Tax Court Decision Holds Potential Impact for Travel Deductions

Tax Court Decision Holds Potential Impact for Travel Deductions

Many professions require extensive travel and time in paid lodging.Traditionally, taxpayers claim these as travel deductions. However, new rules are coming.
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Looking for a Tax Credit? Don’t Miss out on These!

Looking for a Tax Credit? Don’t Miss out on These!

A tax credit is a tax benefit that offsets your actual tax liability. Check out Fiducial's list of tax credits available to individual taxpayers for 2020.
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Good News! Big Increase in Child Tax Credit For 2021

Good News! Big Increase in Child Tax Credit For 2021

An increased child tax credit is part of the ARPA. The IRS will pay a portion of the credit in advance in monthly payments from July through December.
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Mother doing home schooling with child while wearing surgical face mask for coronavirus

Cafeteria-Plan DCAPs Get Temporary Boost from COVID-19 Relief Act

Employers use cafeteria plans to offer employees a menu of benefits. Among the most popular are enrollment in dependent care assistance programs (DCAPs).
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Another Round of Economic Impact Payments Approved by Congress

Another Round of Economic Impact Payments Approved by Congress

The American Rescue Plan Act includes an economic impact payment (EIP). This will be the third round of economic impact payments since the pandemic began.
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Good news! Solar Tax Credit Extended for Two Years

Good news! Solar Tax Credit Extended for Two Years

A federal solar tax credit fhas been extended through 2023. The credit for 2021 and 2022 is 26% of the cost of the installation. It drops to 22% for 2023.
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Business highlights in the new American Rescue Plan Act (ARPA)

Business highlights in the new American Rescue Plan Act (ARPA)

President Biden signed the $1.9 trillion American Rescue Plan Act (ARPA) on March 11. Here's are several tax breaks and financial benefits for businesses.
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Employee Retention Credit Extended Through June 2021

Employee Retention Credit Extended Through June 2021

During the pandemic, the CARES Act created the Employee Retention Credit for 2020. As part of the CCA, the credit has been extended through June 2021.
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