by ABIP | May 24, 2018 | News
Did you know you can exercise some control over your charitable endeavors using a donor-advised fund (DAF)? As the name implies, recommendations are integral to a DAF. First, you contribute to a fund typically managed by an independent sponsoring organization. The...
by ABIP | May 22, 2018 | News
The Tax Cuts and Jobs Act restricts the losses that owners of pass-through entities (including sole proprietors) can currently deduct. For tax years beginning in 2018 through 2025, an “excess business loss” can’t be deducted in the current year. This...
by ABIP | May 15, 2018 | News
If you wish to protect your assets while retaining some control over them, consider an irrevocable trust. Transferring assets to such a trust generally places them beyond your creditors’ reach. And by including a “spendthrift” provision, you can also...
by ABIP | May 10, 2018 | News
They say you’ve got to spend money to make money. But that doesn’t mean business owners should accept high operational costs. Cost control is a formal management technique through which you evaluate operations and isolate activities with excessive...
by ABIP | May 3, 2018 | News
Many companies must eventually decide whether to renew a lease, move on to a different one or buy new (or pre-existing) space. Buying commercial property is a big step. It offers prestige, control and tax advantages, but also comes with high costs, maintenance...
by ABIP | Apr 26, 2018 | News
To be successful, a business must be competitive. Is yours? Here are some ways to assess this: First, examine your operating environment. Anything from severe weather to a sudden change in buying trends could affect competitiveness. Next, identify important tangible...
by ABIP | Apr 19, 2018 | News
For business owners, it may seem impossible to control health care benefits costs. The trick is taking a multipronged approach. For example, don’t rely on vendor-provided communications: Actively interact with employees. Use metrics to analyze benefits...
by ABIP | Apr 12, 2018 | News
IRS examiners use Audit Techniques Guides (ATGs) to prepare for audits, and small business owners can use them, too. Many ATGs target specific industries, such as construction. Others address issues that frequently arise in audits, such as executive compensation and...
by ABIP | Apr 5, 2018 | News
You may have breathed a sigh of relief after filing your 2017 income tax return (or requesting an extension). But if you have years’ worth of receipts, canceled checks and other tax-related records for your small business, you probably want to get rid of what...
by ABIP | Mar 29, 2018 | News
If a company’s deductible expenses exceed its income, generally a net operating loss (NOL) occurs. The upside is tax benefits: If the tax year generating the NOL ended on or before 12/31/17, the NOL can be carried back up to 2 years to generate an immediate tax...
