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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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Tell the IRS you're on the move. The IRS is only required to send notices to your "last-known address." So if you don't send the IRS a change of address form (Form 8822), you usually can't claim that you weren't notified in time. But you may be able to rely on your other IRS filings. Recent case: The Tax Court ruled that a taxpayer had provided "clear and concise" notification of an address change when he filed a power of attorney (Form 2848). (Hunter, TC Memo 2004-81)

When shopping for business insurance, don’t weigh only coverage and cost. Also check out the insurers’ claims-filing procedures.

Taxpayers are receiving better and faster service at IRS offices around the country, according to a study by the Treasury Department's inspector general.

IRS bigwigs are predicting increased audit activity of employer retirement plans.

Take home more pay. If your teen works a summer job, taxes can put a dent in his or her take-home pay.

Think you're immune from the alternative minimum tax? A new case shows how even low-income taxpayers are being hit.

Does your company need a quick capital transfusion to keep operating? If so, consider forgiving money the company owes you and treating it as a contribution to the corporation. Done properly, this is a tax-free transaction for you and the corporation.

You aren't allowed to deduct the value of services you personally provide to a charity. But you can deduct the cost of someone else's services.

Democratic presidential candidate Sen. John Kerry unveiled his plan this month to offer small business owners a mix of tax breaks and government help in exchange for lowering health insurance costs for employees.

If you want to pay the absolute minimum to Uncle Sam, tax planning must be a year-round pursuit. With summer right around the corner, you can cash in on several key tax breaks by springing into action now. If you procrastinate until the end of the year, you'll miss out on valuable deductions and credits for yourself, your business and your family. This special report explains a dozen timely moves you should take before the leaves begin to fall.

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