For Business – Page 36 – Fiducial Blog

Meticulous Records Are Key to Tax Deductions and Painless IRS Audits

February 9, 2022

All businesses need to keep records of income and expenses. Carefully record expenses in order to claim all of the tax deductions to which you’re entitled.

Numerous Tax Limits Affecting Businesses Have Increased for 2022

February 7, 2022

Many tax limits that affect businesses are annually indexed for inflation. Fiducial has a rundown of those that may be important to you and your business.

Reporting Requirement for Cryptocurrency Added by Infrastructure Bill

January 31, 2022

The IRS has been engaged in a virtual currency compliance campaign for 3 years. The campaign addresses tax noncompliance related to cryptocurrency use.

How to Defer Tax with a Like-Kind Exchange

January 28, 2022

One way to defer a tax bill on the gain is with a Section 1031 “like-kind” exchange. A like-kind exchange doesn't sell the property, it exchanges it.

Cost Segregation Study: Get Your Piece of the Depreciation Pie Now

January 26, 2022

Is your business depreciating over a 30-year period the cost of constructing the building housing your operation? Then consider a cost segregation study.

Outsourcing could relieve pressure in a tight labor market

January 24, 2022

Many kinds of employers are struggling to find and hire qualified job candidates. Outsourcing certain job functions could offer temporary or even long-term relief.

Businesses with Employees Receiving Tips May Be Eligible for Tax Credit

January 21, 2022

Are you an employer with a business where tipping is customary for providing food and beverages? Then you may qualify for a federal tax credit.

IRS Issue Snapshot: Combination Retirement Plan Deduction Limits

January 19, 2022

What is a combination retirement plan? It occurs when an employer provides both a defined contribution (DC) and defined benefit (DB) retirement plan.