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.

Several readers have asked us about the tax incentives for being energy-conscious under the new economic stimulus law. Strategy: Take action now. If you make energy-saving improvements this year, you can cut your 2009 tax bill in addition to your heating and cooling bills. The new law changes may benefit both individual and business taxpayers.

Cordia Harrington owned three McDonald’s franchises when the company asked her to sit on its bun committee in 1992. She quickly realized opportunity was knocking. Here’s how she seized it:

Ohio ranked among the nation’s most business-friendly states in the Small Business and Entrepreneurship Council’s (SBEC) Business Tax Index for 2009. The SBEC annually assesses the tax climates for business and entrepreneurs in the 50 states and the District of Columbia.

Florida ranked as one of the nation’s business-friendliest states in the Small Business and Entrepreneurship Council’s (SBEC) Business Tax Index for 2009. The SBEC annually assesses the tax climates for business and entrepreneurs in the 50 states and the District of Columbia.

The IRS revised its withholding tables to reflect the new Making Work Pay credit. The new credit will result in more take-home pay for more than 120 million American households. But many retirees with pensions won’t qualify for the credit and thus could end up underwithholding for the year. This could reduce an expected tax refund or create an unexpected tax bill.

Q. I’m interested in the new cash-for-clunkers program. Can I qualify if I trade in a passenger car for an SUV?

Q. My company was forced to lay off some employees. Do we have to subsidize COBRA payments for married ex-workers?

With mortgage interest rates at near-record lows, you may be tempted to refinance an existing mortgage. Does it make sense? It depends on your circumstances. Do the math first. Of course, taxes are a critical part of the equation. But also consider how much you’ll save with the lower interest rate and how long you expect to remain in the home.

Are you facing a cash crunch because most of your wealth is tied up in your company? If the current economic slowdown continues, your personal assets could be depleted over time. Strategy: Create an Employee Stock Ownership Plan. This technique enables you to reinvest in a diversified portfolio, retain control of the business and avoid taxes indefinitely—all in one fell swoop.

Why is “small” big? Small companies can better win the trust and confidence of recession-weary customers. No matter what the size of your company, here’s how you can imitate what small companies do well: