Q: I am a self-employed contractor and take in about $90,000 a year from my business. You said the new maximum expensing allowance is now $100,000, so can I write off the entire cost of a new $30,000 piece of equipment if I buy it in December? M.W., Lynbrook, N.Y.
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.
Frequently, a divorcing couple can't agree on which of them should claim the dependency exemptions for the children. If you can't decide, the court will do it for you. And that could yield the worst possible result for you.
Q: My neighbor went to a retirement planning seminar and talks about a new concept called "split annuities." Are split annuities tax-deferred like regular annuities? J.Z., Mayo, Fla.
Q: I've heard that I might pay tax on Social Security benefits because of the tax-free income earned by my IRAs and Roth IRAs. How can this be true? R.S., Eagle, Colo.
Benefit: Voluntary benefits let you beef up your benefits without much additional cost. ...