Fiducial Blog – Page 36

Tax Deductions for Charity Volunteers

October 30, 2020

Did you volunteer time for a charity or governmental entity during the COVID-19 pandemic? You may qualify for tax deductions.

The Easiest Way to Survive an IRS Audit is to Get Ready in Advance

October 28, 2020

IRS audit rates are historically low, according to the latest data. However, that’s little consolation if your return is among those selected.

What Are the Tax Consequences of Losing Your Job?

October 26, 2020

If you have lost your job, there are a number of tax issues you may encounter. How you deal with these issues can profoundly impact your taxes and finances.

Wealth Transition and Succession Planning for Businesses During COVID

October 23, 2020

Thanks to COVID-19, many businesses are rethinking their ideas about wealth transition and succession planning. Do you have a plan?

Will Your Organization Offer Affordable Health Insurance Next Year?

October 21, 2020

Time to review if your organization is an applicable large employer (ALE) under the ACA. If so, is your health insurance affordable under the law?

Reporting Discontinued Operations Today--What You Need to Know

October 19, 2020

COVID-19 has caused companies to make strategic shifts in operations. These pivot strategies may need to be reported under discontinued operations rules.

Form 1099-NEC Is Coming--Here’s What You Need to Know

October 16, 2020

The IRS has resurrected the Form 1099-NEC (non-employee compensation). With this form, you may report non-employee compensation in place of the 1099-MISC.

Excess Business Losses Find Change in the CARES Act

October 14, 2020

The CARES Act made changes to excess business losses. This includes retroactive changes and opportunities for businesses to file amended returns.

Extended Benefit Claims and Appeals Periods During COVID-19

October 12, 2020

Federal agencies extended certain claims and appeals periods. These claims and appeals periods apply for employee pension benefits plans subject to ERISA.

DOL Revises FFCRA Rules on Paid Sick and Family Leave

October 9, 2020

A federal trial court invalidated provisions of the DOL’s temporary regulations. These regulations affected the paid leave provisions of the FFCRA.

Tax Penalties Can Add Up--Ask Fiducial How to Avoid Them

October 7, 2020

Most taxpayers don’t mean to incur tax penalties. Many are not aware of the penalties or their impact. Let’s look at some penalties and how to avoid them.

Foreign Account Reporting (FBAR) Due October 15

October 5, 2020

Failure to file the required FBAR forms can result in severe penalties. The due date for foreign account reporting (FBAR) is October 15, 2020.

Wealthy Taxpayers May Want to Strategize for Potential Tax Increases

October 2, 2020

The President has not revealed his future tax policies, but Joe Biden has. That is why the wealthy are strategizing for potential tax increases.

October's Extended Due Date Is Fast Approaching (And So Are Penalties!)

September 30, 2020

Did you complete your 2019 return by July 15? If not, and you filed a request for more time, that extended due date expires October 15, 2020.

COVID-19 Testing, Diagnostics Not Minimum Essential Coverage

September 28, 2020

The IRS has news regarding COVID-19 testing and diagnostics. Medicaid coverage limited to COVID-19 services does not qualify as minimum essential coverage.

Traditional IRA and RMD Opportunities to Explore for 2020

September 25, 2020

Many people have taken financial hits this year. However, 2020 does provide some unique tax opportunities for those with traditional IRA accounts.

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Tax Deductions for Charity Volunteers

The Easiest Way to Survive an IRS Audit is to Get Ready in Advance

What Are the Tax Consequences of Losing Your Job?

Wealth Transition and Succession Planning for Businesses During COVID

Will Your Organization Offer Affordable Health Insurance Next Year?

Reporting Discontinued Operations Today--What You Need to Know

Form 1099-NEC Is Coming--Here’s What You Need to Know

Excess Business Losses Find Change in the CARES Act

Extended Benefit Claims and Appeals Periods During COVID-19

DOL Revises FFCRA Rules on Paid Sick and Family Leave

Tax Penalties Can Add Up--Ask Fiducial How to Avoid Them

Foreign Account Reporting (FBAR) Due October 15

Wealthy Taxpayers May Want to Strategize for Potential Tax Increases

October's Extended Due Date Is Fast Approaching (And So Are Penalties!)

COVID-19 Testing, Diagnostics Not Minimum Essential Coverage

Traditional IRA and RMD Opportunities to Explore for 2020