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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Q: I have several IRAs and just turned 70, so I must start taking withdrawals next year. Do I have to take money out of each IRA? A.S., Yardley, Pa.

When switching business insurers, don't just weigh coverage and cost. Also check out the insurers' claims-filing procedures.

Q: My wife has taught in public schools for 30 years and participated in a 403(b) plan the entire time. Now she's thinking about opting for early retirement. Does she need to wait until she retires to roll over that money into an IRA? C.T., Sacramento, Calif.

Q: I am selling a vacation home. My daughter owns a lot where I can build a new house. Can I roll over the profit from the old home into the new home tax-free? R.C., Dunwoody, Calif.

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

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.

The IRS says your company can provide free e-filing of employees' tax returns.

Did you buy a place in the country in the days before suburban sprawl? If so, you can nail down a tax deduction this year simply by agreeing to preserve the land in its pristine state.

Why bother tracking your medical expenses? Tax rules say you can start deducting unreimbursed medical expenses only after they exceed 7.5 percent of your adjusted gross income (AGI). So if your AGI is $100,000 this year, you'd need to fork over $7,500 of your own cash before you can deduct one single nickel.

Q: My company is being investigated for making illegal kickbacks. (I wasn't involved in the allegations.) If we are found guilty, are the payments at least tax deductible? No name, via e-mail

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