Beware: These Tax Return Red Flags Could Trigger an Audit by the IRS

Beware: These Tax Return Red Flags Could Trigger an Audit by the IRS

Taxpayers can avoid audits if they know the specific red flags that trigger them. Fiducial can help! Here's our list of red flags that lead to an audit!
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4 Questions Business Owners Should Consider for Their 2020 Taxes

4 Questions Business Owners Should Consider for Their 2020 Taxes

If 2020 wasn’t challenging enough, this season’s tax-filing is even more complicated than usual. Here are 4 questions you should ask about 2020's taxes.
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The Importance of S Corporation Basis and Distribution Elections

The Importance of S Corporation Basis and Distribution Elections

An S corporation can provide tax advantages over a C corporation in certain circumstances. Do you expect the business will incur losses in its early years?
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The Cents-Per-Mile Rate for Business Miles Decreases Again for 2021

The Cents-Per-Mile Rate for Business Miles Decreases Again for 2021

You might claim a lower deduction for vehicle-related expenses for 2021. This is the second year in a row that the cents-per-mile rate has decreased.
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How Biden's American Rescue Plan Might Impact Your Taxes

How Biden's American Rescue Plan Might Impact Your Taxes

President Biden released his “American Rescue Plan” on January 14. It is a wish list of proposals to address the COVID-19 pandemic and economic crisis.
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Updated Guidance on the Employee Payroll Tax Deferral

In late January, the IRS updated Notice 2020-65. The update reflects the changed tax deferral rules contained in the Consolidated Appropriations Act (CAA).
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What You Need to Know about Taxes on Partners and Partnerships

What You Need to Know about Taxes on Partners and Partnerships

Taxation of partners and partnerships can stump you. In a given year, you may pay taxes on more partnership income than you received from the partnership.
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New year 2021 list. Office desk table with notebooks and pencil with copy space.

IRS Issues Final Regs on ICHRAs. Here’s What You Need to Know

The IRS has issued final regs that clarify the application of employer shared responsibility provisions under the ACA. The regs also address ICHRAs.
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