Small Business Tax
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.
Using the home-sale exclusion.
Paying kiddie tax on a grandchild's mutual funds
Home-office deductions may undergo a makeover in the near future.
Tip reporting can be a problem for employers such as restaurants and bars.
Suppose your company bought a building many years ago for $1 million and has depreciated it down to zero. The building and the land it sits on are currently worth $2 million. You want to expand your product line, but you need some cash to do it.
Cutting down on business driving
Don’t pay alimony before the first date required under a divorce decree.
Beware: The IRS has targeted small business owners and self-employeds for audits over the next few years. In fact, the effort is already under way, and you may be one of those singled out for the sting of an investigation.
One provision in the new Pension Protection Act of 2006 could prove a godsend for certain charity-minded taxpayers with plenty of IRA funds at their disposal.
Normally, you can’t deduct amounts spent on clothes you wear to work. So, if you buy a smart new suit or outfit for the office or an important business meeting, you reap no tax benefit from the outlay.