For Business – Page 48 – Fiducial Blog

Nexus Rules Are Being Reshaped for Remote Workers Due to COVID-19

September 7, 2020

With more people working from home, states are considering nexus. State governments must address remote employees in terms of nexus rules and tax revenue.

Court invalidates some COVID-19 paid sick and family leave regs

September 4, 2020

Parts of the DOL’s temporary regs of the paid sick and family leave parts of the FFCRAwere nullified. This is important in the implementation of the law.

Employers, Don't Miss Out on the Work Opportunity Credit (WOTC)

September 2, 2020

The Taxpayer Certainty and Disaster Tax Relief Act of 2019 extended the Work Opportunity Tax Credit (WOTC). This lets employers who are willing to help disadvantaged people benefit from a substantial federal tax credit.

Tax Effects of a Business Making a Charitable Contribution

August 28, 2020

Businesses generally aren't allowed a business expense deduction for a charitable contribution. Fiducial explains the pros and cons of these contributions.

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

August 24, 2020

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?

August 21, 2020

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.

Possible Tax Consequences of Paycheck Protection Program (PPP) Loans

August 17, 2020

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.

Good Records Key to Tax Deductions and Trouble-free IRS Audits

August 12, 2020

You should record expenses to claim the full amount of tax deductions you’re owed. Also, make sure you can defend your tax returns if audited by the IRS.