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 · 2 min read ·
IRS Increases Interest Rates for Q2 2022
The Internal Revenue Service has announced that the Q2 interest rates will be increasing effective April 1, 2022 through June 30, 2022. These rates are determined on a quarterly basis by the IRS. They are set by statu…
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Business · 3 min read ·
The Zero-Trust Philosophy in Cyber Security
Gone are the days of firewalls and single-factor authentication methods. Due to the riskier cyber environment that we live in, business owners should develop stronger, more reliable security measures to protect their…
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Taxes · 2 min read ·
State Tax Return Deadlines for 2022
https://youtu.be/4vQrYCz_3jA The due date for most Americans to file their federal return this year is April 18th, 2022. A majority of states have their own income tax reporting requirements and attempt to make their…
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Business · 3 min read ·
Tax Deduction Opportunities for the Self-Employed
There are many valuable tax deductions available to self-employed entrepreneurs. As a small business owner, it is important to take advantage of these opportunities to help boost your income and improve your bottom li…
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Business · 2 min read ·
IRS Now Requires E-Filing for Form 1024
Beginning in 2022, the Internal Revenue Service has enhanced its e-file capabilities so that organizations can now file Form 1024 , “Application for Recognition of Exemption Under Section 501(a) or Section 521 of the…
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Community · 3 min read ·
Reflecting on Your Goals From 2021
As business owners, it is important to take time to self-reflect on a personal and professional level so that 2022 can be one of the best years for your company. It is specifically important to look back on your prior…
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Business · 3 min read ·
Changes to Taxation on Services
As our country shifts from a manufacturing based economy to a service-based economy, more and more states have begun implementing taxation on select services. This year we could see an increase in taxation on services…
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Business · 4 min read ·
Being Prepared for Change in Overtime Eligibility
There are approximately 43 million workers in the U.S. that are considered exempt under the Fair Labor Standards Act (FLSA), which means these individuals are not entitled to overtime pay when they work over 40 hours…
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Taxes · 2 min read ·
Electronic Filing of K-2 and K-3 Forms
The Internal Revenue Service announced in December that they will begin offering the ability to electronically file the new Schedules K-2 and K-3 for the 2021 tax year. This is a new requirement from the IRS for those…
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Business · 4 min read ·
2022 Requirements for an SBA Loan
If you are currently searching for ways to fund your business, then you may be aware of SBA loans. For those who are not familiar, an SBA loan is a government program through a commercial lender that helps finance sta…
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Business · 3 min read ·
Remote Work and Tax Compliance Risks
COVID-19 continues to have a significant impact on how business is conducted for employers. One of the biggest changes we have seen is the shift from working in an office setting to having an entire remote workforce.…
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Business · 3 min read ·
The Important Lesson of Slowing of Down
Prior to the pandemic, it seemed like figuring out a good work-life balance was a constant struggle for many business owners. Between having too many tasks to complete to having too many clients to work with, there ne…
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