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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Taking dependency exemptions for young children is usually a piece of cake. But things can get dicey when you’re claiming write-offs for the older generation.

Usually, you have to be traveling “away from home” on business to deduct lodging expenses. But that’s not always the case. The IRS has issued new final regulations allowing deductions for certain local lodging expenses.

Are you upgrading your computer soon? Don’t simply toss the old one in the trash when it no longer meets your needs.
Q. Does the new 3.8% surtax apply to the kiddie tax on a 2014 return?
Has your small business finally made it “big”? You might be able to buy that boat you’ve always dreamed about. But while you’re enjoying the trappings of your success, there’s no direct tax benefit for your business. The tax law essentially prohibits business deductions for so-called “entertainment facilities.”
The media has vilified the alternative minimum tax for sneaking up on unsuspecting individual taxpayers. But there’s a similar tax evil for business entities lurking in the weeds.
Q. If I sell my house where I’ve used a home office for my self-employed business, is there a tax penalty?
The U.S. Supreme Court has agreed to hear a case challenging the availability of premium tax credits provided to individuals under the Patient Protection and Affordable Care Act.
In lieu of deducting actual business auto expenses, you can deduct a flat rate of 57.5 cents per business mile, up from 56 cents in 2014, plus parking and tolls.
Q. Can our business claim a fast tax deduction for computer software placed in service in 2014?
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