10 Tax Strategies to Consider Before the End of 2021

10 Tax Strategies to Consider Before the End of 2021

The holiday season is almost upon us, and the 2021 tax preparation season will soon follow. Now is the time to take advantage tax-saving strategies.
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Possible Tax Consequences of Guaranteeing a Loan to Your Corporation

Possible Tax Consequences of Guaranteeing a Loan to Your Corporation

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.
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Household Employee or Contractor? Fiducial Explains the Difference

Household Employee or Contractor? Fiducial Explains the Difference

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?
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Should You Deduct Your Business Start-Up Expenses?

Should You Deduct Your Business Start-Up Expenses?

Are you a new business owner? You may be helped by a tax provision allowing you to deduct start-up expenses and organizational costs.
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Form W-2 or 1099-NEC? Employees vs. Independent Contractors

Form W-2 or 1099-NEC? Employees vs. Independent Contractors

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?
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The Work Opportunity Tax Credit (WOTC) Explained

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.
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EINs: Change Contact and Responsible Party Information in 60 Days

The IRS is reminding entities with EINs to update information. IRS regulations require EIN holders to update responsible party information within 60 days.
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Considering Married Filing Separately Status? Better Read This.

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.
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