Are your retirement savings secure from creditors?

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 protection available for IRAs depends in part on whether the owner is involved in bankruptcy proceedings.…

Choosing the best way to reimburse employee travel expenses

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. But the expenses must be legitimate and the reimbursements must comply with IRS rules, generally by using…

You don’t have to take business insurance costs sitting down

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 aren’t close to overloading, and regularly test all fire prevention systems. Check high-traffic areas for slip-and-fall…

Business owners: Put your successor in a position to succeed

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, a formal training program. Have your successor work in each business department or area. Also, encourage…

Help is Available to All Affected by Harvey

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 support one another to overcome and…

Disaster Relief Payments

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 payroll taxation. The law was originally enacted in 2001 as relief to victims of…

Findling, Milam & Pyle has Merged with ABIP, PC

The deeply rooted San Antonio CPA practice of Findling, Milam & Pyle has merged into the San Antonio and Houston-based firm ABIP, PC; effective January 1, 2016. Established in 1964 by Willard, Robert and Jerry respectively; Findling, Milam & Pyle currently has 14 professionals and works with a diverse client base primarily composed of closely-held…