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 contentious tax law signed by President Obama last week brings tax savings to workers nationwide—and contains several provisions that will affect HR. Here's a round-up of various elements—from Social Security withholding to tuition reimbursement to on-site child care—that you'll have to deal with when the law takes effect on Jan. 1.

The new tax law signed by the president on Dec. 17 finally resolves the uncertainty over federal estate taxes … at least for the time being. The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 increases the estate-tax exemption and lowers the top estate tax rate for a two-year period.

Q. Regarding the adoption credit, can my son still claim the credit if he is reimbursed by his company for some expenses?
With electronic filing becoming so popular, the IRS decided it will no longer mail individual and business taxpayers paper income tax packages.

For business people, LinkedIn is the most important social media tool. Think of it as a business mixer where everyone displays their critical information on their chests. Like everything else in life, I will form an opinion of you and how seriously you regard this tool in about five seconds. For now, focus on these most influential parts of your profile:

Here’s a timely reminder for older business owners: Don’t forget to take required minimum distributions (RMDs) from company retirement plans and IRAs this year. You generally have until Dec. 31, 2010, to complete RMDs. Otherwise, you’ll be hit with a whopping tax penalty.

On Dec. 17 the president signed the “Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010” into law. This new legislation includes a slew of tax breaks across-the-board. Here are the top 20 for individuals and businesses.

Some little-noticed changes in the massive new health care legislation may affect flexible spending accounts in 2011. Strategy: Fine-tune your annual allocation to a health care FSA. Your decision during the open enrollment period should reflect new restrictions on qualified expenses. The same basic changes apply to Health Savings Accounts.

Q. I just realized that I exceeded the annual limit on 401(k) deferrals. Am I in any trouble?
Q. If I contribute real estate to a charity, do I have to recapture depreciation deductions on the property?