inheritance to save estate tax. Couldn’t you just set up a credit shelter trust?
Station Casino executives want to know what their employees dream about. A 20-question “dream survey” asks workers at the Las Vegas-based organization questions like, “Do you dream of owning your own house?” and “Do you dream of owning your own computer?” Here's what their answers led the organization to do.
Does your S corporation need an influx of cash to keep operating on all cylinders? If you go the loan route, you could borrow the money personally and lend it to the corporation or simply guarantee corporate loans. Be aware: There’s no income tax benefit for guaranteeing a loan.
A little-noticed tax provision that’s been on the books for almost 80 years may come in handy now due to the recent volatility in the stock market. It could save hundreds of thousands of estate tax dollars if you’re the executor of a recently deceased relative’s estate. Similarly, you might incorporate this provision into your own estate plan.
The massive new “American Recovery and Reinvestment Act of 2009” signed by President Obama on Feb. 17 is bursting at the seams with tax breaks designed to help both individuals and small businesses. Here’s a roundup of 14 tax strategies under the new law.
Several states, including Illinois, California, Massachusetts and New York, are getting tough on employers that violate sales-tax laws, according to an Associated Press report. Researchers at the Tax Foundation say smaller businesses tend to be the biggest tax evaders.
Sometimes, it makes sense to intentionally do things “the wrong way” in the tax world. This could be one of those times. Strategy: Set up an intentionally defective trust (IDT). As the name implies, the arrangement is designed to fail the tax rules for “nongrantor trusts.” In the end, however, the IDT is a triple tax winner.