AHP Articles

Created: Tuesday, November 8, 2022

Adopting a child? Bring home a tax break too

Two tax benefits are available to offset the expenses of adopting a child. In 2022, adoptive parents may be able to claim a credit against their federal tax for up to $14,890 of “qualified adoption expenses” for each child. This will increase to $15,950 in 2023. That’s a dollar-for-dollar reduction of tax.
Created: Wednesday, November 2, 2022

Reinforce your cybersecurity defenses regularly

If you’ve been in business for any amount of time, you probably don’t need anyone to tell you about the importance of cybersecurity. However, unlike the lock to a physical door, which generally lasts a good long time, measures you take to protect your company from hackers and malware need to be updated and reinforced much more regularly.
Created: Tuesday, November 1, 2022

How inflation will affect your 2022 and 2023 tax bills

The effects of inflation are all around. You’re probably paying more for gas, food, health care and other expenses than you were last year. Are you wondering how high inflation will affect your federal income tax bill for 2023? The IRS recently announced next year’s inflation-adjusted tax amounts for several provisions.
Created: Wednesday, October 26, 2022

Supplementing your company’s health care plan with an EBHRA

Is your business ready to take its health care benefits to the next level? One way to do so is to supplement group health coverage with an Excepted Benefit Health Reimbursement Arrangement (EBHRA). Here are some pertinent details.
Created: Tuesday, October 25, 2022

You may be liable for “nanny tax” for all types of domestic workers

You’ve probably heard of the “nanny tax.” But even if you don’t employ a nanny, it may apply to you. Hiring a house cleaner, gardener or other household employee (who isn’t an independent contractor) may make you liable for federal income and other taxes. You may also have state tax obligations.
Created: Tuesday, October 25, 2022

IRS unveils inflation adjustments for next year

Inflation will drive up more than 60 tax provisions for 2023, including the tax rates, according to the Internal Revenue Service.
Created: Tuesday, October 18, 2022

Student Loan Debt Relief

The Biden-Harris Administration is providing up to $20,000 in student loan debt relief for eligible borrowers. This is a one-time debt relief program which is being provided by the U.S. Department of Education (ED) under the Biden-Harris Administration student debt relief plan.
Created: Wednesday, October 12, 2022

M&A on the way? Consider a QOE report

Whether you’re considering selling your business or acquiring another one, due diligence is a must. In many mergers and acquisitions (M&A), prospective buyers obtain a quality of earnings (QOE) report to evaluate the accuracy and sustainability of the seller’s reported earnings. Sometimes sellers get their own QOE reports to spot potential problems that might derail a transaction and identify ways to preserve or even increase the company’s value. Here’s what you should know about this critical document.
Created: Tuesday, October 11, 2022

Tax and other financial consequences of tax-free bonds

If you’re interested in investing in tax-free municipal bonds, you may wonder if they’re really free of taxes. While the investment generally provides tax-free interest on the federal (and possibly state) level, there may be tax consequences. Here’s how the rules work.
Created: Wednesday, October 5, 2022

Shine a light on sales prospects to brighten the days ahead

When it comes to sales, most businesses labor under two major mandates: 1) Keep selling to existing customers, and 2) Find new ones.