by ABIP | Mar 29, 2018 | News
If a company’s deductible expenses exceed its income, generally a net operating loss (NOL) occurs. The upside is tax benefits: If the tax year generating the NOL ended on or before 12/31/17, the NOL can be carried back up to 2 years to generate an immediate tax...
by ABIP | Mar 1, 2018 | News
The IRS has started releasing refunds for taxpayers who claimed the earned income tax credit and the additional child tax credit. Many of the refunds should arrive in bank accounts or on debit cards this week. The IRS also explained some facts about tax refunds, such...
by ABIP | Feb 22, 2018 | News
Donating to charity can reduce your taxable estate and benefit your favorite organizations. By making donations during your lifetime, you can claim income tax deductions. For your donations to be deductible, they must meet certain IRS criteria. For example,...
by ABIP | Feb 14, 2018 | News
Benchmarking can help your company swim with the big fish without getting gobbled up. It’s the practice of comparing your performance to that of similar businesses to identify strengths and weaknesses. Quantitative benchmarking uses key performance indicators...
by ABIP | Feb 9, 2018 | News
S corporations must comply with strict requirements or risk losing their tax-advantaged status. In an estate planning context, it’s critical that any trusts that will receive S corporation stock through the operation of your estate plan be eligible shareholders....