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.
How much of your budget is allocated to fringe benefits? In the past, this may have represented just a sliver, but now employee benefits frequently take a much larger piece of the pie. Strategy: Set up a Section 125 “cafeteria plan” that provides a menu of tax-favored fringe benefits to choose from.
Suppose the only other employee in your sole proprietorship is your spouse who does the bookkeeping and billing. After a few lean years, business is booming and you want to sock away as much for retirement as you possibly can. Strategy: Set up a solo 401(k) plan.
Q. My accountant says that part of my capital gains qualify for a 0% federal tax rate this year. Is that possible?