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Nexus Rules Are Being Reshaped for Remote Workers Due to COVID-19

Nexus Rules Are Being Reshaped for Remote Workers Due to COVID-19

With more people working from home, states are considering nexus. State governments must address remote employees in terms of nexus rules and tax revenue.
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Court invalidates some COVID-19 paid sick and family leave regs

Court invalidates some COVID-19 paid sick and family leave regs

Parts of the DOL’s temporary regs of the paid sick and family leave parts of the FFCRAwere nullified. This is important in the implementation of the law.
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Employers, Don't Miss Out on the Work Opportunity Credit (WOTC)

Employers, Don't Miss Out on the Work Opportunity Credit (WOTC)

The Taxpayer Certainty and Disaster Tax Relief Act of 2019 extended the Work Opportunity Tax Credit (WOTC). This lets employers who are willing to help disadvantaged people benefit from a substantial federal tax credit.
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Your Sec 529 Plan (College Savings Plan) Just Became More Useful

Your Sec 529 Plan (College Savings Plan) Just Became More Useful

A Sec 529 Plan is a tax-beneficial incentive for parents and others to save money for college tuition and fees. Congress just made them more useful.
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Tax Effects of a Business Making a Charitable Contribution

Tax Effects of a Business Making a Charitable Contribution

Businesses generally aren't allowed a business expense deduction for a charitable contribution. Fiducial explains the pros and cons of these contributions.
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How to Protect Yourself Against Coronavirus-Related Scams

How to Protect Yourself Against Coronavirus-Related Scams

The IRS and other government agencies note a rise in scams during the COVID-19 crisis. Individuals and groups are taking advantage of unwitting taxpayers.
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Form W-2 reporting of COVID-19-related sick leave and family leave

Form W-2 reporting of COVID-19-related sick leave and family leave

In Notice 2020-54, the IRS provided new guidance. The guidance advises employers on Form W-2 reporting of qualified sick leave and family leave wages
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Social Security Taxes Deferred: What Does It Mean for Your Business?

Social Security Taxes Deferred: What Does It Mean for Your Business?

The President signed a Presidential Memorandum to defer employee's Social Security taxes. The action only defers the taxes; they’ll be paid back eventually.
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The Energy-Saving Tax Credit Is Back! Do You Qualify?

The Energy-Saving Tax Credit Is Back! Do You Qualify?

This credit is best described as an energy-saving tax credit. It applies to improvements to the taxpayer’s existing home to make it more energy efficient.
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Possible Tax Consequences of Paycheck Protection Program (PPP) Loans

Possible Tax Consequences of Paycheck Protection Program (PPP) Loans

Was your business lucky enough to get a Paycheck Protection Program (PPP) loan? Then, Fiducial has some info you may need about potential tax implications.
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Don’t Throw Away Your Notice 1444! You’ll Need It for Your 2020 Taxes

Don’t Throw Away Your Notice 1444! You’ll Need It for Your 2020 Taxes

The IRS mailed Economic Impact Payment recipients a Notice 1444. This notice includes payment amount, payment method and how to report payment not received.
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Good Records Key to Tax Deductions and Trouble-free IRS Audits

Good Records Key to Tax Deductions and Trouble-free IRS Audits

You should record expenses to claim the full amount of tax deductions you’re owed. Also, make sure you can defend your tax returns if audited by the IRS.
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Safe Harbor 401(k)s: IRS Relief for Midyear Contribution Changes

Safe Harbor 401(k)s: IRS Relief for Midyear Contribution Changes

In response to the COVID-19 crisis, the IRS issued Notice 2020-52. It offers sponsors of safe harbor 401(k) plans temporary relief from some requirements.
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IRS Guidance on “Coronavirus-related” Distributions from Retirement Plans

IRS Guidance on “Coronavirus-related” Distributions from Retirement Plans

Notice 2020-50 gives guidance on "coronavirus-related distributions" from retirement plans. Fiducial offers details employers may need.
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Paycheck Protection Program (PPP) Loan Application Period Extended

Paycheck Protection Program (PPP) Loan Application Period Extended

Miss your chance to apply for a Paycheck Protection Program (PPP) loan? Well, Congress extended the application period for PPP loans through August 8, 2020.
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Lease vs. buy? Changes to accounting rules may change your mind

Lease vs. buy? Changes to accounting rules may change your mind

Rules for reporting leasing transactions are changing. The new requirements are making companies reevaluate their thinking on the issue of lease vs. buy.
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