Q: In a recent issue, you wrote about the benefits of Health Savings Accounts. (12/29/03 issue) I am the owner of an S corporation. As the principal, can I use an HSA? J.L., via e-mail
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.
Q: I am single and earned $79,040 from my regular job in 2003. But I also had $15,233 in self-employment (SE) income. The IRS says I have to pay the full self-employment tax on the additional earnings. Is this true? D.A., Needham, Mass.
If you're required to file your payroll taxes electronically, don't quibble with the IRS, even if you're more comfortable walking a check to the bank.
With the economy awakening from its hibernation, you may be shaking the dust off business expansion plans.
If those plans include launching an entirely new business, you'll like-ly incur out-of-pocket expenses before the operation is up and running.
The cost of gas continues to skyrocket in many parts of the country, reaching a record national average of $1.75 per gallon at the start of April. Most expensive state: California. Least expensive: Georgia and South Carolina.
Did you lose your laptop or leave your briefcase in a cab? Offer a reward.
Don't get creative in your tax-reduction arguments. Filing a "frivolous" tax appeal merely to stall payment can earn you a stiff fine in court.
Tax-bill compromises are binding.
Beat back IRS challenge on company loans.
Don't let compensation deduction slip away.
You never want your tax return to stick out like a sore thumb at the IRS. That's why it's good to know whether your deductions fall within the national averages.
If you've created a trust or are a trustee or beneficiary, you need to pay attention to the IRS' newly revised definition of "income" for trusts.