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.

The answer to the age-old question above depends on many factors, not just taxes. But now that first year bonus depreciation deductions are a thing of the past (they expired after 2004), the pendulum has swung in a new direction.
The IRS has addressed the tax consequences of environmental cleanup costs in several rulings over the past few years. Although the details differ, the basic thrust is the same: Cleanup costs generally must be capitalized, which means your business earns no current tax benefit for the expenses.
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?
With the alternative minimum tax (AMT) becoming a maximum nuisance for many taxpayers, it’s smart to recognize the AMT danger zones early.
Claiming alimony deductions for the value of a house during an acrimonious divorce proceeding.
Cashing in Series EE bonds as co-owners
Have you reached the point where your “to do” list is so long that you can’t decide which task to tackle first? Learning to manage competing priorities is a critical skill for small business owners. Use this four-step process to tackle tasks more effectively.
Will a grandson be taxed for income earned from an account set up by grandparents who do not claim him as a dependent?
The answer to the age-old question above depends on many factors, not just taxes. But now that first-year bonus depreciation deductions are a thing of the past (they expired after 2004), the pendulum has swung in a new direction.
Qualifying for the new manufacturing deduction.