Fiducial Blog – Page 36

Health Savings Accounts (HSAs) For Your Small Business

November 25, 2020

Small business owners know the increasing cost of employee health care benefits. Employer-sponsored HSAs may provide some of these benefits and save money.

Do You Know Unemployment Benefits Are Taxable?

November 23, 2020

Some workers are receiving unemployment benefits for the first time. They may not know that the benefits are taxable for federal purposes & in some states.

2021 Dollar Limits and Thresholds for 401(k) Plans and Similar Plans

November 20, 2020

The IRS recently announced the 2021 dollar limits and thresholds for retirement plans. Fiducial has some of the relevant amounts for 401(k) plans.

IRS Announces Max Dollar Amount for Excepted Benefit HRAs

November 18, 2020

The IRS has news about HRAs! The 2021 inflation-adjusted max dollar amount for excepted benefit HRAs or other account-based group health plans is here.

Tax-Planning Opportunities for Year-end That You Should Not Miss

November 16, 2020

2020 has more than the usual tax-planning opportunities. Schedule a tax-planning appointment before year-end to enjoy tax benefits and strategies for 2020.

Can Employers Provide Disaster Relief for COVID-19?

November 13, 2020

Many employees have suffered financial hardships due to the COVID-19 pandemic. In response, employers may consider disaster relief as a fringe benefit.

Closing Your Business Amid the Pandemic? Know Your Tax Obligations

November 11, 2020

Has the pandemic forced the closing of your business? If so, Fiducial will assist you in taking care of the tax obligations that must be met.

The SBA Issues a Simplified PPP Loan-Forgiveness Application

November 9, 2020

PPP loan forgiveness is not a given--you must apply for it. The borrower must submit a request to the lender or the lender that services the loan.

Did you Know That the Social Security Wage Base Is Increasing in 2021?

November 6, 2020

Is your business planning payroll next year? Be aware that the Social Security wage base is increasing. The max earnings subject to SS tax will increase.

Has the IRS Cashed Your Check? The Problem Is an IRS Mail Backlog

November 4, 2020

During the pandemic, the IRS furloughed employees or had them work from home. IRS offices remained shuttered for months. This caused an IRS mail backlog.

What Happens if I Missed the October 15th Tax Extension Deadline?

November 2, 2020

With the hustle and bustle, you realize that the October 15th tax extension deadline has passed. And you still haven’t filed. What should you do now?

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.