Tax Central – Page 12 – Fiducial Blog

Is an LLC the Right Choice for Your Small Business?

May 3, 2023

Is your small business a sole proprietorship? Do you want to form an LLC? Learn the basic information and tax perks you need to know to operate an LLC.

Should You Be Keeping Home Improvement Records?

April 28, 2023

Many taxpayers don’t keep home improvement records. However, records are important if you want to take advantage of the tax code’s exclusion for home gains.

Vacation Home Rentals and Income Tax: What You Need to Know

April 26, 2023

Have questions about rental income tax for a part-time vacation home rentals? The applicable rental rules include some twists that you should know about.

Potential Tax Advantages of Hiring Your Child This Summer

April 24, 2023

Thinking about hiring your high school or college-age child to work in your business? You could reap significant tax benefits.

You Can Now Receive a Tax Credit for Buying a Used Electric Vehicle

April 19, 2023

This is the first time used electric vehicles have qualified for a tax credit. This provides an incentive for taxpayers to acquire an electric vehicle.

Roundup of Individual Tax Changes For 2023

April 17, 2023

Two recent pieces of tax legislation have created several tax changes for 2023. The legislation includes the Inflation Reduction Act and the Secure 2.0 Act.

Protect the “Ordinary and Necessary” Advertising Expenses of Your Business

April 14, 2023

How does a business know if advertising and marketing expenses are deemed “ordinary and necessary” to qualify as deductible on their tax return?

Important Considerations When Engaging in a Like-Kind Exchange

April 12, 2023

How can a business or individual dispose of appreciated real property without taxation on the gain? You can do this through a like-kind exchange.