• LinkedIn
  • YouTube
  • Twitter
  • Facebook
  • Google+

Small Business Tax Strategies

Wage base bump … Get transcripts via phone or mail … Gift tax exclusion is increasing … New ’18 plan limits … Check per diem rates

{ 0 comments }

Do your business premises need a few minor repairs here or there? Strategy: Complete the repairs before the end of the year. The cost of the repairs is currently deductible, so you can still offset your company’s 2017 tax bill.

{ 0 comments }

If you’re looking to sell real estate, you may have to structure the deal to make it acceptable to the buyer. But this could work to your tax advantage.

{ 0 comments }

Reconverting a Roth … Deducting home office expenses for a part-time job … Income averaging for 401(k) distributions … Too late for a 529?

{ 0 comments }

In a new case, the Tax Court wouldn’t allow the parents of a precocious beauty pageant winner to deduct expenses attributable to their child, even though they were the ones paying the tab.

{ 0 comments }

Believe it or not, even your teenagers can benefit from tax-saving retirement plans.

{ 0 comments }

By making smart moves at the end of the year, you might save your business thousands of tax dollars. Here are seven tax strategies that may work out for your situation.

{ 1 comment }

Are you planning to get married in the near future? Of course, the decision about when to tie the knot should not revolve solely around taxes, but it may be a consideration.

{ 0 comments }

Donate leave to hurricane victims … The gift-tax exclusion is increasing … Settlement amounts for emotional distress are taxable … Beware fake charities … State amnesty programs

{ 0 comments }

{ 0 comments }

Frequently, gambling loss deductions are denied because taxpayers fail to keep the records required for write-offs. In a pinch, you might resort to the “Cohan rule” allowing an estimated loss to be deductible, but you must convince the court that you actually sustained deductible losses.

{ 0 comments }

Citing rising costs, the Treasury Department has announced that it is shutting down the myRA program. Participants will be receiving instructions on how to wrap things up.

{ 0 comments }

Areader recently wrote us about a tax dilemma. “We bought U.S. Savings Bonds for my daughter when she was born and she also received Series EE Bonds as gifts. Now that she is entering her freshman year at college, we want to use the bonds to pay for tuition. Should she cash in all the bonds this year? And if she does, is all the interest tax exempt if the money is used to pay for college? Please help us out.”

{ 0 comments }

There are certain tax advantages to operating your business as a pass-through entity like a partnership, an LLC treated as a partnership for tax purposes, or an S corporation. Notably, you escape the double taxation threat that C corporations face.

{ 0 comments }

The new tax law preserves a major tax credit for building renovations, but with certain modifications.

{ 1 comment }

If you’re like many other small business owners, you may wait until the end of the year to buy property like equipment and computers. Don’t fall into a depreciation tax trap for property placed in service in the last quarter of the year.

{ 0 comments }

Good news and bad news about ID theft … A new way to contact the IRS … Shoddy craftsmanship in this rent deal … Renew your ITIN … How much was the King of Pop worth?

{ 0 comments }

Create your own business space … Does employer owe extra payroll tax? … Capital losses in years gone by … Ins and outs of dependency exemption

{ 0 comments }

If someone “blows the whistle” on a tax cheat, the IRS may reward the informant. Currently, the whistleblower award must equal at least 15%, but no more than 30%, of the amount collected in the investigation.

{ 0 comments }

The generous federal estate tax exemption—$5.49 million in 2017—can shield most estates from the federal estate tax, but some wealthy individuals need extra protection, especially if they own a lavish home.

{ 0 comments }

Page 5 of 149« First...34567...102030...Last »