Tax Problems – Fiducial Blog

4 Ways to Reasonable Compensation for Corporate Business Owners

June 9, 2023

There’s a tax advantage to taking money out of a C corp as compensation rather than dividends. But, only reasonable compensation can be deducted.

Hiring Independent Contractors? Make Sure They’re Properly Handled

June 7, 2023

Many businesses use independent contractors to help keep costs down. But be careful that these workers are properly classified for federal tax purposes.

Do You Have a Mid-Year Tax Planning Checklist? Fiducial Does

May 22, 2023

All too often, taxpayers wait until after the close of the tax year to worry about their taxes. But, mid-year is the perfect time for tax planning.

Use the NOL Deduction to Make Business Losses Less Painful

May 19, 2023

Losses can happen in any business. The NOL deduction may soften the blow by allowing businesses to apply losses to offset taxable income in future years.

The Tax and Bookkeeping Challenges of the Freelancing

May 17, 2023

It seems like more and more employees are turning to freelance work. According to one recent study, there are now 73.3 million people freelancing in the US.

Don’t Get Hit with IRS Underpayment Penalties

May 12, 2023

Under federal law, taxpayers must pay taxes during the year as they earn or receive income. If not, they can incur substantial underpayment penalties.

Tax Obligations to Consider When Closing Your Business

May 10, 2023

If you are closing your business, Fiducial can assist you. This includes taking care of the various tax responsibilities that must be met.

Don't Ignore Household Employee Payroll Tax Rules

May 5, 2023

If a domestic worker provides services in/around your home, a tax liability may exist. If the worker is your household employee, you need to know.