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Using an S Corporation May Help Business Owners Reduce Tax

Using an S Corporation May Help Business Owners Reduce Tax

Is your business a sole proprietorship or an LLC? Are you paying both income tax and self-employment tax? You may cut your taxes by using an S corporation.
Does Your Tax ID Number (ITIN) Need to be Renewed?

Does Your Tax ID Number (ITIN) Need to be Renewed?

According to the IRS, just about 2 million tax ID numbers (ITINS) will expire at the end of 2019. Need to renew your tax ID number? Learn how with Fiducial.
What Are My Chances of Being Audited and How Can I Reduce Them?

What Are My Chances of Being Audited and How Can I Reduce Them?

Your chances of being audited are pretty rare. Fewer than 1% of taxpayers will get that notice on IRS letterhead. Here are some tips to lower your chances.
Eldercare can be a Medical Tax Deduction

Eldercare can be a Medical Tax Deduction

Many individuals are serving as care providers for loved ones, the cost of caring for them may be deductible as a medical expense.
Unexpected Tax Bill? Fiducial Budget Tips Can Help You Cover It

Unexpected Tax Bill? Fiducial Budget Tips Can Help You Cover It

When you’re hit with a large, unexpected tax bill, it can be shattering. People who owe significant amounts of money have several options available to them.
Setting up a Health Savings Account (HSA) for Your Small Business

Setting up a Health Savings Account (HSA) for Your Small Business

Healthcare benefits are a powerful perk when you’re looking for new hires, and an important incentive to stay put for existing employees.
Practice "Situational Awareness" When it Comes to Employees' Wages

Practice "Situational Awareness" When it Comes to Employees' Wages

The term “wages” includes more than just an employee’s allotted cash pay for work, what factors do you need to consider when formulating a wage?
Deducting the Costs of Modifications for Senior-Proofing a Home

Deducting the Costs of Modifications for Senior-Proofing a Home

If you are planning to make such home improvements, you may be wondering whether any of the costs will be tax-deductible.
Wayfair Revisited — It’s Time to Review Your Sales Tax Obligations

Wayfair Revisited — It’s Time to Review Your Sales Tax Obligations

A state is constitutionally prohibited from taxing business activities unless those activities have a substantial “nexus,” or connection, with the state.
Pension Startup Credit for Employers Substantially Increased

Pension Startup Credit for Employers Substantially Increased

Are you considering establishing a qualified pension plan for your business? You may be entitled to a pension startup credit for employers.
Filing Status Changes May Bring Unwelcome Surprises

Filing Status Changes May Bring Unwelcome Surprises

Filing status changes because of a life event can have major ramifications. Marriage, divorce, separation or death of a spouse can change your tax status.
Higher Medical Deductions Allowed by Congress for 2019 and 2020

Higher Medical Deductions Allowed by Congress for 2019 and 2020

Medical deductions are an itemized deduction. However, they must exceed a percentage of a taxpayer’s adjusted gross income (AGI), which can change.

Small Business Owners May Qualify for a Home-Office Deduction

If you run your business from your home, you may qualify for a home-office deduction. This blog will show you your options.
How Can I Prove Financial Hardship to the IRS If I Can't Pay My Taxes?

How Can I Prove Financial Hardship to the IRS If I Can't Pay My Taxes?

It’s that time of year again, and you may sincerely wonder how you will pay your tax bill, explore payment or alternative plans with the IRS.
Tax Return Question: Are You Required to File a Tax Return?

Tax Return Question: Are You Required to File a Tax Return?

There are times when individuals are REQUIRED to file a tax return. There are also times when it is to the individuals’ BENEFIT to file a return.

Understanding Tax Lingo

Ever tried to read an article or blog about a tax issue only…