Tax Problems – Page 3 – Fiducial Blog

Got a Letter From the IRS? Don’t Panic - Learn About CP-Series Notices!

July 17, 2023

The IRS now does most of its auditing through correspondence, so an IRS letter can cause panic. Learn more about CP-series notices and what they mean.

Are You an American Living Abroad? Here Are Tips for Expats Filing Taxes

June 30, 2023

Think that because you've moved out of the country, you don't have to pay taxes on money you earn? Not so. Expats need to continue filing taxes.

Overlook Something on a Prior Tax Return? File an Amended Return

June 21, 2023

Taxpayers sometimes overlook items of income on a tax return. It happens! Learn why it's so important to file an amended return.

DOs and DON’Ts of Deducting Business Meal & Vehicle Expenses

June 19, 2023

Claiming deductions for business meals or auto expenses? Expect the IRS to closely review them. Tax auditors root out inconsistencies, omissions, and errors.

The IRS Issues Update to the Scams to Be Aware of for 2023 and Beyond

June 12, 2023

When it comes to income taxes, two things tend to be true every year. First, April will always roll around, and second, with tax season comes tax scams.

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.