by ABIP | May 31, 2018 | News
For business owners with kids in high school or college, hiring them for the summer can provide many benefits. One is tax savings. By shifting business income to a child as wages for services performed, you can turn high-taxed income into tax-free or low-taxed income....
by ABIP | May 24, 2018 | News
Did you know you can exercise some control over your charitable endeavors using a donor-advised fund (DAF)? As the name implies, recommendations are integral to a DAF. First, you contribute to a fund typically managed by an independent sponsoring organization. The...
by ABIP | May 22, 2018 | News
The Tax Cuts and Jobs Act restricts the losses that owners of pass-through entities (including sole proprietors) can currently deduct. For tax years beginning in 2018 through 2025, an “excess business loss” can’t be deducted in the current year. This...
by ABIP | May 15, 2018 | News
If you wish to protect your assets while retaining some control over them, consider an irrevocable trust. Transferring assets to such a trust generally places them beyond your creditors’ reach. And by including a “spendthrift” provision, you can also...
by ABIP | May 10, 2018 | News
They say you’ve got to spend money to make money. But that doesn’t mean business owners should accept high operational costs. Cost control is a formal management technique through which you evaluate operations and isolate activities with excessive...
