A frequent question that arises when borrowing money is whether or not the interest will be tax deductible. Unfortunately, not all interest is deductible.
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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).
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The Inflation Reduction Act could benefit small business startups. They can potentially double the amount of their research and development 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.
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You and your small business are likely to incur a variety of local transportation costs each year. There are various tax implications for these expenses.
https://blog.fiducial.com/wp-content/uploads/2022/11/FiducialBlogImage--Whatlocaltransportationcostscanyourbusinessdeduct_947ddafdbc0852bb37023787eeca15da_2000.jpg292560Kelly Cockerhamhttps://blog.fiducial.com/wp-content/uploads/2024/02/Fiducial-logo-horizontal-black-300x51.pngKelly Cockerham2022-11-11 14:00:532022-11-11 14:00:53What Local Transportation Costs Can Your Business Deduct?
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Effective for 2022 and beyond, Congress reduced the threshold for the Form 1099-K filing requirement. Fiducial explores the ways taxpayers can be affected.
https://blog.fiducial.com/wp-content/uploads/2022/11/FiducialBlogImage--Form1099-KReporting_4978360a4f369610d7939823a90849f7_2000.jpg292560Kelly Cockerhamhttps://blog.fiducial.com/wp-content/uploads/2024/02/Fiducial-logo-horizontal-black-300x51.pngKelly Cockerham2022-11-02 13:00:212022-11-02 13:00:21Why You May Receive an IRS Form 1099-K This Year
The Inflation Reduction Act gives new life to the federal solar tax credit. It also provides guidelines allowing batteries to also qualify for the credit.
https://blog.fiducial.com/wp-content/uploads/2022/10/FiducialBlogImage--SolarTaxCreditGetsNewLife2_80b9757bab64cc29cc87a8bfea7ed07e_2000.png788940Kelly Cockerhamhttps://blog.fiducial.com/wp-content/uploads/2024/02/Fiducial-logo-horizontal-black-300x51.pngKelly Cockerham2022-10-28 13:00:262022-10-28 13:00:26The Inflation Reduction Act Gives the Solar Tax Credit New Life