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Tax Records

How Long Should You Keep Old Tax Records?

This is a common question: How long must taxpayers keep copies of their income tax returns and supporting tax records? And Fiducial has your answer.
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payroll

Better Tax Break When Applying the Research Credit Against Payroll Taxes

Learn about how you may be eligible for a payroll tax credit election with little to no income tax liability.
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Saver's Credit

Saver's Credit Can Help You Save for Retirement

Low/moderate-income workers can take steps to save for retirement and earn a special tax credit. Read more about saver's credit.
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Ways to Deduct Health Insurance

Health insurance premiums have risen dramatically and are one of the largest expenses that most individuals pay. Learn what is treated as deductible health insurance.
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Accounting

What’s the Best Accounting Method Route for Business Tax Purposes?

Many businesses have a choice of using cash or accrual accounting for tax purposes. If you’re one of them, which route should you take? Here are the rules.
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tcja

Major Tax Sunset of TCJA Provisions on the Horizon

In late 2017, Congress passed the Tax Cuts & Jobs Act (TCJA) which made enormous changes to income tax laws. There is a major sunset of these provisions on the horizon.
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Tax Season

Cracking the Tax Code: Your Guide to Tax Jargon

The tax season is full of jargon. In this brief guide, we’ll give you the lowdown on some of the most important terms you should know during tax season.
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EIN

Does a Foreign Entity Need a U.S. Identification Number (EIN)?

It is mandatory for foreign entities that are conducting business in the United States to have an Employer Identification Number. Learn more on how to obtain an EIN.
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self-employment tax

Understanding Self-Employment Tax

Self-employment (SE) tax is a tax consisting of Social Security and Medicare taxes primarily for individuals who work for themselves. Read more to learn.
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8 Steps to Avoid Common Tax and Accounting Mistakes cover

8 Steps to Avoid Common Tax and Accounting Mistakes

Learn the eight common tax and accounting mistakes. As well as insights into why they occur and offering detailed strategies to prevent them.
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E-File Mandate - Reporting of Cash Payments Over $10,000 cover

E-File Mandate - Reporting of Cash Payments Over $10,000

Beginning Jan. 1, 2024, businesses are required to; e-file Form 8300, Report of Cash Payments Over $10,000, instead of filing a paper return.
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9 Tax Considerations If You Are Starting A Business As A Sole Proprietor cover

9 Tax Considerations If You Are Starting A Business As A Sole Proprietor

Many new ventures start out as sole proprietorships. Read about the nine tax considerations if you’re operating a business that way.
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Navigating the Tax Implications of Remote Work for SMBs: A Comprehensive Guide (copy) cover

Navigating the Tax Implications of Remote Work for SMBs: A Comprehensive Guide

Understanding the tax nexus associated with remote work is one of the most significant challenges for many business owners.
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Great News for Employers Who Received Questionable Employee Retention Credits cover

Great News for Employers Who Received Questionable Employee Retention Credits

The IRS has introduced a New Voluntary Disclosure Program that allows employers who received questionable ERC to pay them back at a discounted rate.
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Common IRS Audit Triggers for Small Businesses: How to Avoid Them cover

Common IRS Audit Triggers for Small Businesses: How to Avoid Them

understanding the common triggers for an IRS audit and taking proactive steps can significantly reduce the likelihood of facing one.
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The Risks and Dangers of Using a “Ghost” Preparer cover

The Risks and Dangers of Using a “Ghost” Preparer

As people begin to have their 2023 tax returns prepared, this is a reminder to avoid unethical “ghost” tax preparers.
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