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.
Adjusting depreciation on a building you are expanding
Calculating the year on home-sale exclusion based on principal residence
Are you getting ready to hand over the reins of your corporate business to the younger generation? Typically, you might arrange to sell shares of company stock to your successors or simply give the stock to them. But take note: Each of these options can carry a heavy tax price.
How can you save for retirement while operating your business? At one time, small business owners were often left out in the cold. But retirement savings isn’t just for the “big boys,” anymore.
The home-sale gain exclusion is probably the largest single federal
income tax break for individuals. If you qualify, you can pocket up to
a half-million dollars of tax-free profit from the sale of your home—no
Higher-income families who filed for an extension on their individual returns may still be able to slip through a newly discovered, unintended tax loophole to trim even more taxes. (Or, if the extra tax savings are worth it, you may want to file an amended return to secure those savings.)
Small business owners now have more time to bring their SIMPLE IRA plans up
The new IRS tables for business vehicles placed in service in 2006 set
the depreciation limits...
IRS audit rate continues to climb, especially for taxpayers earning
more than $100,000.
If you’ve invested a lot of your retirement plan funds in your employer
company stock (including a company you own), you may be in line for a
big future payday. When it comes time to retire, you can choose to cash
out by having your retirement account sell the stock, or you might
decide to simply take your payout in the form of company stock.