by ABIP | Oct 27, 2017 | News
If you’re charitably inclined but concerned about having sufficient income to meet your needs, a charitable remainder trust (CRT) may be the answer. In a nutshell, you contribute stock or other assets to an irrevocable trust that provides you with an income...
by ABIP | Oct 27, 2017 | News
The strength of your business financials, both now and in the future, is important. One fundamental way of making your cash flow statement shine is to minimize inventory so you have just enough to fulfill demand. Taking stock of, and perhaps cutting back on, excess...
by ABIP | Oct 18, 2017 | News
If you own life insurance policies at your death, the proceeds will be included in your estate. The way around this problem is to not own the policies when you die. Ownership by your children can be a good option when your primary goal is to pass wealth to them....
by ABIP | Oct 18, 2017 | News
Regular valuations are a must for every business owner developing a succession plan. But the valuation process can involve a variety of hard-to-see issues. For example, it can be tempting to minimize a business’s value to reduce possible estate tax liability in...
by ABIP | Oct 4, 2017 | News
A primary goal of estate planning is asset protection. If you have significant assets in IRAs and other retirement plans, it’s important to understand the extent to which those assets are protected against creditors’ claims. For example, the asset...
by ABIP | Oct 1, 2017 | News
Reimbursing employee travel expenses can provide tax benefits to both your business and the employee. Your business can deduct the reimbursements (subject to a 50% limit for meals and entertainment), and they’re excluded from the employee’s taxable income....
by ABIP | Sep 25, 2017 | News
Insurance is a risk management imperative for businesses. But owners don’t have to take high coverage costs sitting down. Stay on top of facilities maintenance and constantly strive to improve worker safety. For example, have an electrician ensure circuits...
by ABIP | Sep 15, 2017 | News
Transitioning your company to a successor means becoming a mentor. As such, you’ll have to communicate clearly, be patient and know what you’re trying to accomplish. For starters, identify various ways to pass along your knowledge. Consider, for instance,...
by ABIP | Sep 11, 2017 | News
Help is Available to All Affected by Harvey To all those who are currently being effected by the devastation that Hurricane Harvey has brought upon our great state, ABIP would like you to know we are here for you. When we are faced with such adversity, we must all...
by ABIP | Sep 7, 2017 | News
Disaster Relief Payments In light of Hurricane Harvey, many employers are looking for ways to assist employees that were affected by the storm. Internal Revenue Code Section 139 allows an individual to exclude qualified disaster relief payments from gross income and...
