by ABIP | May 9, 2019 | News
Life presents us with many choices. A common conundrum for business owners is whether to buy or lease their companies’ equipment. Some still take pride in owning their assets. If you do, work to pass along this dedication to employees. Also, consider enhanced tax...
by ABIP | May 2, 2019 | News
To save money, your business may treat workers as independent contractors, rather than employees. Be aware that the IRS looks for businesses that improperly classify workers. It’s best to handle independent contractors so the relationships comply with tax law. This...
by ABIP | Apr 24, 2019 | News
Have you recently started a new business or are you contemplating starting one? Keep in mind that not all start-up expenses can be deducted on your federal tax return right away. Some expenses probably must be amortized over time. You might be able to make an election...
by ABIP | Apr 17, 2019 | News
You probably spend a bundle “wining and dining” customers, vendors and employees. Under current tax law, entertainment expenses are no longer deductible. But you can still deduct 50% of the cost of business-related food and beverages, if you meet certain requirements....
by ABIP | Apr 10, 2019 | News
If you’re getting a divorce, you know it’s a highly stressful time. But if you’re a business owner, tax issues can complicate matters more. For example, you can generally divide most assets, including business ownership interests, between you and your soon-to-be...
by ABIP | Apr 3, 2019 | News
If your company is merging with or acquiring another business, it’s important to understand how the transaction will be taxed. For tax purposes, a transaction can basically be structured in two ways: stock (or ownership interest) or assets. For tax and nontax reasons,...
by ABIP | Mar 27, 2019 | News
Here are a few key tax deadlines for businesses during Q2 of 2019. APR. 1: File with the IRS if you’re an employer that will electronically file 2018 Forms 1097, 1098, certain Forms 1099 and/or Form W-2G. APR. 15: If you’re a calendar-year corporation, file a 2018...
by ABIP | Mar 20, 2019 | News
Strategic planning comprises two primary tasks: establishing goals and achieving them. The key to that all-important second task is establishing an implementation plan. First, appoint a leader to communicate and champion your objectives. Next, establish teams of...
by ABIP | Mar 13, 2019 | News
If you own a business and don’t have a tax-advantaged retirement plan, it’s not too late to establish one and reduce your 2018 tax bill. A Simplified Employee Pension (SEP) can be set up for 2018 as long as you do it before your 2018 income tax return filing deadline....
by ABIP | Mar 6, 2019 | News
As you develop your succession plan, you’ll need to consider how to mitigate the loss of pure know-how that will occur when you step down. One way is to implement a knowledge management strategy. This is a formal process of treating knowledge as a valuable company...
