by Lori Bowden | Apr 1, 2025 | Trusts
In this webinar, Teresa Ferruzzo, CPA, abip partner, discusses a crucial financial planning tool for families who care for a loved one with special needs: Special Needs Trusts (SNTs). A Special Needs Trust is an essential mechanism to ensure that a family member with...
by Lori Bowden | Mar 31, 2025 | Individuals, Newsletter, Taxes
Whether you’re a casual or professional gambler, your winnings are taxable. However, the Treasury Inspector General for Tax Administration reports that gambling income is vastly underreported. Failing to report winnings accurately can lead to back taxes, interest and...
by Lori Bowden | Mar 30, 2025 | Individuals, Newsletter, Trusts
The term “sandwich generation” was coined to describe baby boomers caught between caring for their aging parents and their children. Today, it most commonly applies to Generation Xers and older Millennials. If you’re caught in the middle, it might be time for honest...
by ABIP | Mar 4, 2025 | Newsletter, Taxes
If you own or manage a business with employees, you could be personally responsible for paying a harsh tax penalty. It’s called the Trust Fund Recovery Penalty (TFRP). It applies to the mishandling of Social Security and income taxes that must be withheld from...
by ABIP | Mar 3, 2025 | Business, Newsletter
After successfully navigating the start-up phase, your business has a strong foundation for growth. At the growth stage, business and financial advisory services become essential. Focus on these two key areas to elevate your company to the next level. 1. Financial and...
by ABIP | Mar 2, 2025 | Individuals, Newsletter, Taxes
If you’re preparing to file your 2024 federal income tax return and your tax bill is higher than you’d expected or your tax refund is smaller than you’d hoped, there might still be an opportunity to change it. If you qualify, you can make a deductible contribution to...
by ABIP | Mar 1, 2025 | Business, Fraud, Newsletter
Business owners, beware. Identity theft is a growing threat that can cripple your business or shut it down forever. Signs of business identity theft include the inability to file a tax return because a return has already been filed using the business ID number, a...
by Lori Bowden | Feb 4, 2025 | Business, Newsletter
Tax-saving benefits are generally available when your business puts newly acquired qualifying assets into service. Under Section 179 of the tax code, companies can take substantial depreciation deductions, subject to various limits adjusted annually for inflation....
by Lori Bowden | Feb 3, 2025 | Business, Individuals, Newsletter, Taxes
Working from home isn’t new, especially for self-employed people. But during the height of the pandemic, millions of jobs were moved from employers’ premises to employees’ private homes. Many continue working from home and wonder if they qualify for the home office...
by Lori Bowden | Feb 2, 2025 | Individuals, Newsletter, Taxes
With so many people working remotely, it’s become more common to think about moving to another state, perhaps for better weather, to be closer to family or to reduce living expenses. Retirees also look at out-of-state moves for many of the same reasons. If you’re...
