Taxes and Coronavirus: Frequently Asked Questions (FAQ)

Taxes and Coronavirus: Frequently Asked Questions (FAQ)

The COVID-19 outbreak is affecting our lives – including our taxes.Fiducial has the answers to your FAQs about how you may be impacted.
Families First Coronavirus Response Act: What Employers Need to Know

Families First Coronavirus Response Act: What Employers Need to Know

The Families First Coronavirus Response Act may make drastic actions by employers unnecessary. Fiducial explains the details of what the Act covers.
IRA Contribution Age Restriction Removed By Congress

IRA Contribution Age Restriction Removed By Congress

Effective for tax years beginning in 2020, for individuals who otherwise qualify, Congress has removed the IRA contribution age restriction.
Qualified Charitable Distribution (QCD) Provision Gets a New Twist

Qualified Charitable Distribution (QCD) Provision Gets a New Twist

Those age 70½ + can transfer up to $100,000 annually from IRAs to qualified charities. This transfer are called a qualified charitable distribution (QCD).
Why Basis Is So Important in Determining Valuation at Tax Time

Why Basis Is So Important in Determining Valuation at Tax Time

Basis is used to calculate depreciation, casualties, and depletion, as well as gains or losses on disposition of an asset.
Is that IRS Letter a Tax Scam or Something You Need to Address?

Is that IRS Letter a Tax Scam or Something You Need to Address?

You need to decide whether the IRS letter you received is a scam or something you need to address. Fiducial wants you to consider some tips and information.
Did You Pay Tax on Home Mortgage Debt Relief in 2018?

Did You Pay Tax on Home Mortgage Debt Relief in 2018?

Congress has retroactively extended home mortgage debt relief. If you paid tax on forgiven home acquisition debt income in 2018, your return can be amended.
Hobby or Business? It Makes a Difference for Taxes.

Hobby or Business? It Makes a Difference for Taxes.

For-profit and not-for-profit business (hobby) ventures have different tax rules that can be confusing. Recent tax law changes have added to this.