In a recent article, we pointed out several tax benefits for hiring a spouse. But your “better half” isn’t the only family member you can add to the payroll. Strategy: Give your children after-school jobs. By doing so, you can reduce the overall family tax bill and also avoid adverse "kiddie tax" consequences.
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.
Is your child a high school senior? A gifted student may qualify for a college scholarship based on a specific talent, experience or achievement. Strategy: Aim for tax-free scholarships. That doesn’t mean your family should turn down awards that are taxable. But a tax-free scholarship provides more bang for the buck.
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.