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.

Using a Section 179 write-off for a sideline business
It’s likely that you hold property jointly with your spouse. Unfortunately, that can lead to tax confusion when you sell, bequeath or transfer your property. Plus, seemingly innocuous withdrawals can cause tax complications if you’re not careful.
Are your employees in a rut? It’s easy for them to fall into the trap of going through the motions. Here’s a way you can lift their spirits without giving away the farm.
The personal computer (PC) has become part of the average American household. But if you’re self-employed and you use your PC extensively for business, you can lose valuable depreciation deductions by allowing family members to use it.
In short, the first $5,250 of expenses you pay on behalf of each participating employee is tax free. It doesn’t matter whether you reimburse employees for their expenses or pay the fees directly to the school.
More former business owners can rest easy in retirement. Here’s why: Congress is expected to protect ex-partners of former partnerships from having states pursue them for back taxes.

If you fall prey to a natural disaster or some other casualty—including theft—you may be able to write off some of your financial loss. And with the right tax moves, you’ll get an even bigger deduction.

The personal computer (PC) has become part of the average American household. But if you’re self-employed and you use your PC extensively for business, you can lose valuable depreciation deductions by allowing family members to use it.
Once you’re into middle age, you should start socking away as much for retirement as you possibly can.
Within a few weeks, the kids will be back at school. But they’re not the only ones who can benefit from education. Your employees might need some extra training to stay sharp.