
Possible Tax Consequences of Guaranteeing a L...
If your corporation defaults on a loan that you guarantee, you don’t want to be blindsided by the tax implications. Here is what you need to know.

Household Employee or Contractor? Fiducial Ex...
The IRS requires employers to withhold taxes for employees and issue them W-2s. So, what is the difference between a household employee and a contractor?

Should You Deduct Your Business Start-Up Expe...
Are you a new business owner? You may be helped by a tax provision allowing you to deduct start-up expenses and organizational costs.

Form W-2 or 1099-NEC? Employees vs. Independe...
You’ll need to decide whether to use a W-2 or a 1099-NEC to report each worker's wages. How you categorize the relationship between a worker and a business?

The Work Opportunity Tax Credit (WOTC) Explai...
You may be able to claim a Work Opportunity Tax Credit (WOTC). This is an income tax credit, unlike pandemic-related credits on employment taxes.

EINs: Change Contact and Responsible Party In...
The IRS is reminding entities with EINs to update information. IRS regulations require EIN holders to update responsible party information within 60 days.

Considering Married Filing Separately Status?...
Married taxpayers have 2 options when filing their 1040 or 1040-SR taxes. Fiducial has some of the issues related to filing as married filing separately.