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.
Taxes · 3 min read ·
Penalties For Delaying Employment Tax Payments
Nobody likes paying their taxes – perhaps none less so than employment taxes. Simply put, employment taxes are paid generally with every payroll or monthly (periodically a business may pay quarterly) when an amount is…
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Taxes · 2 min read ·
The IRS Seeks to Use Social Media for Tax Cases
With all the recent hubbub about out-of-state sales tax laws, the new year has been packed with tax developments for online sellers lately, as both employers and the government strive to adapt with the digital age. An…
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Business · 2 min read ·
New 2019 Standard Mileage Rate and Conditions
With the new year fast approaching, the IRS has been steadily putting out notices this month announcing the kind of changes we can expect for the 2019 tax year. And the latest, detailing the new standard mileage rate…
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Business · 1 min read ·
The Updated IRS Interest Rates for 2019
The numbers are out for 2019’s first quarter, that begins on January 1st, and the IRS has reported a rise in interest rates. As detailed by the tax service, the new rates will be: • 6% for overpayments, or 5% if a cor…
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Taxes · 2 min read ·
How to Get More Tax Savings for Your Medical Expenses
It’s no secret the IRS has few tax deductions for medical expenses available. For starters, any taxpayer who files under the standard deduction can’t claim any medical tax savings at all, while those who itemize their…
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Taxes · 3 min read ·
6 Ways to Get Ahead of Your Tax Returns
Though 2018’s tax return due date is still several months away, it’s never too early to start preparing your records now to make the job easier on both you and your accountant. Here are 6 simple ways to get ahead on y…
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Taxes · 2 min read ·
Tax Markers of a Partnership
Let’s talk about partnerships, and what constitutes as one for tax purposes. According to the IRS, a partnership is when two or more owners “carry on a trade, business, financial operation, or venture and divide the p…
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Business · 1 min read ·
IRS Confirms New Meal Tax Deduction
Since the new Tax Cuts and Jobs Act (TCJA), there’s been a lot of questions and rumors in the tax community, while the IRS has been hard pressed to clear up some of the confusion. Their latest Notice? Whether or not e…
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Taxes · 2 min read ·
New Employer Credit Available for Paid Family Leave Providers
Yet another provision to the Tax Cuts and Jobs Act (TCJA), employers who traditionally provide paid family leave to their employees, now have a new and improved tax credit available to them. Eligible through the years…
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Taxes · 1 min read ·
New Per Diem Rates for Travel and Business Expenses
Effective as of October 1st, the IRS has released their annual report of the updated per diem rates taxpayers may use for business and travel expenses. Used in the high-low substantiation method and to give taxpayers…
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Payroll · 4 min read ·
7 Steps to Obeying Nanny Tax Laws
Most of us when we think of the word “nanny” picture a twenty-something college student, watching the kids during the weekdays for cash before she heads home for the night. Rarely, if ever, do we think “employee, with…
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Taxes · 2 min read ·
2018 Meal Entertainment Deduction Elimination
Are you a business owner that takes customers or potential clients out for dinner or entertainment? Or do you support your nonprofit organizations locally through their fundraising events? If so, please be aware that…
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