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What Is Tax Basis and Why Is It So Important?

What Is Tax Basis and Why Is It So Important?

The term “basis” refers to the monetary value used to measure a gain or loss. In this article, Fiducial explores tax basis in various circumstances.
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Good News! Fully Deduct Business Meals in 2021 and 2022

Good News! Fully Deduct Business Meals in 2021 and 2022

The federal government is picking up the tab for certain business meals. The usual deduction for 50% of the cost of these meals doubled in 2022 (and 2021).
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Are COVID-19 Testing and Vaccination Programs Subject to ERISA?

Are COVID-19 Testing and Vaccination Programs Subject to ERISA?

Many employers may soon greenlight their full “return to office” plans.Some organizations are considering on-site COVID-19 testing and vaccinations
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Fiducial’s Guide to Forming a Joint Venture: What You Need to Know

Fiducial’s Guide to Forming a Joint Venture: What You Need to Know

Before agreeing to a joint venture, business owners must assess how to proceed. They must consider all aspects of the new organization's operations.
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The Smart Money Moves That a Gig Worker Needs to Make

The Smart Money Moves That a Gig Worker Needs to Make

Lucky enough to be a gig worker? Fiducial offers some of the smart money management moves that can make freelancing truly rewarding.
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Got a Side Hustle? The IRS is Cracking Down with Form 1099-K

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

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

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

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

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

Tax lingo can be confusing. Often taxpayers confuse the terms “tax deductions” and “tax credits.” Fiducial explains these terms for you below.
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Hobby or For-Profit Activity? The Answer Matters for Tax Purposes

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

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.
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Withdrawals From Closely Held Corporations at Minimum Tax Cost

Withdrawals From Closely Held Corporations at Minimum Tax Cost

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!
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How Can a Nonworking Spouse Qualify for a Spousal IRA?

How Can a Nonworking Spouse Qualify for a Spousal IRA?

Generally, only taxpayers who have compensation may make contributions to IRAs.The spousal IRA is the exception to this rule.
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Getting a New Business Off the Ground: How Start-Up Expenses are Handled on Your Tax Return

Getting a New Business Off the Ground: How Start-Up Expenses are Handled on Your Tax Return

Business applications have increased over the past year, according to the U.S. Census Bureau. If you’re launching a business, here’s how start-up expenses are treated on a federal tax return.
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Costs for Medically-Related Home Improvements Have Tax Benefits

Costs for Medically-Related Home Improvements Have Tax Benefits

Ten thousand baby boomers a day are reaching the age of 65. As this population ages, many people require medically-related home improvements.
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Could Promoting Internally Ease Your Hiring Woes?

Could Promoting Internally Ease Your Hiring Woes?

Much has been written about the difficulties employers face finding job candidates.Some employers might ease these woes by promoting internally.
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Important Tax Aspects of Operating Your Business as a Sole Proprietor

Important Tax Aspects of Operating Your Business as a Sole Proprietor

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.
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Strategic Preparation is Key to Selling Your Company

Strategic Preparation is Key to Selling Your Company

Many people dream of starting their own company. Few realize that selling your company requires almost the same amount of effort and planning.
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