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.

Every year, it seems like the stock market is a roller coaster. It’s pretty hard to keep your equilibrium. But there’s a way that savvy investors can aim for the best of both worlds: an uptick if prices rise and some protection if prices free-fall. Strategy: Consider the pros and cons of convertible bonds.

The tax credit for hybrid vehicles is scheduled to expire after Dec. 31, 2010. So if you’re in the market for a hybrid, you may want to take advantage of a current deal, with a tax break to boot. However, be aware that the tax credit is reduced or no longer exists for some of the top-selling models.

Are you having trouble selling your home? If you advertise the place for rent, you can generally deduct maintenance and depreciation on the home, whether or not you find a tenant. But be careful ...
Those rock-bottom tax rates for long-term capital gains and qualified dividends you’ve cherished the past few years are set to expire after 2010 … unless Congress takes action and the president agrees. Strategy: Don’t stand by idly while those tax cuts go by the boards. Here are five ways you might wring more tax savings from capital gains and dividends.
The federal estate tax law remains in flux. But with Congress seemingly unable to resolve the matter anytime soon, the current law repealing the estate tax for 2010 remains in effect. If you’ve been left in a quandary about estate planning, you’re certainly not alone. Nevertheless, you could make several logical moves this year.

These are tough times, and sometimes businesses run short on cash. Or a banking mistake may result in fees that cause other checks to bounce. If that happens to payroll checks, make every effort to fix the problem as soon as possible. Not only are employees entitled to their pay, some have resorted to suing their employers for bouncing paychecks.

California is a great state—for employees who want to sue their employers. Even the wage statements employees get with their paychecks can lead to lawsuits. Advice: Have your attorney take a look at those pay stubs to make sure they comply with California wage-and-hour laws.

Hilary Koprowski, the Polish-born developer of the precursor to Albert Sabin’s oral polio vaccine, has sued Philadelphia’s Thomas Jefferson University Hospital after it shut down his research lab. The hospital claims Koprowski’s lab doesn’t bring in enough grant money to fund its operation.
Senior citizens participating in the Medicare Part D prescription drug program may be in line for a special tax-free rebate. As authorized by the new health care law, Medicare will be sending out $250 checks to individuals who have prescription drug expenses exceeding the threshold of $2,830 for the year.

Employees who claim they have been discriminated against typically have to show that their employers singled them out for poor treatment because of a protected characteristic. It’s easy for employers to counter that if they can show they always act in good faith. The best way to do that is to apply the rules equally to every employee.