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.
Community · 2 min read ·
Give More, Tax-Free: Expanded IRA Charitable Donation Limits for 2024
If you're an IRA owner aged 70½ or older, there's great news—you can donate up to $105,000 tax-free to qualified charities in 2024. That’s an increase from the previous limit of $100,000, offering more opportunities t…
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Business · 2 min read ·
Small Businesses and Consumers Clash Over Payment Preferences
New research from Xero reveals a growing disconnect between U.S. small businesses and consumers when it comes to payment preferences. While 89% of consumers prefer to pay with credit or debit cards, nearly 30% of smal…
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Video · 3 min read ·
6 Key Strategies for Year-End Accounts Receivable Management
Are you an employer who invoices customers and receives payment at a later date? You may want to review your accounts receivable and make changes if the balance is higher than you’d like, especially if amounts are pas…
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Software · 2 min read ·
AprilPro: A New AI-Driven Tax Solution for Complex Filings
Tax solutions provider April has launched AprilPro , a cutting-edge solution designed to simplify complex tax situations such as K-1s, 1099s, alternative minimum tax (AMT) calculations, and real estate investment fili…
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IRS · 2 min read ·
IRS Finalizes New Rules for Inherited IRAs, Ending the Stretch IRA Strategy
The IRS has officially ended the possibility of extending ("stretching") the distribution of inherited IRAs for most non-eligible beneficiaries. Under the new rules, beneficiaries who inherited IRAs in 2020 or later m…
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Video · 3 min read ·
Important Updates to California Employment Law Effective January 1, 2025
Starting January 1, 2025, several key changes to California employment laws will take effect. If you have any California employees, these updates apply to your business, regardless of size, unless otherwise specified.…
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Community · 3 min read ·
Key Social Security Changes for 2025: What Retirees Need to Know
If you're retired or planning to retire soon, Social Security will likely play a significant role in your financial future. With over 72.5 million Americans relying on Social Security benefits, staying informed about…
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IRS · 4 min read ·
IRS Issues Warning on Rising Impersonation Scams Targeting Seniors
As part of the ongoing efforts to protect the senior community, the Internal Revenue Service (IRS) has issued a warning about the increasing threat of impersonation scams targeting older adults. These scams involve fr…
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News · 1 min read ·
Protecting Against Tax Scams: Be Vigilant
As digital threats evolve, we face increasing risks from scams, even outside of the traditional tax season. It’s crucial to stay informed and build defenses against these cyberattacks. Some Key Issues Include: E-Signa…
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Business · 7 min read ·
State Minimum Wage Updates for 2025: What Employers Need to Know
Is your business prepared for the 2025 minimum wage changes? With wage increases taking effect on January 1, 2025, staying informed is essential to ensure compliance and manage labor costs effectively. The table below…
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IRS · 2 min read ·
IRS Warns Against New Clean Energy Tax Credit Scam
The IRS has alerted taxpayers about a new scam involving the purchase of clean energy tax credits. Fraudulent tax return preparers are misrepresenting the rules for claiming these credits under the Inflation Reduction…
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Video · 1 min read ·
Mastering Productivity: Escaping Common Traps as a Sole Proprietor
Running your own business comes with immense freedom, but it also brings the challenge of staying productive without anyone else keeping you on track. Learning to recognize and overcome common productivity traps can m…
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