Author Archives: ABIP



ABIP

Tax Extenders, Retirement Plan Changes, and Repeals
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Tax Extenders, Retirement Plan Changes, and Repeals

Tax Extenders, Retirement Plan Changes, and Repeals The Further Consolidated Appropriations Act, 2020, signed into law on December 20, 2019, extended a number of expired tax provisions for businesses and individuals through 2020. It also included several retirement plan changes and repealed three health care taxes. Here’s what you need to know: Individual Tax Extenders Mortgage Insurance Premiums. Homeowners with less than 20 percent equity in...

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03 Feb 2020
2020 Tax Withholding: the new Form W-4
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2020 Tax Withholding: the new Form W-4

2020 Tax Withholding: the new Form W-4 Form W-4, Employee’s Withholding Certificate, has been redesigned for 2020. Previously, income tax withholding was based on an employee’s marital status and withholding allowances or tied to the value of the personal exemption. With the revised Form W-4, however, income tax withholding is generally based on the worker’s expected filing status and standard deduction for the year. Furthermore, workers...

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02 Feb 2020
ACA Reporting Requirements for Employers
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ACA Reporting Requirements for Employers

ACA Reporting Requirements for Employers The health care law contains tax provisions that affect employers. Two parts of the Affordable Care Act apply only to Applicable Large Employers (ALE). These are the employer shared responsibility provisions and the employer information reporting provisions for offers of minimum essential coverage. The size and structure of a workforce determines which parts of the law apply to which employers....

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01 Feb 2020
Important Tax Changes for Individuals and Businesses
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Important Tax Changes for Individuals and Businesses

Important Tax Changes for Individuals and Businesses Every year, it’s a sure bet that there will be changes to current tax law and this year is no different. From standard deductions to health savings accounts and tax rate schedules, here’s a checklist of tax changes to help you plan the year ahead. Individuals In 2020, a number of tax provisions are affected by inflation adjustments,...

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09 Jan 2020
What’s New for the 2020 Tax Filing Season
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What’s New for the 2020 Tax Filing Season

What’s New for the 2020 Tax Filing Season While the 2020 tax filing season promises to be less confusing than 2019, there are still a number of changes that taxpayers should be aware of. New, Revised or Updated Tax Forms Form 1040: Revised and Redesigned The IRS released a draft Form 1040 for 2019 tax returns that has been updated from the 2018 version. Of...

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07 Jan 2020
Tax Breaks for Taxpayers Who Itemize
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Tax Breaks for Taxpayers Who Itemize

Tax Breaks for Taxpayers Who Itemize Many taxpayers opt for the standard deduction because it is easier, but sometimes itemizing your deductions is the better choice – often resulting in a lower tax bill. Whether you bought a house, refinanced your current home, or had extensive gambling losses, you may be able to take advantage of tax breaks for taxpayers who itemize. Here’s what to...

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06 Jan 2020
Tax Planning Includes Keeping Good Records
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Tax Planning Includes Keeping Good Records

Tax Planning Includes Keeping Good Records It’s January and tax season is right around the corner. For many people that means scrambling to collect receipts, mileage logs, and other tax-related documents needed to prepare their tax returns. If this describes you, chances are, you’re wishing you’d kept on top of it during the year so you could avoid this scenario yet again. With this in...

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03 Jan 2020
Our New Senior Tax Manager Mia Ramirez-Powell & Tax Manager Amanda Grantham
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Our New Senior Tax Manager Mia Ramirez-Powell & Tax Manager Amanda Grantham

ABIP CPAs & Advisors is proud to welcome Senior Tax Manager Mia Ramirez-Powell and Tax Manager Amanda Grantham. At ABIP, Amanda and Mia will focus on federal and multistate income tax compliance, IRS & state tax controversy, multistate sales & use, property and international taxation. Mia graduated from Baylor University with a Master of Accountancy with an emphasis in Tax and a Post-Baccalaureate in Accounting....

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23 Oct 2019
Our New Principal, Anthony DeBenedictis
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Our New Principal, Anthony DeBenedictis

abip Advisors is proud to announce that Anthony DeBenedictis has joined the firm as a Principal.  Anthony graduated from California State University, Chico with a Bachelor of Science in Business Administration with options in Finance & Strategic Management and a minor in Economics.  He has over 20-years of industry and consulting financial experience as a Director for a national CPA firm, a Chicago-based intellectual property...

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08 Oct 2019
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