by ABIP | Jul 27, 2018 | News
Some common deductions for businesses are meal (generally 50%), vehicle and travel expenses. Deductibility depends on a variety of factors, but proper documentation is one of the most critical. Following some simple steps can help ensure your deductions will pass...
by ABIP | Jul 19, 2018 | News
The income tax basis of inherited property is prohibited from exceeding the property’s fair market value as determined for estate tax purposes. Why does this matter? It prevents beneficiaries from arguing that the estate undervalued the property and, therefore,...
by ABIP | Jul 12, 2018 | News
Today’s accounting software can perform adequately for years, but improved features are being created all the time. Here are three key considerations to help you decide when to upgrade: 1) Your users’ tech savvy needs to align with the system’s level of...
by ABIP | Jul 3, 2018 | News
Ready to offer a 401(k) plan? Know your options: Traditional 401(k)s let employees contribute pretax dollars and give employers the option of matching contributions. But rigorous testing rules apply. Roth 401(k)s allow employees to contribute after-tax dollars and...
