Learn about the duality of benefits owning an LLC can provide. Discover the tax benefits of having your LLC treated as a partnership. The business entity you choose can affect your taxes, your personal liability, and other issues. A limited liability company (LLC) is somewhat of a hybrid entity. Owners…

Learn the fundamentals of HSAs. Find information regarding inflation adjustments for 2024. Discover the annual contribution limitations. Learn the definition of a high-deductible health plan. Discover the advantages of HSAs. The IRS recently released guidance providing the 2024 inflation-adjusted amounts for Health Savings Accounts (HSAs). …

Understand the rehabilitation tax credit. Learn about QREs. Find information about the changes made to the credit with the TCJA. Learn how your Fiducial representative can help you navigate this tax credit. Does your business occupy substantial space and need to increase or move from that space in the future…

Find out what you need to know about mid-year tax planning. Learn how to avoid unpleasant surprises. Learn about events that have tax consequences. All too often, taxpayers wait until after the close of the tax year to worry about their taxes and miss opportunities that could reduce their tax…

Learn about the net operating loss (NOL) deduction. Find out how to qualify for an NOL deduction. Discover the limitations of the NOL deduction. Learn about the “excess business loss” limitation. Whether you’re operating a new company or an established business, losses can happen. The federal tax code may help…

Learn about self-employment taxes. Discover how freelancers can easily fall behind on their taxes. Learn why bookkeeping is so important when calculating deductions. Find out why freelancers should seriously consider hiring a pro to help them with bookkeeping and taxes. If it seems like more and more employees are turning…

Learn about the many early-withdrawal penalties. Find information regarding exceptions to the early-withdrawal penalty. If you find yourself looking for a quick source of cash, your retirement savings may look like a tempting option. However, if you are under age 59½ and withdraw money from a traditional IRA or qualified…

Learn about the pay-as-you-earn system. Find information regarding withholding and payment forms. Discover the IRS online withholding estimator. Learn about situations triggering underpayments. Find information about safe harbor payments. Learn about the true safe harbor. Under federal law, taxpayers must pay taxes during the year as they earn or receive…

Learn about specific tax obligations related to closing many different types of businesses. Discover your obligations to employees and independent contractors when you close your business. Learn about other issues associated with closing your business. Sadly, many businesses have been forced to shut down recently due to the pandemic and…