News – Page 8 – Fiducial Blog

You Can Expense Business IT Equipment Purchases

May 18, 2022

Businesses can now expense (write off as a deduction) IT equipment. However, it must be purchased and placed in service before the end of the year.

The 2022 IRS Interest Rate Hike Went Live April 1st

April 13, 2022

Are you required to pay quarterly estimated income tax? Then, a recent interest rate hike imposed by the IRS may directly impact on you.

Good News! Fully Deduct Business Meals in 2021 and 2022

April 8, 2022

The federal government is picking up the tab for certain business meals. The usual deduction for 50% of the cost of these meals doubled in 2022 (and 2021).

Fiducial’s Guide to Forming a Joint Venture: What You Need to Know

April 4, 2022

Before agreeing to a joint venture, business owners must assess how to proceed. They must consider all aspects of the new organization's operations.

Got a Side Hustle? The IRS is Cracking Down with Form 1099-K

April 1, 2022

Got a Side Hustle? The IRS is cracking down with Form 1099-K. The ARPA of 2021 included a provision to reduce the reporting threshold to $600.

Do Tax Deductions and Tax Credits Result in the Same Tax Benefit?

March 28, 2022

Tax lingo can be confusing. Often taxpayers confuse the terms “tax deductions” and “tax credits.” Fiducial explains these terms for you below.

Agencies Clarify Plan Coverage of COVID-19 Tests

March 9, 2022

On February 4, several government agencies issued additional FAQs re: COVID-19 tests. Specifically, how goup health plans must cover OTC COVID-19 tests.

What’s Next for the Child Tax Credit? Families Want to Know

March 7, 2022

December 15th marked the last deposit for the child tax credit payment under the ARP. Many families have been left waiting and wondering what's next.