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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“Oftentimes, businesses can get bogged down by incorrect information during reporting season, adding unnecessary confusion that can lead to penalties and fines due to unintentional noncompliance,” Bob Nault, CEO of Greatland says. “By understanding the deadlines, penalties and changing regulations, especially the new ACA regulations this year, reporting season can suddenly become a lot less stressful,” he says. Following is Greatland’s list for this tax season.
Employer-paid disability income insurance can be a valuable fringe benefit for employees, but it comes with a potential tax price. Depending on how you handle things, you may have to pay tax on the coverage sooner or later. Weigh your options. Then choose the tax route that’s best for your particular situation.

On Nov. 2, 2015, the president inked the Bipartisan Budget Act, ending two popular strategies for Social Security benefits. There’s still time for some workers to take advantage of the strategies. But the window of opportunity will close shortly.

Did your company overpay estimated taxes in 2015 because of lower-than-expected holiday sales or other fluctuations in income? Don’t wait until the filing date for 2015 returns—March 15, 2016, for calendar-year corporations—to recover the excess.
With the onset of cold weather in many parts of the country, grandparents of college-bound children may seek some warmth in a smart tax-saving device. Investigate the possibilities offered by a HEET.

You may often hear ads on radio and TV touting top-dollar deductions for donating a used car or other vehicle to charity. But it’s not always as simple as it sounds.

Questions about casualty losses, dependency exemptions, Section 179 and deducting the costs of a CPA's work,
If you give cash or a cash-equivalent gift to a qualified charity at year-end, you can generally deduct the entire amount of the donation. But IRS is a stickler in this area.
Here's a roundup of happenings in payroll tax, social security and the IRS.
In this global economy, even a small operation like yours may be doing business overseas. Learn the key tax rules for deductible foreign business travel. In some cases, just a minor change in your itinerary could provide a big boost in your tax deduction.