by ABIP | Feb 27, 2019 | News
Pass-through entity owners: Beware the Ides of March. Shakespeare’s words don’t apply just to Julius Caesar; they also apply to calendar-year partnerships, S corporations and limited liability companies treated as partnerships or S corporations for tax purposes. Why?...
by ABIP | Feb 20, 2019 | News
Business interruption insurance generally provides cash flow to cover revenues lost and expenses incurred while normal operations are suspended because of an applicable event. But submitting a claim can be time-consuming and requires preparation. First, notify your...
by ABIP | Feb 13, 2019 | News
Limited liability company (LLC) members commonly claim that their distributive shares of LLC income (after deducting compensation for services in the form of guaranteed payments) aren’t subject to self-employment (SE) tax. But the IRS has been seeking back taxes and...
by ABIP | Feb 7, 2019 | News
As a business evolves, it will encounter the need to build credibility with outside parties, such as investors and lenders, and to make well-informed strategic decisions. In short, financial statements are a necessity. Typical components are an income statement, a...
by ABIP | Jan 29, 2019 | News
A good marketing plan should be like a network of well-paved, clearly marked roads shooting out into the world and leading back to your company. But a business can get stuck in the mud trying to build these thoroughfares. For example, many companies use the same,...
by ABIP | Jan 24, 2019 | News
A variety of tax-related limits affecting businesses are annually indexed for inflation, and many have increased for 2019. For example, the Section 179 expensing limit has gone up to $1.02 million from $1 million. Also up are the income-based phase-ins for certain...
by ABIP | Jan 16, 2019 | News
If your business is considering upgrading its facility, or moving to or constructing a new one, be prepared to encounter “smart” buildings. A smart building is one equipped with sensors that gather and track information about energy usage. With this data, the...
by ABIP | Jan 9, 2019 | News
There aren’t too many things businesses can do after a year ends to reduce tax liability for that year. But you might be able to pay employee bonuses for 2018 in 2019 and still deduct them on your 2018 tax return. To be eligible for this favorable tax treatment, you...
by ABIP | Jan 2, 2019 | News
If you own a business, an exit strategy should be part of your tax planning so that taxes don’t trip you up when you retire or leave the business for some other reason. An exit strategy is a plan for passing on responsibility for running the company, transferring...
by ABIP | Dec 26, 2018 | News
Most business owners would agree that selling to existing customers is easier than finding new ones. Yet many companies squander potential sales to long-term customers because they don’t create awareness of all their products or services. Learn everything you can...
