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.
Q: My business shares a warehouse with
other tenants.We have five years remaining on our lease, but the
building has 14 years left to be fully depreciated. If I expand my part
of the building, do I depreciate the cost over 14 years instead of
five? B.B., Cleveland
I’m starting an Internet-based business with my brother. Since our state of incorporation can be virtually anywhere, should we incorporate in Delaware as our home state for income tax purposes? D.J., Boulder, Colo.
I’ve lost money in the stock market this year, so I expect to owe less tax than I did in ’05. Can I decrease the tax withholding at my job to make up some of the difference? J.G., Tuckerton, N.J.
My business shares a warehouse with other tenants. We have five years remaining on our lease, but the building has 14 years left to be fully depreciated. If I expand my part of the building, do I depreciate the cost over 14 years instead of five? B.B., Cleveland
I plan to leave my organs to be used for research at a hospital. Can I deduct this gift as a current charitable donation or, at the very least, a gift at death? P.P., San Antonio
Want to change your accounting method or need an IRS ruling about your employee retirement plan?
If the 100 percent federal employment tax penalty doesn’t strike fear in the hearts of small business owners, it
If you travel extensively on business, you know the drill: Airlines
may offer lower rates if you stay over a Saturday night. The discount
is usually worth it if you’re wrapping up business on Friday.
When traveling internationally on business, a few simple itinerary changes can help you save big on taxes
Does your company need a quick cash transfusion to keep operating on all cylinders? That could be a problem if the company owes you money for a prior debt.