Tax Central – Page 55 – Fiducial Blog

What is an IRS Penalty Abatement and Am I Eligible for One?

March 9, 2020

Several types of IRS penalties can be assessed against you. But the IRS can issue a penalty abatement if you think you’ve been wrongly penalized.

Using an S Corporation May Help Business Owners Reduce Tax

March 6, 2020

Is your business a sole proprietorship or an LLC? Are you paying both income tax and self-employment tax? You may cut your taxes by using an S corporation.

Does Your Tax ID Number (ITIN) Need to be Renewed?

March 4, 2020

According to the IRS, just about 2 million tax ID numbers (ITINS) will expire at the end of 2019. Need to renew your tax ID number? Learn how with Fiducial.

What Are My Chances of Being Audited and How Can I Reduce Them?

March 2, 2020

Your chances of being audited are pretty rare. Fewer than 1% of taxpayers will get that notice on IRS letterhead. Here are some tips to lower your chances.

Eldercare can be a Medical Tax Deduction

February 28, 2020

Many individuals are serving as care providers for loved ones, the cost of caring for them may be deductible as a medical expense.

Unexpected Tax Bill? Fiducial Budget Tips Can Help You Cover It

February 26, 2020

When you’re hit with a large, unexpected tax bill, it can be shattering. People who owe significant amounts of money have several options available to them.

Deducting the Costs of Modifications for Senior-Proofing a Home

February 19, 2020

If you are planning to make such home improvements, you may be wondering whether any of the costs will be tax-deductible.

Wayfair Revisited — It’s Time to Review Your Sales Tax Obligations

February 17, 2020

A state is constitutionally prohibited from taxing business activities unless those activities have a substantial “nexus,” or connection, with the state.