Are you sure that your tax return preparer really has the credentials that he or she claims to have? The IRS is checking up on those who profess to be attorneys, certified public accountants or enrolled agents. Why?
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. We couldn’t afford to pay a company officer while we worked on a project. Now that we’re paying him in 2013, can we call it a loan? R.B.T., San Mateo, Calif.
If your small business owes federal payroll taxes to the IRS and you’re still under the gun, don’t despair. The IRS doesn’t want you to shoot yourself in the foot.
Q: What happens tax-wise when I trade in one business car for another? Do I have to pay the IRS any tax on the value negotiated with the dealer?
The IRS recently announced the standard mileage rates used to deduct driving costs for business, medical, moving and charitable purposes. Here's the standard mileage rate for the use of a vehicle, including cars, vans, pickups and panel trucks, beginning Jan. 1, 2013.
William Shakespeare said, “neither a borrower nor a lender be.” But sometimes it can’t be helped. Strategy: Tap into your IRA if all else fails. Admittedly, the IRS isn’t wild about the idea, but you’re in the clear as long as you meet the technical requirements under the law.