Tag Archives: Small Business Tax Deduction Strategies
Follow blueprint for disabled access credit for business
In some cases, your business is legally obligated to make the premises accessible to disabled individuals. Strategy: Build the "disabled access credit” into your plans. If you qualify, you can write off half the cost. What’s more, the ...
Steer around roadblocks to vehicle deductions
The tax law generally limits the annual amount you can deduct for depreciation of so-called “luxury cars.” Strategy: Buy a heavy-duty sports utility vehicle (SUV) for business use in 2012. If the vehicle meets certain requirements, you can ...
IRS reveals list of ‘dirty dozen’ tax scams
The IRS has released its annual list of “dirty dozen” tax scams. (IRS News Release 2012-23) The list for 2012 contains few surprises. Nevertheless, taxpayers should remain vigilant. Here’s a quick rundown.
Key consideration for Roth 401(k) plans
Q. I’m considering a Roth 401(k) for my company. Do employees have to take RMDs?
Fight the ‘war of independence’ with IRS
Small business owners often clash with the IRS over the classification of workers. Usually, the employers claim certain workers are independent contractors; the IRS says they’re employees. If you’re challenged by the IRS, don’t throw up the white flag ...
- Centerpiece | Small Business Tax | Small Business Tax Deduction Strategies
- Comments Off
- Tweet This !
Sell securities to harvest capital gains
Normally, investors look to “harvest” capital losses when the stock market has climbed, to offset any capital gains they’ve recently realized. But this tax year is far from normal, so you might do the opposite of the ...
Will a grandfather rule help this grandpa?
Q. If I give $1 million to my grandkids this year, will I have any estate tax exemption left next year?
Seize small business health credit
The U.S. Supreme Court is hearing arguments about the constitutionality of the massive health care law. Most of the provisions in the new law won’t kick in until 2013 or 2014. Small business owners don’t have to wait. If you ...
Uncle Sam encourages annuity options
The federal government wants to give retirement plan participants more incentive to invest in annuities. In a new package of proposed regulations and rulings, the IRS and Treasury are reducing the administrative burdens for partial annuities by simplifying ...
Lessons from the Tax Court: Homebuyer credit lockout
The IRS is targeting “first-time homebuyer credits” erroneously claimed by taxpayers. To qualify for the version of the credit in question in the following case, you must have stopped using an old home as your principal residence ...