Small Business Tax Strategies — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Page 222
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Small Business Tax Strategies

When you reach a certain point in
life, you’re generally entitled to receive Social Security retirement
benefits. Congratulations; you earned it. But it’s not as simple as
cashing a check each month. If you don’t stay on top of things, you’ll
have to give some of that money back to the government in taxes.

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Tax law takes a two-tiered approach with Social Security benefits. Here’s how it works.

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Taxes may be the last thing on your mind when you’re bogged down in a messy legal battle. But errors in the way you draft a settlement agreement could mean thousands of dollars going to Uncle Sam instead of into your pocket.

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Due to extenuating circumstances, you may not qualify for the giant home-sale gain exclusion when you sell your principal residence. But if you can’t get the whole loaf of bread, at least grab a slice of it.

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Combined income from marriage can stop you from converting a Roth IRA

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IRS officials have secured a third-party summons to identify users of PayPal because they think the popular Internet transaction service is being used to evade taxes by stashing cash in overseas accounts.

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If you qualify under special income limits, you can defray some college costs with an education tax credit. But it’s not only how much you pay that counts, it’s also when you pay it.

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Is it worthwhile to earn money while you’re receiving Social Security benefits?

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How do you figure the amount available for a partial exclusion? Multiply the available exclusion by the appropriate ratio.

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Writing off car damages from a trip acting as director on the board for a charity.

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