Q: Our small company does not have a retirement plan. Can the company contribute to a Roth IRA on my behalf if I'm one of the company principals? P.H., Columbia, Md.
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.
Relax; take an automatic extension.
Buy extra time for hardship situations.
Postpone payments when living abroad.
Military taxpayers earn extra time to file.
Q: As always, I mailed my 2003 tax return as soon as possible. But soon after I mailed it, my broker sent me a corrected Form 1099 that restated dividend income. Do I have to file an amended return, even though it was the brokerage firm's error? K.R., Crawfordsville, Ind.
Section 529 plans are the best way to save for college. Withdrawals are totally free from federal income taxes. But if you've been dragging your feet about launching a Section 529 plan, you have new incentive to act quickly
Q. I set up a Roth IRA in late 1999. I'm turning 59 in May, so I'm wondering when I can start taking tax-free distributions from the Roth. Do I have to wait until the account has been open exactly five years or can I begin distributions any time this year?
President Bush is once again pushing Congress to radically reshape America's savings plan system, creating three new tax-preferred investment accounts.
Q: I invested in a variable annuity when I was 39. Now that I'm 52, I want to begin withdrawals to help pay my daughter's college expenses. Will I have to pay an early withdrawal penalty? D.T., Raleigh, N.C.
If you're an owner/executive of a C corporation, it's time to sit down with your tax adviser to see if your compensation passes IRS muster.
One of the good things about owning a business is that you can give yourself some nice perks, like a company car. This Special Report explains strategies to: (1) minimize the tax hit on corporate-owned cars provided to you and other key employees and (2) maximize the tax savings for your corporation.
Uncle Sam often examines deductible travel expenses through a magnifying glass. So both employers and employees must meet strict recordkeeping rules—or face the consequences.