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.

If your company is among the 80 percent of U.S. businesses that lease office equipment and furniture rather than buy it, you already know the benefits of leasing. But do you know the hidden pitfalls that can drive up your leasing costs?
They are rampant, according to the Better Business Bureau.
You may be trying to undercut competitors and attract business, but such a strategy will lose business in the long run, according to the Professional Pricing Society.
What triggers the wash-sale rule?
What is the policy on taxing foreign citizens who work abroad for U.S. firms.
Say you take out a bank loan and place that money in your personal checking account. Then you start to withdraw funds as needed. Over time, you use the account for several different purposes. You just bought yourself a whole peck of tax trouble. Why?
Is there a maximum amount that any employee can be paid based on the idea of reasonable compensation with interest?
What are the per diem deductions for merchant seamen?
If one of your parents or in-laws is suffering a financial pinch, you might chip in with part of the rent or some other expense. In return, grandma or grandpa happily volunteers to watch your children after school while you work. Unfortunately, you can’t claim a dependency exemption for this trade-off if your relative’s earnings rise above the gross-income test for dependents.
If your company expects to owe less than $1,000 in employment taxes annually, you’ll be able to file the new Form 944 (Employer’s Annual Federal Tax Return) once each year with your annual return, rather than filing Form 941 (Employer’s Quarterly Federal Tax Return) four times a year.