For Business – Page 55 – Fiducial Blog

Small Businesses: Cash In On Depreciation Tax Savers

December 21, 2020

It’s time to think about whether your business needs to buy depreciable property. You may benefit from the depreciation tax deduction for business property.

SBA Questioning PPP Borrowers with Loans Over $2 Million

December 18, 2020

The secretary of the treasury intended for all PPP loans to be audited. However, now, only those of $2 million or more will be subject to audit.

Tax Rules for Deducting the Computer Software Costs of Your Business

December 16, 2020

Do you buy, lease, or develop computer software to use in your business? Know the complex rules that apply to the tax treatment of software costs.

What Is “Transparency” of Health Care Coverage?

December 14, 2020

Many employers pride themselves on transparency about how and with whom they do business. "Transparency,” however, also applies to group health care plans.

IRS Releases Final Version of Form 941-X Related to COVID-19 Relief

December 11, 2020

The IRS significantly revised Form 941-X. This form allows for adjustments and corrections to COVID-19 tax relief on previously filed Forms 941

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