Fiducial’s Holiday List for Year-End Gifts with Tax Benefits
Did you know that some gifts provide a variety of tax benefits? Fiducial recommends taking advantage of year-end gifts before it’s too late!
Tax Planning Issues You Should Consider at Year-End
Year-end is approaching as are the holidays. Before the seasonal celebrations, consider year-end tax planning moves to benefit you for both 2022 and 2023.
How to Treat Business Website Costs for Tax Purposes
These days, most businesses have websites. But surprisingly, the IRS hasn’t issued formal guidance on when business website costs can be deducted.
End of Year Reminder: Time is Running Out to Take Your 2022 RMD
An RMD is a required taxable distribution from a qualified retirement plan. Often associated with traditional IRAs, they also apply to 401(k)s and SEP IRAs.
Employers: In 2023, the Social Security Wage Base Is Going Up
The Social Security Administration announced an increase in the Social Security wage base. It will increase to $160,200 in 2023 (up from $147,000 for 2022).
Research Credit Potentially Doubled by the Inflation Reduction Act
The Inflation Reduction Act could benefit small business startups. They can potentially double the amount of their research and development 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.