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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 tax law gives you plenty of leeway to deduct contributions within generous limits. In fact, if you're like most donors, you probably aren't even aware that any limits exist.

We can't overemphasize the need to keep the required records for charitable donations, especially because the IRS is turning up the heat on donation deductions.

If you donate intellectual property (such as patents) to charity, you can claim a tax deduction for your generosity. But the 2004 tax law restricts what you can deduct.

Are you ready for a computer upgrade? If the answer is "yes," don't just toss out your old equipment.

The IRS just pulled the strings tighter on a tax loophole that it virtually closed last year. The agency issued a ruling that explains the tough new rules limiting deductions for charitable car donations. (IRS Notice 2005-44, Internal Revenue Bulletin 2005-25)

Instead of donating cash to charity, you might want to give away stock. Just remember to do things the right way.

If you plan to use an increasingly popular estate-planning tool—a charitable remainder trust (CRT)—be aware that you'll need to jump through some new hoops to preserve the trust's tax benefits.

Unfortunately, you can't deduct the value of your time and effort devoted to charity. But that doesn't mean your charitable deductions are limited to gifts of cash, stock or other assets.

Issue: More employers are adding voluntary benefits to beef up their benefits lineup at little cost.
Risk: By linking such programs too closely to your organization, they could fall under ...

It took many years, but self-employed people are now even-steven with other business entities when it comes to deducting health insurance. They can write off 100 percent of their health insurance premiums, including amounts paid for family coverage, up to the business's amount of net income.