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 ·
Trump Considering Capital Gains Indexing
With the possibility of a second wave of stimulus checks dwindling, President Donald Trump is looking to other methods to help the economy, including indexing capital gains taxes. Capital gains refers to the profit ma…
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Business · 2 min read ·
IRS Names it's Dirty Dozen for 2020
Each year, the IRS issues their Dirty Dozen tech scams list and the 2020 information has been released. Some items that appear this year have appeared in prior years as well and one of the ones that has continued to b…
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News · 4 min read ·
President Signs PPP Flexibility Act
As you are probably aware, I've been sharing information on the Paycheck Protection Program (PPP) since it's release in April, and updates as they have occurred. The most recent update is the passage of the Paycheck P…
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Business · 3 min read ·
SBA Announces PPP Forgiveness Application
Are you a sole proprietor or business owner who received a Paycheck Protection Program, otherwise known as the PPP, loan? Are you wondering the next steps in order to have your loan forgiven? The SBA has released the…
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News · 2 min read ·
IRS Extends Tax Deadline in Response to COVID-19
In response to the COVID-19 pandemic, the IRS recently announced that the tax deadline to file 2019 returns has been moved from April 15 th , 2020 to July 15 th , 2020. This change was publicized after President Donal…
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Business · 2 min read ·
Help for CA Businesses Impacted by Covid-19
We are dealing with an unprecedented situation. The global spread of a virus affecting how we live and operate our businesses. And as of yesterday, those of us in California were told we should shelter in place in our…
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News · 2 min read ·
Beware of New Social Security Number Scam
According to the IRS, taxpayers should be on the lookout for a new type of social security number phone scam. Recently, con artists have been calling unsuspecting taxpayers and threatening to suspend or cancel their S…
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News · 2 min read ·
California Is Retroactively Seeking Tax for Online Sales
If you are an online merchant, you are likely aware of the Wayfair case, a 2018 ruling wherein the Supreme Court voted that states may charge sales tax for online purchases even if the seller has no physical presence…
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Business · 3 min read ·
New Federal Rule Regarding Who Can Be Exempt From Overtime
The Department of Labor (DOL) has recently undertaken a revision of the Fair Labor Standards Act (FLSA,) which updates the earnings threshold necessary to be exempt from overtime, making 1.3 million workers newly elig…
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Community · 2 min read ·
Why You Need to STOP Charging Your Phone at the Airport
We’ve all been there: you’re in the middle of a long day of travel, perhaps on a layover between flights, and you glance down at your phone: 12% battery. In a panic, you look for the nearest outlet, and are relieved t…
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News · 2 min read ·
IRS Issues New Safe-Harbor Rule for Real Estate
Section 199A of the recently passed Tax Cuts and Job Act (TCJA) establishes a new rule for deducting up to 20% of qualified business income for self-employed individuals. This news has the potential to significantly l…
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News · 2 min read ·
New FICO Calculation Could Improve Your Credit Score
Good news, low credit holders. The Fair Isaac Corporation (FICO) has announced the coming of their new credit score calculation method, iconically named UltraFICO, for this spring. While traditional credit scores are…
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