Property Transactions and Tax Avoidance
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After reviewing the scenario, ascertain at least three (3) business tax credits that business owners often overlook. Briefly outline a communication plan that the IRS can utilize to communicate such tax credit information to business owners. Provide support for your recommendation. From e-activity, identify at least three (3) general business tax credits, and describe at least two (2) conditions that could cause a recapture of a general business tax credit. Recommend at least two (2) tax-planning strategies for avoiding or reducing the recapture potential. Provide specific examples of such strategies. Week 8 e-Activity Go to the IRS Website and review “Publication 334, Tax Guide for Small Business”, located at http://www.irs.gov/uac/Publication-334,-Tax-Guide-for-Small-Business-(For-Individuals-Who-Use-Schedule-C-or-C-EZ). Be prepared to discuss.
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