Tax Changes – Page 20 – Fiducial Blog

Charitable Contributions Deduction Liberalized for 2021

March 3, 2021

To stimulate charitable contributions during the pandemic, Congress made two notable changes for 2020. Fiducial has more info on this potential deduction!

4 Questions Business Owners Should Consider for Their 2020 Taxes

March 1, 2021

If 2020 wasn’t challenging enough, this season’s tax-filing is even more complicated than usual. Here are 4 questions you should ask about 2020's taxes.

How Biden's American Rescue Plan Might Impact Your Taxes

February 12, 2021

President Biden released his “American Rescue Plan” on January 14. It is a wish list of proposals to address the COVID-19 pandemic and economic crisis.

payroll. Wooden letters on dark background

Updated Guidance on the Employee Payroll Tax Deferral

February 10, 2021

In late January, the IRS updated Notice 2020-65. The update reflects the changed tax deferral rules contained in the Consolidated Appropriations Act (CAA).

New Form 1099-NEC and Revised 1099-MISC Deadline Are Approaching

January 29, 2021

Payers must complete Form 1099-NEC to report any payment of $600 or more to a recipient. Use Form 1099-MISC to report certain other payments to recipients.

Didn’t Receive Your EIP? Claim It on Your 2020 Return

January 25, 2021

Congress called them recovery rebates. You may know them as the Economic Impact Payments (EIP).Didn't get yours? Claim it on your 2020 tax return.

PPP Loans Have Reopened: Let’s Review the Tax Consequences

January 22, 2021

The SBA announced that the PPP reopened the week of January 11. Are you wondering about the tax consequences of PPP loans received during the pandemic?

The Enhanced Employee Retention Tax Credit (ERTC)

January 15, 2021

COVID-19 has caused widespread furloughs and layoffs. Fortunately, employers that keep workers on their payrolls may meet qualify for a refundable ERTC.