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

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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.

Absent any significant changes, the basic year-end tax-planning principles still apply in 2017. Strategy: When practical, accelerate deductions into 2017 to offset current tax liability.
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.
Are you planning to renovate an older building in a historic area? Before you start tearing down walls and destroying the fabric of the property, check to see if you’ll qualify for a unique tax break.
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.
Pulling off a like-kind exchange under Section 1031 is often easier said than done. Usually, the owner of property you have your eyes on isn’t interested in any property you own.
Are you having trouble collecting money for goods or services your business has provided? Consider these three strategies for securing bad-debt deductions.
Keep detailed records if your personal (nonbusiness) property is damaged or destroyed. Although it is small solace, you may be able to claim a casualty loss deduction on your 2017 tax return.
A new decision made in favor of a hallowed professional hockey team may lead to tax breaks for employers of all stripes.
As summer winds down, you may decide to host an outdoor party at your home, including business clients and friends. Depending on the situation, you may be able to write off a larger share of the home entertainment cost.
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