Are You Missing Out on the Increased Child Tax Credit?

Are You Missing Out on the Increased Child Tax Credit?

Included in ARPA was a one-year enhancement of the child tax credit for 2021 only. The law boosted the credit from $2,000 to $3,000 for children aged 6 -17.
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Three Tax Breaks Every Small Business Should Know About

Three Tax Breaks Every Small Business Should Know About

Sometimes, bigger isn’t better. Your small- or medium-sized business may be eligible for some tax breaks not available to larger businesses.
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Why You May Receive an IRS Form 1099-K This Year

Why You May Receive an IRS Form 1099-K This Year

Effective for 2022 and beyond, Congress reduced the threshold for the Form 1099-K filing requirement. Fiducial explores the ways taxpayers can be affected.
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The Inflation Reduction Act Gives the Solar Tax Credit New Life

The Inflation Reduction Act Gives the Solar Tax Credit New Life

The Inflation Reduction Act gives new life to the federal solar tax credit. It also provides guidelines allowing batteries to also qualify for the credit.
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The New Home Energy Improvement Credit Is Bigger and Better

The New Home Energy Improvement Credit Is Bigger and Better

A tax credit for making energy-saving improvements to a home isn't new. However, the Inflation Reduction Act enhanced the home energy improvement credit.
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Electric Vehicle Credit Undergoes Major Overhaul

Electric Vehicle Credit Undergoes Major Overhaul

Recently, the Inflation Reduction Act of 2022 was passed. With it, the electric vehicle credit has undergone some major changes.
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IRS News Regarding Employer Reversion and Spinoff/Termination

IRS News Regarding Employer Reversion and Spinoff/Termination

What happens when a qualified retirement plan terminates with surplus funds? Employer reversion. And the IRS has specific rules governing this process.
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Should There Be New Tax Rules for Telecommuters?

Should There Be New Tax Rules for Telecommuters?

Employers and employees enjoy being telecommuters - even post-pandemic. Should the IRS update the tax rules re: the deductibility of travel expenses?
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