by ABIP | Sep 9, 2019 | News
Here are a few key tax-related deadlines for businesses and other employers during Quarter 4 of 2019. OCT. 15: If a calendar-year C corp. that filed an extension, file a 2018 income tax return. OCT. 31: Report income tax withholding and FICA taxes for Q3 2019 (unless...
by ABIP | Sep 4, 2019 | News
If you’re a small business owner, you may want to set up a retirement plan for yourself and any employees. Several types of plans are eligible for tax advantages, including 401(k)s, Simplified Employee Pension (SEP) plans and SIMPLE IRAs. For 2019, the maximum amount...
by ABIP | Aug 28, 2019 | News
The use of a company car is a valuable fringe benefit for business owners and key employees. This perk results in tax deductions for the employer and tax breaks for the owners and employees using the cars. (And of course, they get the nontax benefits of driving the...
by ABIP | Aug 21, 2019 | News
Operating a business as an S corporation may provide advantages, including limited liability and no double taxation (at least at the federal level). Self-employed people may also be able to lower their exposure to Social Security and Medicare taxes. But not all...
by ABIP | Aug 14, 2019 | News
In recent months, many businesses and employers have received “no-match” letters from the Social Security Administration (SSA). These letters alert employers if employees’ names and Social Security numbers (SSNs) don’t match the data reported on W-2 forms, which are...