Taxes – Page 44 – Fiducial Blog

More Relief from Failure-to-Deposit Employment Tax Penalties

May 28, 2021

An employer would typically be penalized for failing to deposit federal employment tax. Examples include deposits of withheld income taxes and FICA taxes.

Tax Court Decision Holds Potential Impact for Travel Deductions

May 24, 2021

Many professions require extensive travel and time in paid lodging.Traditionally, taxpayers claim these as travel deductions. However, new rules are coming.

Tax Advantages of Hiring Your Child at Your Small Business

May 21, 2021

Did you know that you can save family income and payroll taxes by putting your child on the payroll? If you own a small business, read on!

Do You Owe Taxes and Can't Pay by the Due Date?

May 17, 2021

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!

May 14, 2021

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?

May 12, 2021

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

May 10, 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.

Mother doing home schooling with child while wearing surgical face mask for coronavirus

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

May 3, 2021

Employers use cafeteria plans to offer employees a menu of benefits. Among the most popular are enrollment in dependent care assistance programs (DCAPs).