Tax Changes – Page 10 – Fiducial Blog

Three Tax Breaks Every Small Business Should Know About

November 4, 2022

Sometimes, bigger isn’t better. Your small- or medium-sized business may be eligible for some tax breaks not available to larger businesses.

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

November 2, 2022

Effective for 2022 and beyond, Congress reduced the threshold for the Form 1099-K filing requirement. Fiducial explores the ways taxpayers can be affected.

The Inflation Reduction Act Gives the Solar Tax Credit New Life

October 28, 2022

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.

The New Home Energy Improvement Credit Is Bigger and Better

October 26, 2022

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.

Electric Vehicle Credit Undergoes Major Overhaul

October 24, 2022

Recently, the Inflation Reduction Act of 2022 was passed. With it, the electric vehicle credit has undergone some major changes.

IRS News Regarding Employer Reversion and Spinoff/Termination

October 21, 2022

What happens when a qualified retirement plan terminates with surplus funds? Employer reversion. And the IRS has specific rules governing this process.

Should There Be New Tax Rules for Telecommuters?

October 10, 2022

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

Inflation Reduction Act Provisions of Interest to Small Businesses

October 3, 2022

The Inflation Reduction Act (IRA) was signed into law by President Biden on August 16. It contains provisions that provide tax relief for small businesses