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.
I’m starting an Internet-based business with my brother. Since our state of incorporation can be virtually anywhere, should we incorporate in Delaware as our home state for income tax purposes? D.J., Boulder, Colo.
I’ve lost money in the stock market this year, so I expect to owe less tax than I did in ’05. Can I decrease the tax withholding at my job to make up some of the difference? J.G., Tuckerton, N.J.
My business shares a warehouse with other tenants. We have five years remaining on our lease, but the building has 14 years left to be fully depreciated. If I expand my part of the building, do I depreciate the cost over 14 years instead of five? B.B., Cleveland
When traveling internationally on business, a few simple itinerary changes can help you save big on taxes
Does your company need a quick cash transfusion to keep operating on all cylinders? That could be a problem if the company owes you money for a prior debt.
If you’re not careful, you could be held liable for the estate’s federal tax debts. In other words, instead of paying the amount that’s due out of the estate’s assets, you might have to come up with the tax payments out of your own pocket!
The home-sale gain exclusion is probably the largest single federal income tax break for individuals. If you qualify, you can pocket up to a half million dollars of tax-free profit from the sale of your home with no strings attached.
Are you getting ready to hand over the reins of your corporate business to the younger generation? Typically, you might arrange to sell shares of company stock to your successors or simply give the stock to them.
Is your daughter or son marrying soon? You’ll probably lose a tax exemption when your child marches down the aisle, but that doesn’t mean the happy couple has to suffer, tax-wise.
Incorporating in Delaware has no impact on federal income taxation.