For Business – Page 54 – Fiducial Blog

Employee Holiday Gifts May Be Taxable--What Employers Need to Know

December 10, 2020

Employers often give employees holiday gifts. If a gift is a de minimis fringe benefit, it is tax-free to employees and tax deductible by the employer.

COLAs Are Out for 2021’s Popular Fringe Benefits

December 7, 2020

The IRS released 2021 cost-of-living adjustments (COLAs) for a variety of tax-related limits. These include those related to many popular fringe benefits.

Preparing for 2021: Tax Planning Strategies for Small Business Owners

December 4, 2020

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

November 30, 2020

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)

November 27, 2020

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

November 25, 2020

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

November 20, 2020

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

November 18, 2020

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.