Taxes – Page 35 – Fiducial Blog

Got a Side Hustle? The IRS is Cracking Down with Form 1099-K

April 1, 2022

Got a Side Hustle? The IRS is cracking down with Form 1099-K. The ARPA of 2021 included a provision to reduce the reporting threshold to $600.

Don’t Think You Have to File a Tax Return? You May Be Missing Out!

March 30, 2022

The government uses your tax return for more than just collecting taxes. Fiducial wants you to know the reasons and benefits available when you file.

Do Tax Deductions and Tax Credits Result in the Same Tax Benefit?

March 28, 2022

Tax lingo can be confusing. Often taxpayers confuse the terms “tax deductions” and “tax credits.” Fiducial explains these terms for you below.

Hobby or For-Profit Activity? The Answer Matters for Tax Purposes

March 26, 2022

If you are engaged in an activity that produces income, we have a question for you. Is the activity a hobby or a business? Much hinges on the answer.

Withdrawals From Closely Held Corporations at Minimum Tax Cost

March 25, 2022

Do you want to withdraw cash from your closely held corporation at a minimum tax cost? Fiducial can help! Read on for our top five tips!

How Can a Nonworking Spouse Qualify for a Spousal IRA?

March 23, 2022

Generally, only taxpayers who have compensation may make contributions to IRAs.The spousal IRA is the exception to this rule.

Costs for Medically-Related Home Improvements Have Tax Benefits

March 19, 2022

Ten thousand baby boomers a day are reaching the age of 65. As this population ages, many people require medically-related home improvements.

Important Tax Aspects of Operating Your Business as a Sole Proprietor

March 16, 2022

Are you in business for yourself as a sole proprietor, or you’re planning to start a business? Then you need to know about the tax aspects of your venture.