Tax Changes – Page 10 – Fiducial Blog

What Does the Inflation Reduction Act Mean to You?

September 21, 2022

On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022. Fiducial explores how this act will impact individual taxpayers.

Employers: How “Affordable” Will Your Health Care Coverage Be in 2023?

September 9, 2022

The IRS announced an important indexing adjustment related to the ACA. Will health care coverage you offer employees be considered “affordable” next year?

Is Your Will or Trust Up to Date? Estate Planning Is an Ongoing Process

August 24, 2022

Did you do your estate planning some time ago before the passage of substantial tax law changes? Then your documents may be out of date.

S Corporations Reasonable Compensation Requirement

July 8, 2022

Many S corporations ignore the requirement that each shareholder-employee must take reasonable compensation. This has been an issue for decades.

Managing Out-of-State Employees: How to Handle Payroll Taxes

July 6, 2022

Do you have employees living in different states from where your business is located? This can create additional challenges for you around payroll taxes.

The Standard Mileage Rate Is Increasing - Here’s What You Need to Know

June 24, 2022

The IRS is providing some relief for high gas prices.The agency announced an increase in the optional standard mileage rate.

Businesses: Prepare for the Lower 1099-K Filing Threshold

June 8, 2022

In 2022, the threshold has dropped significantly for the filing of Form 1099-K. Businesses & workers in certain industries may receive more of these forms.

You Can Expense Business IT Equipment Purchases

May 18, 2022

Businesses can now expense (write off as a deduction) IT equipment. However, it must be purchased and placed in service before the end of the year.