The AB&P journal
Useful answers for the decisions owners make every week.
Clear guidance on the financial, payroll, and people questions that tend to become urgent when no one explains them early.
News · 3 min read ·
Employment Taxes and the Trust Fund Recovery Penalty
When payroll is run, taxes are withheld from the employees for their portion of employment taxes including federal income tax, Social Security, Medicare, and any state taxes required. When these taxes are withheld fro…
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News · 2 min read ·
Saying Goodbye to My First Client
Friday I said goodbye to Michelle. She passed away on April 5, 2013 at the young age of 45 due to cancer. I have to say I'm still in shock that she is gone. She was a vibrant woman who brought joy and laughter to thos…
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News · 3 min read ·
Taxability of To Go Food Items
In the last post I began discussing the taxabiity of restaurant to-go sales and the 80/80 rule. To read this information, see /?p=1345. This post will discuss the taxability of to go items if you don't fall under the…
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News · 3 min read ·
Restaurant Sales Tax (80/80 Rule) - CA
The last post answered some questions in regard to sales tax issues in general. This post will discuss tax issues related to the food and beverage industry. Please note that these rules are from the CA State Board of…
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News · 3 min read ·
Sales Tax Answers
Do you own a business that collects/remits sales tax? Are you often confused by the rules for what is taxable or not taxable in CA? Here are a few answers to frequently asked questions. 1. What is taxable? Retail sale…
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News · 3 min read ·
Dirty Dozen Tax Schemes
The Dirty Dozen listing, compiled by the IRS each year, lists a variety of common scams taxpayers can encounter at any point during the year. But many of these schemes peak during filing season as people prepare their…
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News · 3 min read ·
Principal For the Day
Two weeks ago I participated in the Torrance Chamber/Torrance Unified School District collaboration Principal For the Day event where business owners worked with school principals to see the ins and outs of what happe…
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News · 3 min read ·
The Catalyst Behind the Start of My Business Is Gone
Friday night I opened my Facebook page to find that someone had passed away from cancer and I was shocked. I hadn't known she was sick, but looking at her page, I saw that the news was recent. A support page was creat…
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News · 2 min read ·
Get a W-9 Form From Vendors Before You Write Your First Check
As you may be aware, as a business owner, you are required to file 1099 forms each year for anyone subject based on the IRS guidelines. In order to do so, you must have received a W-9 form from the vendor. This form w…
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News · 2 min read ·
Helping the Elderly
Although it has not been a main focus of my business, I have a few seniors I assist with their bill paying and account reconciliation. Each has a different reason for using my service based on their situation (not goi…
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News · 3 min read ·
It's the End of the First Quarter Already?
Wow, this year is really flying by! I don't know about you, but I can't believe it's already April. Where did the time go? In our industry, we are always busy this time of year, so it is to be expected that we'd have…
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News · 2 min read ·
Why You Should Have a Business Plan
A business plan helps you know where you want to go and determine how you are going to get to the levels you anticipate achieving in the next 3-5 years. Things to include in your business plan should be: Mission State…
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