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Deciding whether a merger or acquisition is the right move
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Deciding whether a merger or acquisition is the right move

Merging with or acquiring another company is one of the best ways to grow rapidly. But you’ve got to weigh the potential advantages against the risks of such a move. An acquisition might enable your business to expand into new geographic areas or seize new customer segments. But it’s a costly process that can even spell doom for a company that overextends itself financially. To...

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16 Oct 2019
Understanding and controlling the unemployment tax costs of your business
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Understanding and controlling the unemployment tax costs of your business

Employers must pay federal unemployment tax on amounts up to $7,000 paid to each employee as wages during the year. The tax rate is 6% but it can be reduced by a credit for contributions paid into state unemployment funds. Typically, the more claims made against a business, the higher the unemployment tax bill. But there may be ways to control costs. Don’t hire employees...

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09 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
The chances of an IRS audit are low, but business owners should be prepared
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The chances of an IRS audit are low, but business owners should be prepared

As a business owner, are you worried about an IRS audit? The good news is that the odds against being audited are in your favor. The IRS audited 0.6% of individuals in fiscal year 2018. Businesses and high-income people are more likely to be audited, but audit rates are historically low. However, some tax return items may raise red flags with the IRS, such as...

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02 Oct 2019
Does your team know the profitability game plan?
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Does your team know the profitability game plan?

Right now, football teams are trying to put as many wins on the board as possible to make this a special season. Sports can highlight important lessons for business owners about profitability. One is that companies must learn from their mistakes and adjust their profitability game plans accordingly. Typical fumbles include poor customer service, ineffective pricing strategies and a broken-down supply chain. After identifying profit...

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25 Sep 2019
5 ways to withdraw cash from your corporation while avoiding dividend treatment
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5 ways to withdraw cash from your corporation while avoiding dividend treatment

Do you want to withdraw cash from your closely held corporation at a low tax cost? The easiest way is to distribute cash as a dividend. However, a dividend distribution is taxable to you as a shareholder but it’s not deductible by the corporation. But there are several alternatives that may allow you to withdraw cash from a corporation and avoid dividend treatment. For example,...

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18 Sep 2019
Our New Partner, Michael Landers
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Our New Partner, Michael Landers

abip CPAs & Advisors is proud to announce Michael Landers has been named Partner. Michael will provide audit as well as transaction and technical advisory services. Michael graduated from the University of Houston with a Bachelor of Science in Accounting. He is a CPA with over 20 years’ experience. He focuses strongly on delivering client service and leading business development activities. Michael is a proactive,...

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11 Sep 2019
2019 Q4 tax calendar: Key deadlines for businesses and other employers
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2019 Q4 tax calendar: Key deadlines for businesses and other employers

Here are a few key tax-related deadlines for businesses and other employers during Quarter 4 of 2019. OCT. 15: If a calendar-year C corp. that filed an extension, file a 2018 income tax return. OCT. 31: Report income tax withholding and FICA taxes for Q3 2019 (unless eligible for Nov. 12 deadline). DEC. 16: If a calendar-year C corp., pay the fourth installment of 2019...

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09 Sep 2019
The key to retirement security is picking the right plan for your business
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The key to retirement security is picking the right plan for your business

If you’re a small business owner, you may want to set up a retirement plan for yourself and any employees. Several types of plans are eligible for tax advantages, including 401(k)s, Simplified Employee Pension (SEP) plans and SIMPLE IRAs. For 2019, the maximum amount you can contribute to a 401(k) and exclude from income is $19,000, plus a $6,000 “catch-up” amount for those age 50...

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04 Sep 2019
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