There are an abundant number of provisions that provide tax relief to small businesses this year. Just so you don’t overlook any of these benefits, or in case your business would like to position itself to take advantage of some before the close of the year, here is a brief rundown on many of the business benefits that are available for 2011.
Small-business owners have excellent opportunities to save for retirement, often with tax benefits for the business. Read more in this week’s Tax Tip.
Businesses with qualified production activities can take advantage of the Domestic Production Deduction on their taxes. Read this Tax Tip for more.
You sold your tomatoes at the farmer’s market, but is your garden considered a business or a hobby? It’s complicated. Read this week’s Tax Tip for more.
If you are an eligible small employer or a tax-exempt eligible small employer, you may qualify for the small employer health insurance premium credit.
Small-business owners: Your accounting method affects your ability to write off receivables that cannot be collected. Read this Tax Tip to find out how.
The Internal Revenue Code rewards businesses for pursuing innovation by continually increasing investment. Learn how in this Tax Tip.
Are you missing out on tax perks related to your business travel? Food and lodging expenses may be deducted when you are away from home for business purposes. Like everything in the tax law, to be tax deductible, certain rules must be followed. Individuals who know the rules and keep good records derive the most from these deductions.
The "Money Talks" hosts discuss what $5,000 invested now could grow to in 50 years.
There is one tax loophole on the books that is large enough to drive a truck through…literally. Due to a provision in the new 2010 Tax Relief Act, you can write off most or all the entire cost of a heavy-duty SUV placed in service this year—without the usual restrictions. But you should move fast if you are in the market for a new business vehicle. Congress may soon undo the unexpected windfall created by the new tax law.
