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.

Instead of discarding old items, you might try to sell them on eBay or similar Web sites. Do you face any tax consequences with these types of sales? Maybe.

The IRS has issued final regulations and related guidance governing the disclosure of tax return information by paid tax preparers. They officially take effect for disclosures and the use of return information after Dec. 31, 2008.

Q. I want to consolidate my IRAs in one place. Can I roll over a few IRAs and the retirement plans of previous employers to a Fidelity account this year?

Two Brooklyn grocers have been charged with underpaying workers by more than $300,000 and falsifying business records. Bienvenido Nuñez, president of the Associated Supermarket in Bushwick, and Martin Duran, vice president, allegedly paid no wages to baggers, who worked for tips ...

Senate Bill 334, which became Ohio law in October, eliminated a significant financial burden for roughly 40,000 Ohio employers that were paying workers’ compensation premiums twice to cover out-of-state workers.

The federal “bailout law” extends a variety of tax breaks that had expired after 2007. Generally, the extensions continue through 2009. Here’s how you can take advantage of the tax goodies under the tree this year.

If their mortgage is paid off — or close to it — your parents can’t squeeze much tax juice from their home other than property-tax deductions. Strategy: Consider buying your parents’ home, then lease it back to them at the going rate. That way, they can tap into the built-up home equity without moving away.

During this term, the U.S. Supreme Court will consider employment cases concerning arbitration, pregnancy discrimination, protected activity and union fee use.

Often it makes sense to tie part of your fortune to the company’s, particularly if you’re an owner or one of the main cogs in the machine. Strategy: When you’re ready to retire, keep the payout in the form of company stock. Don’t convert it to cash ...

 

Now that President-elect Obama’s administration is taking shape, what can taxpayers expect in the next year? Here are a few key proposals made by Obama late in his campaign.