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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.

The IRS has implemented several key changes in the tax-reporting rules for small businesses.

You probably contribute your fair share to charity. In fact, you might make some last-minute donations to boost your charitable deductions. But is your small company doing anything to help those less fortunate?

It’s a little-known detail within some state labor laws, but in California, for example, the issue could end up costing an employer big.
Are you fully vested in your 401(k) after only four years?
Chances are, your parents or in-laws are still living in a big, sprawling place that’s worth a ton more than they paid for it. If the mortgage is paid off — or close to it — they can’t squeeze much tax juice from the home other than property-tax deductions.
You probably contribute your fair share to charity. In fact, you might make some last-minute donations to boost your charitable deductions for 2006.
Instead of discarding old items, you might try to sell them on eBay or similar Web sites. After all, one person’s trash is another person’s gold.
Deducting interest on loans used to buy a boat if it's used as a home
The clock will soon strike midnight on New Year’s Eve. But you still can make a few tax moves before then to cap off a tax-saving year.
Acquiring a competing S corp as a subsidiary.