Do You Owe Taxes and Can't Pay by the Due Date?
What do you do if you end up owing money on your taxes? The IRS encourages you to pay the full amount by imposin penalties and interest on late payments.
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.
Switching Entities: Should You Convert from a C to an S Corporation?
An S corporation can provide substantial tax benefits over a C corporation at times. However, costly tax issues may exist that you should assess.
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.
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).
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.
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.