Preparing for 2021: Tax Planning Strategies for Small Business Owners

Preparing for 2021: Tax Planning Strategies for Small Business Owners

If you are a small business owner, every penny counts. So, you not only want to optimize your revenue but also minimize your expenses and your tax liability
Business website costs: How to handle them for tax purposes

Business website costs: How to handle them for tax purposes

The business use of websites is widespread. However, the IRS hasn’t yet issued formal guidance on when Internet business website costs can be deducted.
How to Report COVID-19-related Troubled Debt Restructurings (TDRs)

How to Report COVID-19-related Troubled Debt Restructurings (TDRs)

Banks are working with borrowers on loan modifications. Recent guidance confirms that short-term changes due to COVID-19 won’t be subject to rules for TDRs.
Health Savings Accounts (HSAs) For Your Small Business

Health Savings Accounts (HSAs) For Your Small Business

Small business owners know the increasing cost of employee health care benefits. Employer-sponsored HSAs may provide some of these benefits and save money.
2021 Dollar Limits and Thresholds for 401(k) Plans and Similar Plans

2021 Dollar Limits and Thresholds for 401(k) Plans and Similar Plans

The IRS recently announced the 2021 dollar limits and thresholds for retirement plans. Fiducial has some of the relevant amounts for 401(k) plans.
IRS Announces Max Dollar Amount for Excepted Benefit HRAs

IRS Announces Max Dollar Amount for Excepted Benefit HRAs

The IRS has news about HRAs! The 2021 inflation-adjusted max dollar amount for excepted benefit HRAs or other account-based group health plans is here.
Tax-Planning Opportunities for Year-end That You Should Not Miss

Tax-Planning Opportunities for Year-end That You Should Not Miss

2020 has more than the usual tax-planning opportunities. Schedule a tax-planning appointment before year-end to enjoy tax benefits and strategies for 2020.
Can Employers Provide Disaster Relief for COVID-19?

Can Employers Provide Disaster Relief for COVID-19?

Many employees have suffered financial hardships due to the COVID-19 pandemic. In response, employers may consider disaster relief as a fringe benefit.