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.
Qualifying for the new manufacturing deduction.
If you’ve invested a lot of your retirement plan funds in your employer company stock (including a company you own), you may be in line for a big future payday. When it comes time to retire, you can choose to cash out by having your retirement account sell the stock, or you might decide to simply take your payout in the form of company stock. Which is best?
You’ve worked hard to build up a nest egg to leave to your heirs. But have you considered the possibility of an extended stay at a nursing home?
Most states allow you to take a tax deduction or credit for buying long-term care insurance. Here’s a breakdown of those tax breaks, according to an AARP analysis.
Thanks to a new law passed last year, you can take a lifetime tax credit up to $500 for the cost of energy-efficient improvements to your home. The key word is credit, which is a dollar-for-dollar reduction of your tax bill—much better than a simple deduction.
If you own a second home in a resort area and you’re using the place less often than before, why not turn that beach cottage or mountain cabin into a revenue producer by renting it out? This can turn out to be a tax-efficient strategy.
Don’t close the books on the 2005 tax year just yet. Higher-income families who filed for an extension on their individual returns may still be able to slip through a newly discovered, unintended tax loophole to trim even more taxes.
Say that you bought 100 shares of Jones Co., a qualified small business, for $10,000 on June 1, 2001. On May 1, 2006, you sell the shares for $100,000.
Do I need to file Schedule C if I've started a business with my wife?