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.

Figure taxes into the equation before you sign the papers for a new business vehicle.
Here are some of the most common technical adjustments and tax preferences under the Alternative Minimum Tax (AMT).

Wouldn't you like to get away to a tropical paradise this winter? If you sign up for a convention relating to your industry or profession, you can have Uncle Sam pick up part of the tab. As long as business is the trip's primary purpose, you can write off all your convention expenses. It's like a tax discount on the trip.

Don't plan on deducting use of a vacation home made as a donation
Premiums paid by a company for LTC insurance are exempt from income tax
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.
As one of your company’s highest-paid employees, you probably think you deserve a bigger profit-sharing contribution than most other employees. But the tax law’s tough nondiscrimination rules can work against you.
Suppose you’re in the market for a new business vehicle. Normally, the dealer will agree to a trade-in value for your old auto that reduces the cash you have to shell out for the new one.
Life insurance is a worthwhile security blanket for well-to-do people. However, this protection can extract an unexpected tax cost for the unwary.
Figuring tax deductions for a truck not originally used for business