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.
Combined income from marriage can stop you from converting a Roth IRA
As a small business owner, you generally can deduct 100 percent of your family’s medical insurance costs even if you’re self-employed. But you can do better taxwise by taking an unusual approach.
When you reach a certain point in
life, you’re generally entitled to receive Social Security retirement
benefits. Congratulations; you earned it. But it’s not as simple as
cashing a check each month. If you don’t stay on top of things, you’ll
have to give some of that money back to the government in taxes.
Sometimes, you just can’t avoid the last-quarter tax trap for business assets.
Guidelines for vacation home deductions
Some of the key provisions in the new tax law signed by the president last month won’t take effect for years to come. But that doesn’t mean you should sit on your hands in the meantime.
The usual Work Opportunity Tax Credit (WOTC) is equal to 40 percent of the first $6,000 in wages paid to a qualified worker during the year. It’s a year-round proposition.
The new tax law includes several other changes that haven’t received much attention.
Sorry, but you can’t take a summer vacation from tax planning. Take your eye off the ball midway through the year, and you could miss out on valuable tax deductions and credits ripe for picking. Here are 11 summertime tax moves that could make you smile come tax-return time.
In addition to the Roth IRA and kiddie-tax changes described above, here are other key provisions of the new tax law passed last month: