Tax Changes – Page 5 – Fiducial Blog

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.

Many Taxpayers Could See Smaller Tax Refunds This Year

March 22, 2023

COVID pandemic-related benefits have come to an end. These decreases in federal tax benefits will mean smaller 2022 tax refunds for taxpayers..

Buying a New Business Vehicle? A Heavy SUV Is a Tax-Smart Choice

March 13, 2023

Buying or replacing a vehicle that you’ll use in your business? A heavy SUV may provide a more generous tax break this year than a smaller vehicle.

Implications of the R&D Tax Policy Changes on Manufacturers Everywhere

March 3, 2023

Do you know about a recent R&D tax policy change? It will impact the way that R&D is handled when it comes to income taxes in the United States.