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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Q. I donated appreciated stock to charity, and I want to reacquire more shares of the same stock. Does this violate the wash sale rule?
Q. I told my heirs that my closely held business interest is 100% exempt from federal estate tax. Am I right?

Suppose your spouse often helps out at work, but he or she isn’t on the payroll. Now you’re about to take an important business trip, and you need an assistant on call. Strategy: Make it official by hiring your spouse.

Are you holding shares of stock that are now worthless? If so, you can realize some tax relief on your 2015 return.
A roundup of recent tax news about Obamacare, ID theft, taxpayer rights and ABLE.

Alimony paid by a taxpayer is deductible while child support is not. Conversely, alimony payments are taxable to the recipient, while amounts paid for child support are tax free. Be aware of these tax ramifications if you’re negotiating a divorce. Then make sure the decree properly reflects your tax expectations.

Q. Can you deduct the value of blood donated to a hospital as a medical expense or charitable donation?
The days of the three-martini lunch are long gone, but business people can still deduct meal expenses that meet certain requirements.
Do you own undeveloped real estate that you would like to preserve in its pristine state? There’s a way to accomplish this goal and claim a current tax deduction while you still retain ownership of the property.
If you operate a business as an S corp, you may be able to claim a valuable tax loss against your other income. But the tax law generally limits such losses to the amount of your basis in the stock, plus any outstanding loans made directly from you to the corporation.
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