Tax Effects of a Business Making a Charitable Contribution

Tax Effects of a Business Making a Charitable Contribution

Businesses generally aren't allowed a business expense deduction for a charitable contribution. Fiducial explains the pros and cons of these contributions.
How to Protect Yourself Against Coronavirus-Related Scams

How to Protect Yourself Against Coronavirus-Related Scams

The IRS and other government agencies note a rise in scams during the COVID-19 crisis. Individuals and groups are taking advantage of unwitting taxpayers.
Form W-2 reporting of COVID-19-related sick leave and family leave

Form W-2 reporting of COVID-19-related sick leave and family leave

In Notice 2020-54, the IRS provided new guidance. The guidance advises employers on Form W-2 reporting of qualified sick leave and family leave wages
Social Security Taxes Deferred: What Does It Mean for Your Business?

Social Security Taxes Deferred: What Does It Mean for Your Business?

The President signed a Presidential Memorandum to defer employee's Social Security taxes. The action only defers the taxes; they’ll be paid back eventually.
The Energy-Saving Tax Credit Is Back! Do You Qualify?

The Energy-Saving Tax Credit Is Back! Do You Qualify?

This credit is best described as an energy-saving tax credit. It applies to improvements to the taxpayer’s existing home to make it more energy efficient.
Possible Tax Consequences of Paycheck Protection Program (PPP) Loans

Possible Tax Consequences of Paycheck Protection Program (PPP) Loans

Was your business lucky enough to get a Paycheck Protection Program (PPP) loan? Then, Fiducial has some info you may need about potential tax implications.