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.

Are you a rabid fan of your alma mater's sports teams or the local college powerhouse? There's a way you can pocket a nifty tax break while showing support for your favorite athletes.

Conservation easements, in which landowners can earn tax deductions for preserving their open land, are rife with abuse, the IRS says. That's why the IRS is cracking down on these tax goodies for wealthy landowners. The IRS has already fingered 240 taxpayers for audits relating to this tactic, with another potential 100 donors on the hit list.

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.

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 ...

Do your aging parents live in a home that's soared in value? Chances are, they've paid off the house, so they're not claiming mortgage interest deductions anymore. Even if they still deduct mortgage interest, they're probably in a low tax bracket now, so those deductions don't do much good anyway.

Q: We're interested in setting up an ESOP for a small corporation. Do we need a lawyer or CPA to handle the paperwork? W.S.B.

Suppose business is booming and you've been able to gobble up one or more of your competitors. Your work force is growing, but that means you'll need to shell out more in payroll taxes.