Taxes – Page 25 – Fiducial Blog

Wondering Which Types of Interest Are Deductible for Taxes?

November 25, 2022

A frequent question that arises when borrowing money is whether or not the interest will be tax deductible. Unfortunately, not all interest is deductible.

Employers: In 2023, the Social Security Wage Base Is Going Up

November 21, 2022

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).

Research Credit Potentially Doubled by the Inflation Reduction Act

November 18, 2022

The Inflation Reduction Act could benefit small business startups. They can potentially double the amount of their research and development tax credit.

Are You Missing Out on the Increased Child Tax Credit?

November 16, 2022

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.

What Local Transportation Costs Can Your Business Deduct?

November 11, 2022

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.

Three Tax Breaks Every Small Business Should Know About

November 4, 2022

Sometimes, bigger isn’t better. Your small- or medium-sized business may be eligible for some tax breaks not available to larger businesses.

Why You May Receive an IRS Form 1099-K This Year

November 2, 2022

Effective for 2022 and beyond, Congress reduced the threshold for the Form 1099-K filing requirement. Fiducial explores the ways taxpayers can be affected.

The Inflation Reduction Act Gives the Solar Tax Credit New Life

October 28, 2022

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.