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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.

“Our People Are Our Greatest Assets.” It’s been one of the business world’s favorite clichés for decades. For just as long, it’s prompted eye rolling from the greatest assets themselves. Now a provocative BusinessWeek article takes HR to task for allowing talking the talk to stand in for walking the walk. Do any of these accusations sound familiar?
Q. I read your article on reasonable compensation with interest (12/26/05 issue). I thought there was a maximum amount that any employee, other than a CEO or company president, could be paid. Is that true? E.M., Seattle

If you don’t pay enough tax during the year—including payroll withholding and quarterly installments—you could be assessed an “estimated tax” interest rate penalty for the underpayment. Strategy: Make sure you qualify for one of the tax law “safe harbors.” You have three options ...

Now that your child has graduated from college, you want him or her to start off on the right foot. Maybe your child needs seed money for a business venture or a new car for a long-distance commute.
Twenty Minnesota employers, including Target and the University of Minnesota, aim to convince more employees to contribute to their retirement savings plans and use direct deposit for their pay, as part of the employer-organized Financially Fit Minnesota program ...
The IRS has issued a strict warning to employers misusing per-diem reimbursements: Starting Jan. 1, it no longer will tolerate any employer’s travel-reimbursement plans that pay more than the federal perdiem rates without proper substantiation.
You or your spouse may have stayed home raising the kids while the other spouse worked full time. Now the stay-at-home parent may want to brush up on business skills before re-entering the workforce.
The IRS is rarely lenient when it comes to unpaid employment taxes that are withheld from employee paychecks. If you are found to be a responsible party, you could be held personally liable for 100% of the amount owed for a willful failure to deposit such withheld employment taxes on time. And you don’t necessarily have to be the person assigned to do the job.
Are you buying a new car or renewing your registration for an old one? If you pay an extra fee for a license plate promoting a charitable cause, you may be entitled to a charitable tax deduction.
As part of the performance-review process, supervisors are typically called upon to evaluate employees on the basis of intangible factors, such as cooperativeness, dependability and judgment. The higher up the organizational chart, the more important those traits become. Yet most supervisors find intangibles the most difficult factors to evaluate, probably because they seem so personal. [...]