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.

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If you’re a procrastinator, you might wait until the last minute to file your personal tax return. Perhaps you’re delaying the inevitable because you figure that you’ll owe a hefty tax bill. You still can cut your tax bill at this late date. Here are seven strategies:

Due to the personal casualty loss limits, it’s unlikely that you will be able to deduct any repair costs if your spouse damages his or her car this winter. Start using the damaged car for business driving. Then you can claim a casualty loss for the car, even though your spouse was using it personally at the time.

In the Tax Relief and Health Care Act of 2006, Congress threw a bone to alternative minimum tax (AMT) victims who’ve been granted incentive stock options (ISOs). Crazy as it seems, you might think about retiring to truly benefit.

If your organization uses leased employees, you may want to check out the company that's providing those workers ...

Q. We’re a small company (fewer than 20 employees) and don’t keep time sheets. Our entire staff is salaried. We expect employees to make up personal time and sick time (neither of which affects their vacation time or holiday time). Are we wrong to expect that if a salaried employee takes two hours for a doctor’s appointment, he or she should make up that time later? —M.V., Florida

Pennsylvania employers will have to go to greater lengths to keep employees' and customers' Social Security numbers private in the wake of new legislation signed by Gov. Rendell this summer ...

S.P. Richards Co. (SPR), a Smyrna office-supply wholesaler, recently won an FMLA victory when the 1st Circuit Court of Appeals determined it would be considered separately from its parent company, Genuine Parts Co. ...

Q. We require employees to wear uniforms. Can we deduct from their paychecks the money to pay for the uniform or clean it? —L.B., Massachusetts

State Rep. Linda Bebko-Jones (D-Erie) has proposed a 10 percent payroll tax on businesses and a 3 percent personal income tax to provide universal health care coverage to Pennsylvanians. State Sen. Jim Ferlo, (D-Allegheny) proposed a companion bill earlier in the session ...

With the Pennsylvania economy doing well and unemployment down, the commonwealth has decided to reduce the amount that employers will have to pay into the unemployment compensation (UC) system in 2007. UC taxes on employers will decline by an estimated $158 million ...

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