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 · 3 min read ·
The Future of Work from Home
Will working from home remain a norm for companies after the pandemic? According to CPA Practice Advisor, the answer is yes. They reported that business owners responding to a recent survey conducted by AICPA said tha…
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Business · 1 min read ·
Payroll in a Disaster
https://youtu.be/owekipkN-gU Are you a business owner that has employees? Are you prepared to pay them in the event of a disaster? Many business owners don't even have a disaster plan in place, but if they do, it's of…
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Business · 2 min read ·
What You Need to Know About New IRS Stimulus Tax Breaks
Congress passed the COVID-19 Economic Relief Bill on December 17 th 2020 in light of the ongoing coronavirus crisis. The law includes a variety of financial assistance for both citizens and small businesses. Because t…
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Business · 2 min read ·
What is in the New ABLE Act Regulation?
Background on the ABLE Act In 2014, the Achieving a Better Life Experience (ABLE) Act was adopted by the IRS. This Act made it possible for states to establish tax-advantaged savings programs for individuals with disa…
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Business · 2 min read ·
Hiring Children in Your Business
https://youtu.be/NFH7OJEKyS8 Are you the owner of a sole proprietorship or single member LLC, or involved in a partnership with your spouse? If so, and your children are biological for you and your spouse of a partner…
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Taxes · 3 min read ·
What is the Statute of Limitations on Your Taxes?
Determining the statute of limitations (SOL) on your taxes can be deceptively complicated. Luckily, in their recent article “How the IRS Determines Statute of Limitations on Collections,” CPA Practice Advisor outlined…
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Business · 2 min read ·
Taxation of Lawsuit Settlements
Tax protocol is complex and unclear surrounding lawsuit settlement funds. Payments received from legal proceedings are usually taxable, and funds used in the legal process (such as attorney fees) are often not deducti…
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Business · 1 min read ·
IRS Does Not Give Blanket Forgiveness
https://youtu.be/wIFXnAezZrA Are you an entrepreneur who's been struggling to keep up with your income tax payments? Are you thinking you're still going to have a problem in 2021? Many are used to the IRS offering bla…
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Business · 2 min read ·
Small Business Owners Concern with Tax Nexus Laws for 2020 W2s
As 2020 comes to a close, many small business owners are concerned about the complexities of filing their tax returns after a significant shift in their business operations and workforce distribution. We’ve already co…
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Business · 2 min read ·
“Marriage Penalty” Update for 2020 Taxes
Recently there have been some developments regarding so-called “marriage penalty” that some couples experience when filing taxes. This penalty occurs when spouses that have similar gross incomes pay more in taxes when…
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Business · 1 min read ·
Business Licenses
https://youtu.be/REZtEqAWw0I Are you an entrepreneur operating a business? Are you aware that you will have a business license that most likely needs to be filed in the next month or two in order to operate in complia…
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Business · 3 min read ·
Small Business Owners Turning to Different Financing Options Amidst Pandemic
Small business owners trying to keep their companies afloat amidst the Coronavirus pandemic and accompanying economic downturn are looking for funds wherever they can find them. According to a recent article by CPA Pr…
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