tax changes – Fiducial Blog

Take Advantage of the Rehabilitation Tax Credit

May 24, 2023

Does your business occupy substantial space and need to increase or move from that space? You should keep the rehabilitation tax credit in mind.

Looking for Quick Cash? Try to Avoid Retirement Early Withdrawals

May 15, 2023

Are You looking for quick cash? Your retirement savings may look tempting. However, early withdrawals can mean paying income tax and a 10% early-distribution tax.

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?

Home Energy Improvement Credit Is Enhanced

March 31, 2023

This tax benefit should have expired after 2021. However, a law change gave the home energy improvement credit renewed life and enhanced it beginning 2023.

The Tax Filing Deadline Is Drawing Near

March 29, 2023

Filed your 2022 tax returns? April 18 is the tax-filing deadline. Make sure to file your return or file for an automatic extension by this date.

Changes in Section 174 Mean You Should Review Your R&E Strategy

March 24, 2023

Several provisions in the TCJA have expired or will expire in the next few years. Last year was the end of current deductibility for R&E expenses.