Taxes – Page 22 – 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?

Important Considerations When Engaging in a Like-Kind Exchange

April 12, 2023

How can a business or individual dispose of appreciated real property without taxation on the gain? You can do this through a like-kind exchange.

How Employee Stock Options Are Taxed

April 10, 2023

There are two basic types of employee stock options for tax purposes: a non-statutory option and a statutory option. Their tax treatment is very different.

What You Need to Know About Converting an S Corp to a C Corp

April 7, 2023

Converting from an S Corp to a C Corp is possible. However, it's a process that requires you to keep a few key things in mind along the way.

Missed Filing Tax Returns for Multiple Years?

April 5, 2023

Few people actually enjoy the process of filing tax returns. Having said that, you have no choice - you must do so like clockwork every single year

Can’t Pay Your Taxes? Here Are Some Payment Options

April 3, 2023

There are those who for one reason or another end up owing on their taxes. Of those who owe, many can’t pay their taxes by the return due date (April 18).

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.