Tax Changes – Page 17 – Fiducial Blog

Increased Business Meal Deduction for 2021 and 2022

April 12, 2021

Under TCJA, the business meal deduction is 50% of the actual expense. For 2021 & 2022, the Taxpayer Certainty & Disaster Tax Relief Act of 2020 allows 100%.

Here’s What Happened in the World of Small Business in March 2021

April 9, 2021

March 2021 was a big month for your small business! Check out Fiducial’s list of five things that happened last month that affect your small business.

Mark Your Calendar! April 2021 Individual and Business Tax Due Dates

April 2, 2021

April is a big month for tax due dates! The deadline to file has been extended to May 17th, but there are still some taxes due in April. Mark your calendar!

Were You the Victim of a Qualified Disaster? There Is Tax Relief Available

March 31, 2021

Often, legislation provides tax relief to the victims of a qualified disaster. Now, we have the Taxpayer Certainty and Disaster Tax Relief Act of 2020.

What Are the Tax Benefits and Drawbacks of Home Ownership?

March 29, 2021

Housing is a big expense for everyone. Fiducial looks at the tax benefits and drawbacks of buying, financing, and owning a home.

Fiducial’s List of Tax Deductions You Can Take Without Itemizing

March 26, 2021

Most taxpayers think they must itemize their tax deductions to claim them on their return. You can claim some deductions while using the standard deduction.

Interaction between PPP Loans and the Employee Retention Credit (ERC)

March 24, 2021

The Consolidated Appropriations Act (CCA) included a very tax-beneficial provision. This provision liberalized the interaction between PPP loans & the ERC.

Standard Mileage Rates Announced for 2021. What Has Changed?

March 17, 2021

The IRS annually computes standard mileage rates for use of a vehicle for business, medical and moving purposes. New rates take effect on January 1, 2021.