Whether you received a big refund this year or owed a bunch, now's the time to alter your salary withholding or estimated tax payments so you won't run into the same situation next year.
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.
Your company can claim the disabled access tax credit for money spent making the business more accessible to disabled people.
You've read the advertisements: Save money in the long run by replacing your regular monthly mortgage with a mortgage paid biweekly (every two weeks). It's a sound principle, and it can save you money. But don't assume it's always a slam-dunk.
Q. I'm at the stage of my life where I should reduce the size of my taxable estate. I am thinking of cashing in some mutual funds and giving the proceeds to my six grandchildren (ages 3 to 15). This should reduce my estate, and I can qualify for the gift-tax exclusion. I also want to reduce my assets in case I need to go into a nursing home, but I don't want to lose control of my funds. Does this make sense?
As the cost of gas continues to soar, more people are rethinking the way they write off their business driving expenses.
If you work at a central location—say, a company office downtown—and you take work home on nights and weekends, you typically won't qualify for home-office deductions. Reason: Your home office is not your "principal place of business." The downtown office is.
Q: I just started a new sales job in which I'm required to keep valuable samples at home. So I have decided to install a pretty expensive home security system. Can I deduct that cost as a home-office expense? R.N.T, Springfield, Ill.
Real estate values are scorching hot in many parts of the United States. If you're sitting on some big-time appreciated property, check out the following three strategies for minimizing your tax bill
Q: I am the 50 percent owner of an S corporation. Can I deduct company-paid health insurance premiums on my personal return without forfeiting the expense due to the reduction in itemized deductions? J.L., via e-mail