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.
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.
Tax law takes a two-tiered approach with Social Security benefits. Here’s how it works.
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.
Due to extenuating circumstances, you may not qualify for the giant home-sale gain exclusion when you sell your principal residence. But if you can’t get the whole loaf of bread, at least grab a slice of it.
Are you planning to sell your business soon? Your huge payday could turn into a huge capital gain. But you can reduce your resulting tax bill, provide for a comfortable retirement and help out a favorite charity in one shot.
Used judiciously, instant messaging (IM) allows your business to cut down on long distance charges, conduct real-time interaction with clients, and host chats and conferences with vendors. But used without guidelines, it can hamper productivity, embarrass you and even jeopardize your company’s trade secrets.
Seventy-seven percent of small businesses aren’t prepared for a natural disaster, and 84 percent don’t worry about being the victim of one within the next 12 months, a recent survey by MasterCard International indicates.
Under the “wash sale” rule, you can’t deduct a loss from the sale of a security if you acquire a substantially identical security within 30 days of the sale.
Generally, you can deduct moving expenses only if they’re related to your job. You must meet a tough two-part test to qualify for deductions even if you’re pulling up stakes for a job switch.