Traditional or Roth IRA? Which Plan Will Be Best for You?

Traditional or Roth IRA? Which Plan Will Be Best for You?

The tax code offers two IRA types. Fiducial has a primer on both kinds of IRAs. Learn their pros and cons, and how to choose the one that’s right for you.
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QBI Deduction Basics and a Year-End Tax Tip that Might Help You Qualify

QBI Deduction Basics and a Year-End Tax Tip that Might Help You Qualify

If you own a business, you may be eligible to take the QBI deduction. We sometimes refer to this as the pass-through deduction or Section 199A deduction.
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Small Businesses: Cash In On Depreciation Tax Savers

Small Businesses: Cash In On Depreciation Tax Savers

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.
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Mortgage Insurance Premium Deduction Retroactively Extended

Mortgage Insurance Premium Deduction Retroactively Extended

This mortgage insurance premium deduction has been retroactively extended back to 2018 and through 2020. Consider amending your 2018 return for a refund.
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Tax Rules for Deducting the Computer Software Costs of Your Business

Tax Rules for Deducting the Computer Software Costs of Your Business

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

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

The IRS significantly revised Form 941-X. This form allows for adjustments and corrections to COVID-19 tax relief on previously filed Forms 941
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Employee Holiday Gifts May Be Taxable--What Employers Need to Know

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

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.
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There is More to Deducting Health Insurance than Meets the Eye

There is More to Deducting Health Insurance than Meets the Eye

Health insurance premiums, especially in the wake of the ACA, have risen dramatically. They constitute one of the greatest expenses most individuals pay.
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