by ABIP | Apr 1, 2022 | Business, Newsletter, Taxes
As part of the final guidance issued that pertains to the Tax Cuts and Jobs Act of 2017, new rules and limitations are in effect for taxpayers who deduct depreciation for qualified property acquired after September 27, 2017. As a business owner, they could affect your...
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...
by ABIP | Feb 2, 2022 | Business, News, Newsletter
If you’re conscientious about financial reporting, you may already have a sense of your company’s worth, but in some instances, you might need a formal business valuation, such as: Certain transactions: Are you selling your business? Planning an IPO? Need...
by ABIP | Jan 10, 2022 | Business, Individuals, News, Newsletter, Taxes
Starting January 1, 2022, the standard mileage rates for the use of a car, van, pickup, or panel truck are as follows: 58.5 cents per mile driven for business use, up 2.5 cents from the rate for 2021 18 cents per mile driven for medical or moving purposes for...
by ABIP | Jan 6, 2022 | Business, Individuals, News, Newsletter, Taxes
Every year, it’s a sure bet that there will be changes to current tax law, and this year is no different. From standard deductions to health savings accounts and tax rate schedules, here’s a checklist of tax changes to help you plan the year ahead....
by ABIP | Dec 6, 2021 | Business, COVID-19, Individuals, News, Newsletter, Taxes
Tax Credit for Hiring Long-Term Unemployed Workers With many businesses facing a tight job market, employers should know about a valuable tax credit available to them for hiring long-term unemployment recipients and other groups of workers facing significant barriers...
