Fiducial Blog – Page 3

Taking Your Spouse on a Business Trip? Can You Write off the Costs?

May 15, 2024

The rules for deducting a spouse’s travel costs are very restrictive for small business owners. Here’s a rundown of what businesses can and can’t write off for tax purposes.

What Income Is Taxable?

May 10, 2024

This article explores some of the commonly encountered situations that could have unexpected results when answering the question; "What income is Taxable?".

How Long Should You Keep Old Tax Records?

April 24, 2024

This is a common question: How long must taxpayers keep copies of their income tax returns and supporting tax records? And Fiducial has your answer.

Better Tax Break When Applying the Research Credit Against Payroll Taxes

April 22, 2024

Learn about how you may be eligible for a payroll tax credit election with little to no income tax liability.

Saver's Credit Can Help You Save for Retirement

April 19, 2024

Low/moderate-income workers can take steps to save for retirement and earn a special tax credit. Read more about saver's credit.

Ways to Deduct Health Insurance

April 17, 2024

Health insurance premiums have risen dramatically and are one of the largest expenses that most individuals pay. Learn what is treated as deductible health insurance.

What’s the Best Accounting Method Route for Business Tax Purposes?

April 12, 2024

Many businesses have a choice of using cash or accrual accounting for tax purposes. If you’re one of them, which route should you take? Here are the rules.

Major Tax Sunset of TCJA Provisions on the Horizon

April 10, 2024

In late 2017, Congress passed the Tax Cuts & Jobs Act (TCJA) which made enormous changes to income tax laws. There is a major sunset of these provisions on the horizon.

Cracking the Tax Code: Your Guide to Tax Jargon

April 5, 2024

The tax season is full of jargon. In this brief guide, we’ll give you the lowdown on some of the most important terms you should know during tax season.

Does a Foreign Entity Need a U.S. Identification Number (EIN)?

March 29, 2024

It is mandatory for foreign entities that are conducting business in the United States to have an Employer Identification Number. Learn more on how to obtain an EIN.

Understanding Self-Employment Tax

March 22, 2024

Self-employment (SE) tax is a tax consisting of Social Security and Medicare taxes primarily for individuals who work for themselves. Read more to learn.