by ABIP | Oct 28, 2021 | Individuals, News, Newsletter, Taxes
Individual Taxpayers: Year-end Tax Planning Strategies With the end of the year fast approaching, now is the time to take a closer look at tax planning strategies that could reduce your tax bill for 2021. General Tax Planning Strategies General tax planning strategies...
by ABIP | Oct 6, 2021 | Accounting, Individuals, News, Taxes
Marginal vs. Effective Tax Rates Understanding marginal and effective tax rates are important for tax planning purposes; however, many taxpayers don’t fully understand the differences. Let’s take a closer look: Marginal Tax Rate The United States has a...
by ABIP | Oct 5, 2021 | Accounting, Individuals, News, Newsletter, Taxes
E-Signatures Extended for Many Tax Forms To help reduce the burden to taxpayers brought about by the coronavirus pandemic, the use of electronic or digital signatures on certain paper forms they normally cannot file electronically has been extended through December...
by ABIP | Oct 4, 2021 | Business, Individuals, News, Newsletter, Taxes
If You Receive an IRS Letter or Notice The IRS sends millions of letters and notices to taxpayers for a variety of reasons. Many of these letters and notices can be dealt with without calling or visiting an IRS office. Here’s what you need to know about IRS...
by ABIP | Oct 1, 2021 | Accounting, Business, Individuals, News, Newsletter, Taxes
Use These Strategies To Pass on Wealth to Heirs Individuals with significant assets should take advantage of proven tax strategies such as gifting and direct payments to educational institutions to transfer wealth to heirs tax-free, as well as minimize estate taxes....
by ABIP | Aug 5, 2021 | Individuals, Newsletter, Taxes
An important part of tax planning is keeping good records. Having an organized recordkeeping system makes it easier to file a tax return or understand a letter from the IRS. Here are some tips: Good Recordkeeping Helps Taxpayers: Identify sources of income. Taxpayers...
