For Business – Page 36 – Fiducial Blog

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.

Does Your Business Need to File Forms 1099-NEC or 1099-MISC?

January 17, 2022

Do you use independent contractors for your business? Have you paid $600+ to each one for the year? You must issue the worker and the IRS a Form 1099-NEC.

Retroactive Termination of the Employee Retention Credit

January 14, 2022

Did you claim the employee retention credit in the Q4 2021? Congress has adopted a retroactive change affecting the ERC for the Q4 2021.