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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.

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Last month, California software firm Hyperion began offering
its employees $5,000 toward the purchase of gas/electric hybrid vehicles, such as the Toyota Prius or Honda Insight. The 1,500-employee company budgeted ...
You may be surprised to know that U.S. businesses lose an average of 6 percent of their annual revenues to employee fraud and theft, and smaller businesses are even more vulnerable. So, instead of just trying to shield your organization from outside intruders, you may want to focus security efforts equally (if not more) on [...]
A little-noticed provision in the new tax law will benefit employers who are looking to settle discrimination lawsuits for the lowest possible amount.
Victorious plaintiffs in discrimination cases can now ...
A little-noticed piece of a new tax law allows victorious plaintiffs in discrimination cases to take a full tax deduction for their attorney's fees and court costs. Until now, for example, ...
Under new Treasury Department rules, it's now easier for em-ployees to buy U.S. Savings Bonds through payroll deduction. Employees can arrange for a specific amount from their paychecks to be placed ...

Q: When my friend retired several years ago, she did not roll over her company stock into an IRA. (She had bought some of the stock and her employer gave her some.) If she sells the stock, will it be taxed as capital gain? F.G., King of Prussia, Pa.

Q. My parents want to give my sister and me $150,000 each to help pay for our children's college expenses. (My sister and I have a total of five kids.) But the gift would come in the form of stock shares. Won't we owe a lot of tax when we sell the stock? And won't my parents have to pay gift tax? Is there a better way to handle this?

Q: We sold our home in 1995 and took advantage of the full $125,000 home-sale gain exclusion available at that time. Now, we're looking to sell both our main Connecticut home and our winter home in Florida. Can we benefit from the home-sale exclusion again for either (or both) of these houses? H.R., New Canaan, Conn.

Q: I'm 62 and now work part time. If I choose to receive partial Social Security benefits this year, will I have to pay Social Security tax on my wages if I'm taxed on the benefits? R.O., Cleveland, Ohio

If you've never heard of a qualified terminable interest property (QTIP) trust, you should have.

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