Tax Changes – Page 13 – Fiducial Blog

Hobby or For-Profit Activity? The Answer Matters for Tax Purposes

March 26, 2022

If you are engaged in an activity that produces income, we have a question for you. Is the activity a hobby or a business? Much hinges on the answer.

What’s Next for the Child Tax Credit? Families Want to Know

March 7, 2022

December 15th marked the last deposit for the child tax credit payment under the ARP. Many families have been left waiting and wondering what's next.

Important Enhancements to the Earned Income Tax Credit (EITC) for 2021

March 4, 2022

The earned income tax credit (EITC) is one of the government’s largest antipoverty programs. Significant enhancements have been added - don't miss out!

Tax Benefits You Need to Know About When Saving for College Education

February 28, 2022

Looking to save for a child’s college or other post-secondary education? Fiducial knows all of the tax benefits of saving for college.

Important Tax Benefits Available to Disabled Taxpayers

February 19, 2022

Disabled taxpayers and parents of disabled children may qualify for tax credits and other tax benefits. Several tax credits and other benefits may help you.

Advance Child Tax Credit and EIP Must Be Reconciled on 2021 Return

February 18, 2022

In 2021, Congress passed the American Rescue Plan.This plan increased the child tax credit. It also implemented the advance child tax credit.

Numerous Tax Limits Affecting Businesses Have Increased for 2022

February 7, 2022

Many tax limits that affect businesses are annually indexed for inflation. Fiducial has a rundown of those that may be important to you and your business.

Complications to the Qualified Charitable Distribution (QCD) Provision

February 2, 2022

The tax code includes a provision called a Qualified Charitable Distribution (QCD). This allows retirees to make contributions for significant tax benefits.