If you acquire a company, your to-do list will be long, which means you can't devote all of your time to the deal's potential tax implications. However, if you neglect tax issues during the negotiation process, the negative consequences can be serious. To improve the odds of a successful acquisition, it's important to devote resources to tax planning before your deal closes.
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Many people dream of making money pursuing a favorite hobby. By starting a sideline business, you could be eligible for a treasure chest of tax deductions.
Unemployment tax rates for employers vary from state to state. Your unemployment tax bill may be influenced by the number of former employees who've filed unemployment claims with the state, your current number of employees and your business's age.
Get the most from Social Security. Younger retirees face a harsh penalty for working part-time. For every $2 earned over $16,920 in 2017 (up from $15,720 in 2016), you lose $1 in Social Security benefits. In the year you reach full retirement age, a higher earnings threshold applies.
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If you own commervial property, you're probably depreciating it over 39 years. That means that every year, you deduct 1/39th of the property's value (excluding land) from your taxes. Depending on the value of your property, you could generate a million dollars or more in depreciation deductions over the 39 years.
In business, and in life, among the most important ways to manage risk is through insurance. For certain types of companies -- particularly start-ups and small businesses -- one major threat is the sudden loss of an owner or hard-to-replace employee.
Providing a strong package of benefits is a competitive imperative in today's business world. Like many employers, you've probably worked hard to put together a solid menu of offerings to your staff.