by Lori Bowden | Jun 4, 2025 | Accounting, Business, Newsletter
The accounting method your business uses to report income for tax purposes, either cash or accrual, can significantly impact your tax bill. While the cash method can offer tax-saving opportunities, the accrual method may in some cases be more appropriate or even...
by Lori Bowden | Jul 2, 2024 | Accounting, Newsletter, Taxes
As rents continue to rise in many areas, you may decide to help your financially challenged family members by renting a property to them at a discount. But this can lead to the loss of significant tax deductions. Here’s a look at the tax treatment that applies...
by ABIP | Dec 15, 2023 | Accounting, Fraud, News, Newsletter, Taxes
Starting January 1, 2024, many companies will need to follow the Corporate Transparency Act (CTA), established under the National Defense Act in 2021. This Act requires these companies to reveal information about people who own or control them, known as Beneficial...
by ABIP | Dec 4, 2023 | Accounting, Individuals, Newsletter, Taxes
Your business can attract and retain employees by providing education benefits that enable team members to improve their skills and gain additional knowledge, all on a tax-advantaged basis. Here’s a closer look at some education benefits options. Educational...
by ABIP | Nov 7, 2023 | Accounting, Business, News, Newsletter, Taxes
Is your business having trouble collecting payments from clients or vendors? You might be able to claim a bad debt deduction on your tax return. But if you hope to take the deduction on your 2023 return, you’ll have to get busy, because you must be able to show that...
by ABIP | Nov 7, 2023 | Accounting, Business, News, Newsletter
Recently, the IRS halted processing of claims for the Employee Retention Credit (ERC), due to a high volume of fraudulent claims. The moratorium is through at least the end of 2023. ERC claims already filed are now subject to longer processing, including heightened...
