by ABIP | Feb 24, 2023 | About ABIP, News
HOUSTON – abip CPAs & Advisors (abip) a Texas-based tax, accounting, and consulting firm, is pleased to announce that Richard Dyo, CPA, CHFP, has been admitted as an Equity Partner. Richard has over 30 years of knowledge and experience consulting in federal and...
by ABIP | Feb 7, 2023 | Individuals, News, Newsletter, Taxes
Are you wondering if there’s a hard and fast rule about what income is taxable and what income is not? The quick answer is that all income is taxable unless the law specifically excludes it. But as you might have guessed, there’s more to it than that....
by ABIP | Feb 3, 2023 | Individuals, News, Newsletter, Taxes
A taxpayer’s filing status defines the type of tax return form they should use when filing their taxes. Filing status can affect the amount of tax they owe, and it may even determine whether they need to file a tax return at all. As taxpayers get ready for the...
by ABIP | Feb 2, 2023 | Individuals, News, Newsletter, Taxes
When completing a tax return, taxpayers have two options: take the standard deduction or itemize their deductions. Most taxpayers use the option that gives them the lowest overall tax. Due to all the tax law changes in recent years, including increases to the standard...
by ABIP | Feb 1, 2023 | Individuals, News, Newsletter, Taxes
Everyone wants to save money on their taxes, and retirees and older adults are no exception. If you’re 50 or older, here are six tax tips that could help you do just that. 1. Standard Deduction for Seniors If you and your spouse are 65 or older and do not...
by ABIP | Jan 5, 2023 | Accounting, Business, News, Newsletter, Taxes
Here’s what small business owners need to know about tax law changes and inflation adjustments for the year ahead. Standard Mileage Rates In 2023, the rate for business miles driven is 65.5 cents, up 3 cents from the midyear increase setting the rate for the...
