Yes, the new 15 percent top rate on capital gains is good news for real estate investors. But if you sell investment property, your actual tax bill can be much higher than 15 percent of your gains, due to earlier depreciation deductions. (Gains from prior depreciation write-offs are taxed at a 25 percent maximum federal rate.)
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.
Q: My company pays a flat 30 cents a mile rate for car expenses. Can I deduct the difference between my costs and 30 cents per mile? A.Z., Atlanta, Ga.
Many employees forget—or don't realize—that employer-provided benefits make up a big portion of their compensation.
Suppose you've been holding raw land that you bought years ago as an investment. Now you figure it's time to cash in on the building boom in your area.
After you retire and the paychecks stop, you'll probably need to depend on your investments for cash flow. If you have a mix of investments, inside and outside a tax-deferred retirement plan, know which to tap into first.
Limited liability companies (LLCs) have become the entity of choice for many businesses. That's largely because LLCs combine the S corporation benefits of flow-through taxation and limited liability along with partnership-type flexibility for distributions and ownership interests.
If you're required to file your payroll taxes electronically, don't quibble with the IRS, even if you're more comfortable walking a check to the bank.
The cost of gas continues to skyrocket in many parts of the country, reaching a record national average of $1.75 per gallon at the start of April. Most expensive state: California. Least expensive: Georgia and South Carolina.
If you're an owner/executive of a C corporation, it's time to sit down with your tax adviser to see if your compensation passes IRS muster.