Taxes – Page 14 – Fiducial Blog

Extreme Weather May Lead to More 401(k) Hardship Distribution Requests

August 25, 2023

Extreme weather can result in damage to personal residences. You must prepare your HR staff and employees for the hardship distribution approval process.

What Will Happen When TCJA Tax Changes Sunset in 2025?

August 23, 2023

Most of the tax changes made by TCJA will expire after 2025. This will impact long range tax planning and result in a mixed bag of tax increases and cuts.

Receive More than $10,000 in Cash at Your Business? Meet Form 8300

August 21, 2023

Does your business receive large amounts of cash or cash equivalents? Then you must report these transactions to the IRS using Form 8300.

When Tax Issues Become Tax Fraud in the Eyes of the IRS

August 16, 2023

The chasm between a "minor accident" and "intentional tax fraud" is a big one. The latter can get you into trouble and may venture into criminal territory.

Is Hobby Income Taxable? Are Hobby Losses Deductible?

August 14, 2023

Involved in a hobby that you not only enjoy but that produces income? If so, you should know how hobby income and expenses are treated for tax purposes.

Employee or Independent Contractor? Learn How to Classify Both

August 11, 2023

Employers often misclassify employees as independent contractors. Misclassification can have significant ramifications for the employer and the worker.

Seasonal Summer Employees and the Work Opportunity Tax Credit

August 9, 2023

Consider hiring long-term unemployment recipients and workers with barriers to employment. You could benefit from the Work Opportunity Tax Credit (WOTC).

Could Your 2023 IRA RMD Be Delayed?

August 4, 2023

Good news for IRA owners turning 72 in 2023! The first distribution for these IRA owners treated as an RMD will be a distribution made for 2024, not 2023.