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. We use a baby sitter to watch our children after school. Are we responsible for a nanny tax?
The much-discussed legislation that would impose sales tax on Internet ­sellers appears to have stalled in Congress.
Due to the relatively generous estate and gift tax provisions included in the American Tax­­payer Relief Act (ATRA), estate planning is easier than it was before. However, it can still be tricky, especially if your spouse isn’t a U.S. citizen.
Keep this tax calendar, which features the key filing deadlines for 2014, bookmarked for reference during the year.
If you travel extensively on business, you probably know the drill: Either the airline or hotel, or both, may offer a lower rate if the stay includes a Saturday night. What’s the tax perspective?
A Treasury Inspector General of Tax Administration (TIGTA) report suggests the IRS can do a better job by expanding audits to cover multiple years.
Under a new pact between the United States and Switzerland, Swiss banks may volunteer vital information about U.S. citizens so the banks can avoid criminal prosecution by U.S. authorities.

In a recent article, we discussed exchanging real estate properties tax-free under Section 1031 of the tax code. However, in the real world, it’s unlikely that the owner of the property you desire will be willing to acquire a property you own, or vice versa. Strategy: Use a qualified intermediary to facilitate deals.

A little-noticed rule change for restaurants and similar establishments could have a big impact next year.
Q. My home sale profit will exceed $250,000. Can I avoid tax on the higher amount by selling in installments? N.P.S., Long Beach, Calif.
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