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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Q. If we move a business lunch from a country club to a restaurant, can our business deduct the full cost?
Here are 13 key breaks for individuals and small business owners that expired after 2013.
Due to tax preparation software programs, it’s much easier to fill out a federal income tax return now than it was years ago, when you struggled through the process with a No. 2 pencil. But you still have some work cut out for you. Here are six ways you might be able to turn a potential tax liability into a tax refund.
Q. I converted part of an IRA to a Roth in 2013. Is the conversion income subject to the new Medi­­care surtax? J.S.L., Boise, Idaho
If you’re short on cash to fund an IRA contribution this year, Uncle Sam may effectively lend you the money. Strategy: Use your federal income tax refund to fund an IRA contribution.

HR Law 101: The IRS has the burden of proof when it interrogates an employer about its worker classifications. Before the Small Business Job Protection Act of 1996, the onus was on the employer to prove that an individual didn't qualify as an employee ...

New proposed regulations would settle a tax controversy involving the treatment of amortizable partnership start-up costs after a “technical termination” of the partnership.
Introduce your offspring to the retirement saver’s credit. This underpublicized tax break can provide a big boost for lower-income wage-earners.
Even with the generous $5 million estate tax exemption under current law (indexed to $5.25 million for 2013 and $5.34 million for 2014), some heirs will still be walloped by the federal estate tax. When the tax applies, the rate is a flat 40%. Strategy: Use the installment method for paying estate tax.
Suppose that a family member has to move into an assisted living facility (ALF). Al­­though nursing expenses are generally deductible as medical expenses, the lines can get blurred.
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