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.
Taxes may be the last thing on your mind when you’re bogged down in a messy legal battle. But errors in the way you draft a settlement agreement could mean thousands of dollars going to Uncle Sam instead of into your pocket.
Congress is considering reforming (permanently, this time) the confusing federal estate-tax law. But don't wait for Congress to act before revisiting your personal estate plan. Changes already scheduled to take effect at year-end hasten the need to dust off your family's estate plan later this year, regardless of Congress's actions.
Is income from a trust taxed as ordinary income?
Two separate studies have found that people aren’t taking advantage of two very basic breaks from work: lunch and vacation. A May survey of 1,000 office workers found that more than half of them take 30 minutes or less for lunch.
How do you figure the amount available for a partial exclusion? Multiply the available exclusion by the appropriate ratio.
Writing off car damages from a trip acting as director on the board for a charity.
Does it still make sense to use home-office deductions if the IRS is cracking down?
Second audits can go differently than the first
As a small business owner, you generally can deduct 100 percent of your family’s medical insurance costs even if you’re self-employed. But you can do better taxwise by taking an unusual approach.
When you reach a certain point in
life, you’re generally entitled to receive Social Security retirement
benefits. Congratulations; you earned it. But it’s not as simple as
cashing a check each month. If you don’t stay on top of things, you’ll
have to give some of that money back to the government in taxes.