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.
Most states allow you to take a tax deduction or credit for buying long-term care insurance. Here’s a breakdown of those tax breaks, according to an AARP analysis.
Don’t close the books on the 2005 tax year just yet. 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.
If you own a second home in a resort area and you’re using the place less often than before, why not turn that beach cottage or mountain cabin into a revenue producer by renting it out? This can turn out to be a tax-efficient strategy.
Will a grandson be taxed for income earned from an account set up by grandparents who do not claim him as a dependent?
The answer to the age-old question above depends on many factors, not just taxes. But now that first-year bonus depreciation deductions are a thing of the past (they expired after 2004), the pendulum has swung in a new direction.
Qualifying for the new manufacturing deduction.
If you run a small business or own stock in an up-and-coming company, you may be in line for two little-known tax breaks.
Say that you bought 100 shares of Jones Co., a qualified small business, for $10,000 on June 1, 2001. On May 1, 2006, you sell the shares for $100,000.
Do I need to file Schedule C if I've started a business with my wife?