AHP Articles

Created: Wednesday, September 4, 2024

6 key elements of a business budget

Every business needs a budget, but not every budget looks the same. Some companies have intricately detailed ones, others rely on simple templates generated with off-the shelf software, and still others forego formal budgets in favor of a “fly by the seat of your pants” approach. (That last option isn’t recommended.)
Created: Tuesday, September 3, 2024

6 tax-free income opportunities

Believe it or not, there are ways to collect tax-free income and gains. Here are some of the best opportunities to put money in your pocket without current federal income tax implications:
Created: Wednesday, August 28, 2024

Brand audits can help companies in a variety of ways

A strong brand can help boost revenue, while a weaker one may reduce sales opportunities and stifle growth.
Created: Wednesday, August 28, 2024

Changes to Minimum Wage and Sick Time Leave in Michigan

Due to a recent Supreme Court decision, significant changes to minimum wage and paid sick leave requirements will take effect in Michigan on February 21, 2025.
Created: Tuesday, August 27, 2024

Are you liable for two additional taxes on your income?

Having a high income may mean you owe two extra taxes: the 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment income. Let’s take a look at these taxes and what they could mean for you.
Created: Tuesday, August 27, 2024

Monitoring and detection tools are becoming vital parts of a financial institution’s risk management

It’s no secret that fraud schemes and attempts are becoming increasingly more frequent across the banking industry. More and more, monitoring and detection tools are becoming vital parts of a financial institution’s risk management processes…and it seems that Nacha agrees.
Created: Tuesday, August 20, 2024

Cash or accrual accounting: What’s best for tax purposes?

Your businesses may have a choice between using the cash or accrual method of accounting for tax purposes. The cash method often provides significant tax benefits for those that qualify. However, some businesses may be better off using the accrual method. Therefore, you need to evaluate the tax accounting method for your business to ensure that it’s the most beneficial approach.
Created: Wednesday, August 14, 2024

Does your company have an EAP? If so, be mindful of compliance

Many businesses have established employee assistance programs (EAPs) to help their workforces deal with the mental health, substance abuse and financial challenges that have become so widely recognized in modern society.
Created: Tuesday, August 13, 2024

Are you unfairly burdened by a spouse’s tax errors? You may qualify for “innocent spouse relief”

Navigating the complexities of tax law can be difficult, especially when faced with an unexpected tax bill due to the errors of a spouse or ex-spouse. The reason for such a bill has to do with the concept of “joint and several” liability. When a married couple files a joint tax return, each spouse is liable for the full amount of tax on the couple’s combined income. Therefore, the IRS can come after either spouse to collect the entire tax — not just the part that’s attributed to one spouse or the other. This includes any tax deficiency that the IRS assesses after an audit, as well as any penalties and interest.
Created: Wednesday, August 7, 2024

Businesses should stay grounded when using cloud computing

For a couple decades or so now, companies have been urged to “get on the cloud” to avail themselves of copious data storage and a wide array of software. But some businesses are learning the hard way that the seemingly sweet deals offered by cloud services providers can turn sour as hoped-for cost savings fail to materialize and dollars left on the table evaporate into thin air.