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 ·
Can You Claim Your Parents as Dependents?
With so many millennials moving back home with mom and dad, the question of whether or not adult children living with their parents can be claimed as dependents is a hot topic. On the other side of the generational di…
Read article
Taxes · 5 min read ·
2017 Filing Info from the IRS Tax Commissioner
IRS Commissioner John Koskinen made some comments a few weeks ago regarding the 2017 tax filing season. Here is information he shared: Last year, the IRS issued almost 111 million refunds. That amounted to about 73 pe…
Read article
Taxes · 3 min read ·
New Scams Targeting Taxpayers
Tax season starts next month. Criminals deceive many people. They start by stealing information, and ultimately money from them. Identity theft and refund fraud scams are common. Increasingly, there are schemes to swi…
Read article
Taxes · 4 min read ·
Tax Deduction Guidelines for Charitable Giving
It's close to year-end, and the time that people and businesses make final contributions to organizations. It is important to keep in mind some key tax provisions that apply to these donations, especially contribution…
Read article
Business · 3 min read ·
Private Debt Collectors for your Taxes
Close to 20 million people owe a combined total of $400 billion in back taxes to the IRS. Several million taxpayers have payment arrangements, and another 7 million people owe tax payments. In the latter part of 2015,…
Read article
Taxes · 2 min read ·
IRS Tests Relaxing Installment Agreement Rules
Today I saw an article in Accounting Today written by Jim Buttonow, CPA, regarding a new program the IRS is testing to allow people to more easily set up payment plans for their tax debt. An installment agreement is b…
Read article
Business · 2 min read ·
The Home Office Deduction - Calculating the Deduction
In the last post, we discussed what is allowable to be considered for the home office deduction. You can read that post at www.abandp.com/the-home-office-deduction-what-qualifies/ . Today we'll discuss how to determin…
Read article
Business · 2 min read ·
The Home Office Deduction - What Qualifies?
If you use part of your home for business purposes, then you are likely eligible for a home office deduction. You could save on taxes, rent/mortgage, utilities, etc and might also be eligible for a larger mileage dedu…
Read article
News · 3 min read ·
Church Tax Fraud Embezzles $4.8 Million in Refunds
When we think of tax fraud, we often imagine cyber-criminals who steal our information without us realizing that our identity has been stolen. Hardly do we ever imagine we will meet our aggressor face-to-face. It is c…
Read article
Business · 3 min read ·
7 Business Tax Deductions to Consider
As the year starts winding down to an end, we recommend business owners to start looking over their expenses for the year for reporting purposes and to determine the best way to reduce their tax liability. If you are…
Read article
News · 2 min read ·
Airbnb to Collect Los Angeles Lodging Tax
Have you heard of Airbnb, a service listing vacation rentals all over the world? If you have used it, you probably noticed you didn't have the same taxes due as if you had been in a hotel. However, if you'll be stayin…
Read article
Business · 4 min read ·
Retirement Errors to Avoid for Small Business Owners
As Americans get into their senior years, many find that they do not plan their finances as they should have. This may mean that they'll have to retire later, if at all, leaving them ill-prepared for the hardships tha…
Read article
Ready when you are
Ready for the books to feel lighter?
Start with a simple conversation. We’ll learn what you need and decide together whether we’re the right fit.
Start a conversation