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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One of the biggest and best individual federal income tax breaks on the books is the home sale gain exclusion.
Are you finally pulling the trigger on a Roth conversion? You might want to take more than one shot.
Keep track of job-hunting expenses. If you qualify, you can write off those costs as miscellaneous expenses on your personal federal income tax return.
The April 18 (April 19 if you live in Massachusetts or Maine) tax return filing deadline for individual taxpayers is fast approaching.
Make energy-saving improvements in your home. Many costs will qualify for an energy tax credit—a dollar-for-dollar reduction of your tax bill—on your next return.
The Work Opportunity Tax Credit has returned. This credit for hiring economically disadvantaged workers expired at the end of 2014, but it was revived by the Protecting Americans from Tax Hikes Act.

Suppose you help support an elderly relative such as a parent, in-law or favorite aunt or uncle. Frequently, you can’t claim the relative as a dependent because of the tax-law limits.

Do you own a vacation home that you personally use all the time? You could be in line for a unique tax break.
Perhaps an elderly relative—say, a parent or in-law—has moved to a continuing care retirement community (CCRC) to receive the daily assistance he or she needs.
Do you own undeveloped real estate that you would like to preserve in its pristine state?