Household Employee or Contractor? Fiducial Explains the Difference

Household Employee or Contractor? Fiducial Explains the Difference

The IRS requires employers to withhold taxes for employees and issue them W-2s. So, what is the difference between a household employee and a contractor?
Read more
Should You Deduct Your Business Start-Up Expenses?

Should You Deduct Your Business Start-Up Expenses?

Are you a new business owner? You may be helped by a tax provision allowing you to deduct start-up expenses and organizational costs.
Read more
Form W-2 or 1099-NEC? Employees vs. Independent Contractors

Form W-2 or 1099-NEC? Employees vs. Independent Contractors

You’ll need to decide whether to use a W-2 or a 1099-NEC to report each worker's wages. How you categorize the relationship between a worker and a business?
Read more

The Work Opportunity Tax Credit (WOTC) Explained

You may be able to claim a Work Opportunity Tax Credit (WOTC). This is an income tax credit, unlike pandemic-related credits on employment taxes.
Read more

EINs: Change Contact and Responsible Party Information in 60 Days

The IRS is reminding entities with EINs to update information. IRS regulations require EIN holders to update responsible party information within 60 days.
Read more

Considering Married Filing Separately Status? Better Read This.

Married taxpayers have 2 options when filing their 1040 or 1040-SR taxes. Fiducial has some of the issues related to filing as married filing separately.
Read more
Tax Strategizing Now May Be Wise as New Tax Proposals Loom

Tax Strategizing Now May Be Wise as New Tax Proposals Loom

Fiducial has a list of potential tax strategies that may benefit you. Every taxpayer’s situation is unique; not all of these strategies will apply to you.
Read more
Surviving a Business Audit with Audit Techniques Guides (ATGs)

Surviving a Business Audit with Audit Techniques Guides (ATGs)

To prepare for a business audit, the IRS researches the industry & issues on the taxpayer’s return. Examiners may use IRS “Audit Techniques Guides (ATGs).”
Read more