Tax Central – Page 37 – Fiducial Blog

Understanding Passive Activity Loss Rules and How They Affect You

June 9, 2021

What are passive activity loss rules and how do they affect you? Fiducial defines passive activities and explains the rules regarding associated losses.

Withdraw Cash from Your Closely Held Corporation at a Low Tax Cost

June 7, 2021

Owners of closely held corporations be interested in withdrawing cash from their businesses at a low tax cost. Here are some strategies Fiducial suggests.

Claiming the Business Energy Credit for Using Alternative Energy

June 4, 2021

Wondering whether alternative energy technologies can help your business manage energy costs? Check out the business energy credit.

You Should Be Keeping Home Improvement Records

May 31, 2021

The gain from a home’s sale can be substantially higher than the allowable exclusion. Home improvement records can be beneficial and save on taxes.

More Relief from Failure-to-Deposit Employment Tax Penalties

May 28, 2021

An employer would typically be penalized for failing to deposit federal employment tax. Examples include deposits of withheld income taxes and FICA taxes.

Tax Court Decision Holds Potential Impact for Travel Deductions

May 24, 2021

Many professions require extensive travel and time in paid lodging.Traditionally, taxpayers claim these as travel deductions. However, new rules are coming.

Tax Advantages of Hiring Your Child at Your Small Business

May 21, 2021

Did you know that you can save family income and payroll taxes by putting your child on the payroll? If you own a small business, read on!

Do You Owe Taxes and Can't Pay by the Due Date?

May 17, 2021

What do you do if you end up owing money on your taxes? The IRS encourages you to pay the full amount by imposin penalties and interest on late payments.