Q: I have a carried-over capital loss of $6,500 from last year. Can I use this loss to offset some of my income from a required IRA distribution? S.B., Toms River, N.J.
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.
By disclaiming an inherited IRA, you can pass the account along to someone else, free of gift tax.
If you shut down a business, you can't just lock the doors and turn out the lights. You must provide employees with W-2s by the due date of your final Form 941.
New legislation proposed by Sen. Connie Mack (R-Fla.) would allow children of any age to own a Roth IRA.
The proliferation of S corporations has not gone unnoticed by the IRS. S corporations are now the most common corporate entity, accounting for nearly 60 percent of all corporate returns filed.
The push to audit S corporations (described above) is part of a larger IRS initiative to examine more returns, particularly of small business owners. Don't think you're immune just because you've been able to fly under the radar so far.
The IRS plans to give you even more time to complete your 2005 individual Form 1040 next year.
For busy businesspeople, cell phones, laptops, PDAs and other portable devices are essential. Usually, the company buys such devices and gives them to higher-ups and other employees who need them.
Do you need extra cash to pay for your child's (or your own) college tuition? When you've exhausted other conventional sources, you can turn to your IRA in a pinch, even if you're younger than the age generally required for penalty-free distributions.
Normally, you must depreciate the cost of business or commercial real estate over 39 years. In comparison, you can depreciate residential rental property much faster over 27.5 years.