Tax Central – Page 41 – Fiducial Blog

Beware: These Tax Return Red Flags Could Trigger an Audit by the IRS

March 5, 2021

Taxpayers can avoid audits if they know the specific red flags that trigger them. Fiducial can help! Here's our list of red flags that lead to an audit!

Charitable Contributions Deduction Liberalized for 2021

March 3, 2021

To stimulate charitable contributions during the pandemic, Congress made two notable changes for 2020. Fiducial has more info on this potential deduction!

4 Questions Business Owners Should Consider for Their 2020 Taxes

March 1, 2021

If 2020 wasn’t challenging enough, this season’s tax-filing is even more complicated than usual. Here are 4 questions you should ask about 2020's taxes.

How to Address Rising Tax Problems During COVID-19

February 26, 2021

The COVID-19 pandemic will have tax implications many have not considered. This may mean paying additional income taxes that they had not planned.

What Happens if I Receive an IRS CP2000 Notice?

February 24, 2021

There are few things that can send a chill down your spine more than mail from the IRS. If you open the mail to find a CP2000 notice inside, don’t panic.

The Importance of S Corporation Basis and Distribution Elections

February 22, 2021

An S corporation can provide tax advantages over a C corporation in certain circumstances. Do you expect the business will incur losses in its early years?

Sold or Thinking of Selling Your Home? Here’s What You Need to Know

February 17, 2021

With the housing market booming, have you sold or are you thinking of selling your home? Fiducial has a list of tax-related issues to consider.

The Cents-Per-Mile Rate for Business Miles Decreases Again for 2021

February 15, 2021

You might claim a lower deduction for vehicle-related expenses for 2021. This is the second year in a row that the cents-per-mile rate has decreased.