by ABIP | Dec 11, 2019 | News
Here are a few key tax-related deadlines for businesses during Q1 of 2020. JAN. 31: File 2019 Forms W-2 with the Social Security Administration and provide copies to employees. Also provide copies of 2019 Forms 1099-MISC to recipients and, if reporting nonemployee...
by ABIP | Dec 4, 2019 | News
Your lender may not be top of mind as you create a succession plan, but it’s a pertinent party. One key issue that lenders want a succession plan to address is, simply, who’s your successor? Follow a thoughtful process to choosing the right person then set a timeframe...
by ABIP | Nov 20, 2019 | News
If your company needs to “remediate” or clean up environmental contamination, the expenses involved can be tax deductible. Unfortunately, every type of environmental cleanup expense cannot be currently deducted. Some cleanup costs must be capitalized. For example,...
by ABIP | Nov 6, 2019 | News
Managing payroll is a laborious task for small businesses. But it’s critical to withhold the right amount of taxes from employees and pay them over to the federal government on time. If you don’t, you could be hit with the Trust Fund Recovery Penalty, also known as...
by ABIP | Oct 30, 2019 | News
The right entity choice can make a difference in the taxes you owe for your business. Although S corporations can provide substantial tax advantages over C corporations in some situations, there are potential tax problems you should assess before deciding to convert...
by ABIP | Oct 23, 2019 | News
ABIP CPAs & Advisors is proud to welcome Senior Tax Manager Mia Ramirez-Powell and Tax Manager Amanda Grantham. At ABIP, Amanda and Mia will focus on federal and multistate income tax compliance, IRS & state tax controversy, multistate sales & use,...
by ABIP | Oct 23, 2019 | News
Is your business depreciating over 30 years the entire cost of constructing the building that houses your operation? If so, consider a cost segregation study. It may allow you to accelerate depreciation deductions on certain items, thereby reducing taxes and boosting...
by ABIP | Oct 16, 2019 | News
Merging with or acquiring another company is one of the best ways to grow rapidly. But you’ve got to weigh the potential advantages against the risks of such a move. An acquisition might enable your business to expand into new geographic areas or seize new customer...
by ABIP | Oct 9, 2019 | News
Employers must pay federal unemployment tax on amounts up to $7,000 paid to each employee as wages during the year. The tax rate is 6% but it can be reduced by a credit for contributions paid into state unemployment funds. Typically, the more claims made against a...
by ABIP | Oct 8, 2019 | News
abip Advisors is proud to announce that Anthony DeBenedictis has joined the firm as a Principal. Anthony graduated from California State University, Chico with a Bachelor of Science in Business Administration with options in Finance & Strategic Management and a...
