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.
In general, your annual deduction for investment-interest expense is limited to the amount of your net investment income; you must carry forward any excess. As the year winds down, you may not have enough investment income to deduct all your investment-interest expense.
Figuring tax deductions for a truck not originally used for business
Q. In the past, I’ve done a lot of business driving in my car: about 25,000 miles a year. But because of gas prices, I’ve cut down this year. Will this cause any problems?
Home office deductions may undergo a makeover in the near future. The IRS is working on a simplified method for computing write-offs.
Q. Can I deduct the cost of the gasoline tax in my state under the federal sales-tax deduction?
Two new tax laws passed this year —the Tax Increase Prevention and Reconciliation Act (TIPRA) and the Pension Protection Act (PPA) — have added a few new wrinkles to the mix.
Despite conventional wisdom, year-end planning isn’t just for personal tax savings. Your business can do plenty between now and Dec. 31 to cut its tax bill. Nine tips:
You can make some tax-wise choices in your financial affairs to improve the outlook for this year and future years. Here are several ideas.
Expect Congress to return after Election Day for a lame-duck session that could revive certain favorable tax provisions that officially expired at the beginning of the year.
Can you believe it’s practically November already? With the end of 2006 approaching fast, it’s time to cash in on some unique taxsaving opportunities that won’t be available come Jan. 1.