Small Business Tax Deduction Strategies

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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The IRS can disallow deductions for travel expenses, including those for business car use, if you don’t keep adequate records.
Do your children help out at the office while they’re off from school? You can reward them at the same time you save tax overall.
If you’re tempted to buy the latest computer as soon as it hits the market, think wisely about what to do with your obsolete model.
If you’re having trouble selling your home, be aware that you can’t claim a tax loss on the sale of a principal residence.

It’s often important for business owners and managers to keep in touch with employees via cell phone (or similar mobile devices), especially when workers often go out on a job.

Usually, a married couple keeps “his” and “hers” automobiles. In other words, you drive your car, and your spouse drives a different car. This situation is even more common when one spouse uses a car mainly for business driving.

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. It’s not as prevalent as it was years ago, but Saturday night stay savings are still around.

There’s a way you can make your charitable donations count while maximizing the tax benefits allowed under law.
Are you planning to take a refresher course at a local school?
Typically, you can provide protection for your family by securing life insurance coverage. But how much will they actually receive after Uncle Sam claims his fair share? It depends on how you handle things.
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