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.

Uncle Sam often gives with one hand and takes away with the other. For instance, several key tax breaks that were created by legislation in recent years are going off the books at the end of 2007 (unless Congress takes action to extend them).

Richard Rosenbaum, former president of RCI Inc., pleaded guilty in U.S. District Court, Western District of Michigan, to multiple counts of harboring illegal immigrants, tax evasion and fraud. Rosenbaum owes $16 million in restitution to the federal government and must forfeit more than $1.1 million in personal assets ...

A federal judge recently gave final approval to a settlement of a wage-and-hour lawsuit involving 500 primarily Latino janitors in San Antonio, Dallas and Chicago. Judge Amy St. Eve of the U.S. District Court for the Northern District of Illinois approved a $1,138,000 settlement compensating workers who were employed through Contract Cleaning Maintenance Inc. ...

Do you spend a good part of your day trading stocks? Elect stock-trader status.

When a Meridian Health employee lacked the money to bury a parent, she turned to the organization’s “When In Need” (WIN) employee emergency fund. Meridian Health, a group of nonprofit health care organizations in central New Jersey, created the WIN fund in 2001 ...

Although your business doesn’t have quite the same flexibility at year-end as individual filers, you still can reduce your 2007 tax bill. Here are eight top techniques usually available to small business owners.
Saving taxes is a year-round proposition, but tax planning takes on added significance at year-end. This Special Issue primarily is devoted to year-end tax strategies that can literally save you thousands of tax dollars. On the other hand, if you stand by idly, you’ll be missing out on valuable tax breaks.

Make a few smart moves as the year winds down, and you can slash the tax bills for both you and your business. The overall strategy: push income into next year and pull deductions into this year.

For your convenience, we’ve divided this year-end issue into two main sections:  personal and business. We offer you 10 ways to cut your personal taxes (starting below) and eight ways to trim business taxes.

Several key tax breaks are going off the books at the end of 2007 (unless Congress extends them), so take a look at our seven last-chance tax opportunities to cash in your tax chips now.

Issue: Employees too often see their base salary as their bottom-line compensation. Risk: Without a clear view of their total compensation package, employees become disillusioned and seek greener ...

Same work, fewer expenses and less hassle. That’s the perceived advantage of using independent contractors. But many employers have opted for freelancers only to find a new set of problems: lack of control, unreliable workers and, in some cases, litigation. It’s a complex issue that has invited wide scrutiny. A host of federal and state agencies are cracking down on employers that misclassify workers as independent contractors ...

A man who landed a job with the Penn-Harris-Madison (P-H-M) School Corp. after fleeing Hurricane Katrina has agreed to drop his race discrimination complaint in exchange for $15,000. As part of the agreement, the man will resign ...