The deadline for electing S corporation status for the current tax year is rapidly approaching. Strategy: Take time to figure out if a switch makes sense for your incorporated business.
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.
A natural disaster—like a winter storm, flood or fire—can turn your life upside down. Property may be damaged, tax records destroyed and other valuable items and documents lost, most likely forever. The IRS recently posted timely advice for protecting your personal effects.
Usually, you have to be traveling “away from home” on business to deduct lodging expenses. But that’s not always the case. The IRS has issued new final regulations allowing deductions for certain local lodging expenses.