by ABIP | Jul 8, 2022 | Accounting, Individuals, News, Newsletter
A hobby is any activity that a person pursues because they enjoy it and with no intention of making a profit. In contrast, people operate a business with the intention of making a profit. However, many people engage in hobby activities that turn into a source of...
by ABIP | Jun 1, 2022 | Accounting, Business, Newsletter
Common Small Business Budgeting Errors to Avoid When creating a budget, it’s essential to estimate your spending as realistically as possible. Here are five budget-related errors commonly made by small businesses and some tips for avoiding them. Not Setting...
by ABIP | Apr 5, 2022 | Accounting, Newsletter, Taxes
As a reminder, taxpayers have the right to pay only the amount of tax legally due, including interest and penalties. They also have the right to have the IRS apply all tax payments properly. This is one of 10 fundamental rights known collectively as the Taxpayer Bill...
by ABIP | Apr 3, 2022 | Accounting, News, Newsletter, Taxes
As the April 18th tax deadline quickly approaches, last-minute tax filers should make sure they have all their documents before filing a tax return. You should have received a Form W-2, Wage and Tax Statement, from each of your employers for use in preparing your...
by ABIP | Apr 2, 2022 | Accounting, Business, Newsletter
Cash flow is the lifeblood of every small business but many business owners underestimate just how vital managing cash flow is to their business’s success. In fact, a healthy cash flow is more important than your business’s ability to deliver its goods and...
by ABIP | Mar 4, 2022 | Accounting, Business, Taxes
New Requirements for R&D Credit The IRS recently shared it receives thousands of R&D claims for credits in the hundreds of millions of dollars from corporations, businesses, and individual taxpayers. Claims for the research credit under Section 41 of the Tax...
