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.
The preferential federal income tax treatment for qualified dividends is well known. But many taxpayers believe that the tax benefits are limited to dividends received from U.S. companies. Expand your investment horizons. This tax break also includes dividends received from qualified foreign corporations.
Q. I paid fees for the first time for e-filing federal and state tax returns. Is this cost deductible on next year’s return?
Are you a casual gambler? Go ahead and enjoy yourself as long as you gamble within reason and only risk what you can afford to lose. And don’t forget about the tax consequences.
Q. Can I reduce my estate by giving gifts of stock from my company?
Q. Is there a penalty for withdrawing funds early from a Section 529 plan?
The tax extenders law passed in 2014—the Tax Increase Prevention Act (TIPA)—generated new life for a tax break for homeowners. Strategy: Cash in on energy credits for qualified expenses. The credit is available for qualified expenses paid in 2014.
Would you pass up a chance to pocket a half million dollars in tax-free profits? Not likely. Keep records to protect the generous home sale exclusion.
The IRS is testing out an appointment system at 10 of its largest walk-in centers around the country.
Four weeks into tax filing season, the White House announced that about 800,000 HealthCare.gov customers were sent forms with inaccurate tax information. Therefore, almost 1 million taxpayers may have to wait longer to receive refunds this year.
Usually, you don’t have to pay tax on income until you actually have the money in your hands. But that’s not always true.