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.
Business · 2 min read ·
The Value of Contingency Plans
Many businesses were hit hard during the COVID-19 pandemic and are still trying to recover from it. A lot of these companies were caught without some sort of contingency plan in place for this type of emergency situat…
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Business · 3 min read ·
Sales Tax Rates Reached 10-Year High in 2020
According to Accounting Today , sales tax has increased to levels that haven't been seen in over ten years. This means that during the pandemic, many companies had to collect even more tax revenue from online shopping…
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Business · 2 min read ·
Senators Propose to Make Work Opportunity Tax Credit Permanent
The Work Opportunity Tax Credit (WOTC) is currently in the works to become a permanent part of the tax code and is being led by a bipartisan group of Senate lawmakers. It is offering employers tax credits per worker d…
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Business · 3 min read ·
Labor Compliance in the Workplace
https://youtu.be/KpsU7gt4uf8 The Pandemic brought about different working scenarios than many companies have experienced in the past, and along with these changes come the responsibility of making sure labor laws are…
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Business · 2 min read ·
IRS Provides Cafeteria Plan Relief for the Pandemic
Due to the continuing COVID-19 Pandemic, Congress had allowed for special rules regarding health FSAs (Flexible Spending Arrangements) under Section 125 Cafeteria Plans. They have also extended these to dependent care…
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Business · 2 min read ·
First-Time Abatement and Reasonable Cause Defense
https://youtu.be/WBHfvLB8Z0k Are you an individual or business owner behind on tax payments to the IRS? Has the COVID-19 Pandemic negatively impacted your income and ability to pay your liabilities? You may be able to…
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Business · 7 min read ·
2021 California Workplace Laws
No matter how you started 2020 and with what goals, those were likely greatly derailed once COVID started. Not only did it derail your plans, but the whole world. Numbers showed that more than 3.7 million people in Ca…
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Business · 6 min read ·
6 Ways to Come Back From the Pandemic With a Stronger Team
This past year we have all faced many things that have changed how we work and do business and we have had to learn how to rapidly adapt and change our business practices in order to keep up. While entrepreneurs have…
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COVID-19 · 1 min read ·
COVID College Grants are Not Taxable Income
https://youtu.be/vmVeoUs57so Are you a college student (or the parent of one) wondering how financial aid is going to affect your taxes? Are you concerned COVID grants are taxable income or will affect your future fin…
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Business · 1 min read ·
Families First Coronavirus Response Act
https://youtu.be/LHpDoASKcIY Are you an employer with workers who may need to take time off due to exposure to the Coronavirus, needing immunizations, or having to care for family members? The Families First Coronavir…
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Business · 2 min read ·
How COVID Has Changed Our Perspective on Wealth and Finances
According to CPA Practice Advisor, Charles Schwab did a survey called, 2020 Modern Wealth Survey , in which they analyzed the wealth, spending, saving, and investing of Americans. They surveyed 1,000 people in January…
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Business · 2 min read ·
Responsible Party
https://youtu.be/mahedDf7-ao COVID-19 has had a serious impact on cashflow for many business owners. And they have had to put off paying some operating expenses. However, payroll taxes and sales taxes are considered t…
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