Do you notice anything different on your 1099-Bs this year? For the first time, securities brokers must provide cost basis information for “covered securities.” Use new Form 8949, Sales and Other Dispositions of Capital Assets, to report your securities transactions from 2011.
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.
You can save hundreds or even thousands of dollars through certain “tax elections” on the 2011 return you file by April 17. These choices often involve tax return comparisons. What sort of elections are we talking about? Here are five prime examples.
Sooner or later, the alternative minimum tax (AMT) is probably going to get you. Strategy: Do your best to dodge this “stealth tax.” At the very least, you may be able to reduce your AMT liability for 2012 with some advance planning.
The cost of practically everything keeps going up, but not the amount of tax-free transportation benefits for employees. Because Congress failed to extend a group of tax breaks beyond 2011, certain tax-free benefits have been virtually cut in half. Here’s a recap of the transportation fringe benefits that are currently available.