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.
Most C corporations benefit from a graduated federal income-tax rate structure. But personal service corporations (PSCs) aren’t afforded that luxury. Their income is taxed at the highest corporate federal rate of 35 percent.
Starting with 2006 tax returns, you’ll have more “direct deposit” options if you’re entitled to a refund.
The IRS has launched a public-education program meant to address the growing federal tax gap—the difference between the amount taxpayers voluntarily pay and the amount actually owed.
Q I’ve started a new business venture with some friends. To attract clients, we plan to entertain people at a nearby country club. If I pay the annual club dues out of my own pocket, can I deduct the cost on my personal return?
Q An article earlier this year advised about claiming the child care credit if you pay your parents to baby-sit. We have a 14-year-old who is watching our two younger children this summer. Can we take the credit for paying her?
Q Please settle a bet: My friend says that LLCs are taxed like partnerships; I say they’re taxed as corporations.
Q I’m having a home built in Florida that includes a swimming pool, which my doctor prescribed for a heart ailment. Can I deduct the pool’s cost over time?
Good news: The IRS has just expanded the activities qualifying for Section 199 “manufacturing” deductions and liberalized other provisions starting in the 2006 tax year.
Claiming casualty losses for trees in a landscaped yard lost to insects
If you’ve often wanted to advertise on TV but found it too expensive, you might look into a growing crop of online companies that can make it easier—and more affordable—to create commercials and buy airtime.