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.

If you own a second home in a resort area and you’re using the place less often than before, why not turn that beach cottage or mountain cabin into a revenue producer by renting it out? This can turn out to be a tax-efficient strategy.
The answer to the age-old question above depends on many factors, not just taxes. But now that first-year bonus depreciation deductions are a thing of the past (they expired after 2004), the pendulum has swung in a new direction.
Wondering about restrictions on claiming tax deductions for work performed by foreigners?
The U.S. Tax Court continues to be cold as ice to U.S. citizens working in Antarctica.
If you’re able to retire with a small fortune in your company retirement plan, you’re way ahead of the game. But too much of a good thing can turn into a bad thing. Specifically, if you should die with most of your nest egg intact, your family could get walloped by income tax, on top of a hefty estate-tax bill.
Suppose your business has patented various processes or products that are vital to its existence. Now, you have to obtain another company’s proprietary information in order to expand your operation.
It’s been going on for years: Business owners frequently clash with the IRS over worker classifications.
I gave away appreciated stock to charity to avoid tax on the gain. But now, I want to buy the same  stock again. Does this violate the wash-sale rule?   A.M.A., Lynbrook, N.Y.
I use a corporate credit card to pay business expenses, including inventory items. I’ve racked up a lot of reward points that I’ll use for both business travel and personal travel. Do these points count as taxable income? J.W.
The IRS just released official guidance on the 2005 energy-tax law that revamps the type of tax credits you can earn for buying environmentally friendly vehicles. (IRS Notice 2006-9)