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.

Page 40 of 278« First...102030394041506070...Last »

Q. My brother and I own real estate jointly, but he made the down payment. Will the property be included in my estate if I die first? Las Vegas

Are you sure that your tax return preparer really has the credentials that he or she claims to have? The IRS is checking up on those who profess to be attorneys, certi­­fied public accountants or enrolled agents. Why?

Q. We couldn’t afford to pay a company officer while we worked on a project. Now that we’re paying him in 2013, can we call it a loan? R.B.T., San Mateo, Calif.

If your small business owes federal payroll taxes to the IRS and you’re still under the gun, don’t despair. The IRS doesn’t want you to shoot yourself in the foot.

A government watchdog is barking at the IRS for missing tax frauds relating to identity theft. The Treasury Inspector General for Tax Administration (TIGTA) has recommended that the IRS make the following changes in its procedures.

In a landmark case decided last year, the Tax Court allowed a tax­­payer to use a formula clause to pass assets to heirs through a family limited partnership. The case was widely applauded by the tax community. Alert: Don’t count your chickens just yet.

Q: What happens tax-wise when I trade in one business car for another? Do I have to pay the IRS any tax on the value negotiated with the dealer?

According to new IRS statistics, the top 1% of all tax return filers (i.e., those with an AGI of at least $369,691) paid 37.4% of all federal income taxes in 2010, the last year for which the IRS has analyzed data.

Whoever says there are no more great tax shelters left hasn’t looked at life insurance lately. Strategy: Acquire permanent life insurance on the family’s main breadwinner. If you’re already insured, consider adding extra coverage.
You’ve probably seen the ads for “no-cost mortgages” on TV or heard them on the radio. The pitch often appeals to potential homebuyers who want to avoid closing costs. Strategy: Crunch all the numbers before you commit.
Page 40 of 278« First...102030394041506070...Last »