Tax Central – Fiducial Blog

Home Energy Improvement Credit Is Enhanced

March 31, 2023

This tax benefit should have expired after 2021. However, a law change gave the home energy improvement credit renewed life and enhanced it beginning 2023.

The Tax Filing Deadline Is Drawing Near

March 29, 2023

Filed your 2022 tax returns? April 18 is the tax-filing deadline. Make sure to file your return or file for an automatic extension by this date.

S Corp Stockholders Must Take Reasonable Compensation

March 27, 2023

S corporation compensation is often misunderstood and abused. If stockholders work in the business, they must take reasonable compensation as wages.

Changes in Section 174 Mean You Should Review Your R&E Strategy

March 24, 2023

Several provisions in the TCJA have expired or will expire in the next few years. Last year was the end of current deductibility for R&E expenses.

Many Taxpayers Could See Smaller Tax Refunds This Year

March 22, 2023

COVID pandemic-related benefits have come to an end. These decreases in federal tax benefits will mean smaller 2022 tax refunds for taxpayers..

Who Claims the Children’s Tax Benefits - You or Your Ex-Spouse?

March 20, 2023

Tax law has specific, complicated rules about who profits from child-related tax benefits. Children’s tax benefits are numerous. Read on for more info!

Gig Work Can Have Tax Consequences You Never Considered

March 17, 2023

Gig work brings a newfound sense of freedom but also a number of potential disadvantages. This will become especially apparent when it comes to tax season.

Buying a New Business Vehicle? A Heavy SUV Is a Tax-Smart Choice

March 13, 2023

Buying or replacing a vehicle that you’ll use in your business? A heavy SUV may provide a more generous tax break this year than a smaller vehicle.