by ABIP | Mar 1, 2018 | News
The IRS has started releasing refunds for taxpayers who claimed the earned income tax credit and the additional child tax credit. Many of the refunds should arrive in bank accounts or on debit cards this week. The IRS also explained some facts about tax refunds, such...
by ABIP | Feb 22, 2018 | News
Donating to charity can reduce your taxable estate and benefit your favorite organizations. By making donations during your lifetime, you can claim income tax deductions. For your donations to be deductible, they must meet certain IRS criteria. For example,...
by ABIP | Feb 14, 2018 | News
Benchmarking can help your company swim with the big fish without getting gobbled up. It’s the practice of comparing your performance to that of similar businesses to identify strengths and weaknesses. Quantitative benchmarking uses key performance indicators...
by ABIP | Feb 9, 2018 | News
S corporations must comply with strict requirements or risk losing their tax-advantaged status. In an estate planning context, it’s critical that any trusts that will receive S corporation stock through the operation of your estate plan be eligible shareholders....
by ABIP | Feb 6, 2018 | News
Bonus depreciation allows businesses to offset the costs of investing in equipment and other qualified assets more quickly. Claiming bonus depreciation on your 2017 tax return may be particularly beneficial. Why? Deductions save more tax when rates are higher, and...
by ABIP | Feb 1, 2018 | News
Life insurance can offer significant estate planning benefits even if estate tax isn’t a concern for your family. For example, you can use life insurance to replace wealth that’s lost to long term care (LTC) expenses for you or your spouse. Although LTC...
by ABIP | Jan 16, 2018 | News
In today’s increasingly specialized economy, outsourcing has become common. Engaging outside help could cut in-house management expenses by reducing overhead, staffing and training costs. Outsourcing also frees up employees’ time for core tasks and avails...
by ABIP | Jan 9, 2018 | News
Owners of “pass-through” businesses may see some major (albeit temporary) relief under the Tax Cuts and Jobs Act (TCJA) in the form of a new deduction for a portion of qualified business income (QBI). For tax years beginning after Dec. 31, 2017, and before...
by ABIP | Jan 4, 2018 | News
The Tax Cuts and Jobs Act (TCJA) significantly enhances bonus depreciation. You might even be able to benefit when you file your 2017 tax return. Generally, for qualified property placed in service between Sept. 28, 2017, and Dec. 31, 2022, the first-year bonus...
by ABIP | Jan 1, 2018 | News
