by Susan Caminiti. When it comes to issues that perplex and confuse small business owners, few items rank higher than taxes. To get a better understanding of what entrepreneurs need to know this tax season—and what changes lie ahead—Susan Caminiti spoke with Chris Walters, senior manager of tax and budget issues at the National Federation of Independent Business (NFIB), the leading small business association representing small and independent firms across the country. Some excerpts from the...

What Small Business Can Learn from Big Business Tax Strategies. by Jen Hickey. If you’re a small business, chances are you don’t have access to a team of accountants and lawyers to find savings in the tax code. But as it turns out, you don’t need to. Almost every expense is tax deductible if you’re a small business. And recent legislation has dramatically increased the thresholds for certain deductions dramatically for tax years 2010 through 2012. Travel and entertainment expensesSmall...

by Reed Richardson. Tax law changes that get overlooked the year they first take effect often end up costing a small business not only money but strategic opportunities as well. To avoid this fate and keep your cash flow robust, it’s a good idea to brush up on the already approved tax law changes for 2011 going forward. So here’s a rundown of the new tax provisions and how they could affect you in the coming year. Section 179 Expensing and Bonus Depreciation: For 2011, the increased...

These 15 important modifications could significantly lower your tax burden By Reed Richardson Spurred on by the federal government's economic recovery efforts, there have been numerous changes to the federal tax law for 2009 and 2010. Here's what your small business needs to know now to take advantage of this year's expiring rules and what it needs to keep in mind for next year. 2009 1. Section 179 Expensing: For 2009, one of the most important changes involves the extension, for...