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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Just before the government shutdown, the IRS issued new higher per diem rates for the 2014 fiscal year (FY 2014) spanning Oct. 1, 2013, through Sept. 30, 2014. A private employer may rely on these rates to substantiate employee travel expenses without having to do a strict accounting.
The IRS has announced that employers are able to modify the long-standing use-it-or-lose-it rule bedeviling flexible spending accounts (FSAs) used for health care ex­­penses. The onerous rule requires em­­ployees to forfeit FSA funds if they don’t use those amounts by the end of the plan year.
It now costs a little less to obtain tax return copies. Effective Oct. 1, 2013, the fee has been reduced from $57 per copy to $50, thanks to technological improvements.
Q. We use a baby sitter to watch our children after school. Are we responsible for a nanny tax?
The much-discussed legislation that would impose sales tax on Internet ­sellers appears to have stalled in Congress.
Due to the relatively generous estate and gift tax provisions included in the American Tax­­payer Relief Act (ATRA), estate planning is easier than it was before. However, it can still be tricky, especially if your spouse isn’t a U.S. citizen.
Keep this tax calendar, which features the key filing deadlines for 2014, bookmarked for reference during the year.
If you travel extensively on business, you probably know the drill: Either the airline or hotel, or both, may offer a lower rate if the stay includes a Saturday night. What’s the tax perspective?
A Treasury Inspector General of Tax Administration (TIGTA) report suggests the IRS can do a better job by expanding audits to cover multiple years.
Under a new pact between the United States and Switzerland, Swiss banks may volunteer vital information about U.S. citizens so the banks can avoid criminal prosecution by U.S. authorities.
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