by ABIP | Sep 3, 2021 | Accounting, Business, COVID-19, Individuals, Newsletter
Safe harbor is now available that allows employers to exclude certain items from their gross receipts solely for determining eligibility for the Employee Retention Credit (ERC). These amounts are: The amount of the forgiveness of a Paycheck Protection Program (PPP)...
by ABIP | Sep 2, 2021 | Accounting, COVID-19, Newsletter
Extension Deadline Looming for 2020 Tax Returns Time is running short for taxpayers who requested an extra six months to file their 2020 tax return. As a reminder, Friday, October 15, 2021, is the extension deadline for most taxpayers. Taxpayers who owe tax – even...
by ABIP | Sep 1, 2021 | Individuals, Newsletter
Tax Relief for Those Affected by Natural Disasters Recovery efforts after natural disasters can be costly. With floods, tornadoes, hurricanes, earthquakes, and other natural disasters affecting so many people throughout the U.S. this year, many have been left...
by ABIP | Aug 20, 2021 | Business, News, Newsletter
Employee Retention Credits Last year, the CARES Act introduced an Employee Retention Credit (ERC) to provide reimbursement of wages for businesses affected by the COVID-19 virus and incentivize employers to maintain a pre-pandemic level workforce. Although it was...
by ABIP | Aug 20, 2021 | Business, News, Newsletter
R&D Credits Is your organization working to improve existing products, processes, or software? Or are you developing new ones? The research and development (R&D) tax credit has the potential to benefit your organization by providing valuable tax savings. The...
by ABIP | Aug 20, 2021 | Business
SOC Compliance Securing a SOC (Service Organization Control) audit with the help of ABIP can prevent these security issues from negatively impacting your business. SOC auditors evaluate your data systems based on the five trust principles: Security, Availability,...
by ABIP | Aug 19, 2021 | Business, Fraud, News, Newsletter
How Secure is Your Client Data? As the digital world continues to expand, we must protect all of the information and valuables associated. Having faulty cybersecurity leaves a window of opportunity for cyber theft and data corruption. We have a team of certified...
by ABIP | Aug 5, 2021 | Individuals, Newsletter, Taxes
An important part of tax planning is keeping good records. Having an organized recordkeeping system makes it easier to file a tax return or understand a letter from the IRS. Here are some tips: Good Recordkeeping Helps Taxpayers: Identify sources of income. Taxpayers...
by ABIP | Aug 5, 2021 | Business, Newsletter
According to the US Small Business Administration, small businesses employ half of all private-sector employees in the United States. However, a majority of small businesses do not offer their workers retirement savings benefits. If you’re like many other small...
by ABIP | Aug 5, 2021 | Individuals, Newsletter, Real Estate
If you’re looking to sell your home this year, then it may be time to take a closer look at the exclusion rules and cost basis of your home to reduce your taxable gain on the sale of a home. The IRS home sale exclusion rule allows an exclusion of gain up to...
