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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Suppose your company bought a building many years ago for $1 million and has depreciated it down to zero. The building and the land it sits on are currently worth $2 million. You want to expand your product line, but you need some cash to do it.
Beware: The IRS has targeted small business owners and self-employeds for audits over the next few years. In fact, the effort is already under way, and you may be one of those singled out for the sting of an investigation.
One provision in the new Pension Protection Act of 2006 could prove a godsend for certain charity-minded taxpayers with plenty of IRA funds at their disposal.
Don’t pay alimony before the first date required under a divorce decree.
Your company is generally required to pay tax into a state unemployment-insurance fund. Although the figures vary from state to state, the pay-in is usually determined by the ratio of your payroll to the reserve in your account.
Normally, you can’t deduct amounts spent on clothes you wear to work. So, if you buy a smart new suit or outfit for the office or an important business meeting, you reap no tax benefit from the outlay.
Sorting out gift-tax returns.
You stated that only one of the brothers inheriting a house is entitled to the home-sale exclusion. But isn’t that irrelevant since both brothers benefit from a stepped-up basis in the house?
Clarifying whether charitable facade easements will benefit from the 15-year carry-over and the 50 percent AGI limit for other conservation easements
When to convert a Roth IRA
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