AHP Articles

Created: Friday, January 31, 2025

Governor Whitmer Signs Bill to Improve Flow-Through Entity Tax Procedures

As part of five bipartisan bills recently signed by Governor Whitmer, Michigan Flow-Through Entity Tax Procedures have been improved. The act allows for expanded opportunity to elect into the tax and allows for all tax payments made for a given year to be reported as a credit to the taxpayer so long as the payments are made by the due date of the return, including extensions.
Created: Wednesday, January 29, 2025

Are “workationers” a danger to your business?

Every company presumably wants a workforce full of engaged employees. However, is it possible for workers to be too engaged?
Created: Tuesday, January 28, 2025

Looking ahead to 2025 tax limits as you prepare to file your 2024 return

Chances are, you’re more concerned about your 2024 tax return right now than you are about your 2025 tax situation. That’s understandable because your 2024 individual tax return is due to be filed by April 15 (unless you file for an extension).
Created: Monday, January 27, 2025

Governor Whitmer Signs New Michigan R&D Tax Credit into Law

As part of five bipartisan bills recently signed by Governor Whitmer, Michigan has introduced a new Research & Development (R&D) Credit. Michigan joins 36 other states with the implementation of this R&D tax credit. It will be available to businesses with the amount claimed varying depending on its number of employees. It is effective for tax years beginning on or after January 1, 2025.
Created: Friday, January 24, 2025

Beneficial Ownership Reporting – One Injunction Lifted, One Injunction Remains

On January 23, 2025,the Supreme Court lifted one of the two injunctions on beneficial ownership information reporting requirements. The Financial Crime Enforcement Network (FinCEN) subsequently released an official statement on January 24, 2025 clarifying that due to the second injunction remaining in place, enforcement remains on hold and penalties cannot be assessed for not filing.
Created: Wednesday, January 22, 2025

So many KPIs, so much time: An overview for businesses

From the moment they launch their companies, business owners are urged to use key performance indicators (KPIs) to monitor performance. And for good reason: When you drive a car, you’ve got to keep an eye on the gauges to keep from going too fast and know when it’s time to service the vehicle. The same logic applies to running a business.
Created: Tuesday, January 21, 2025

The standard business mileage rate increased in 2025

The nationwide price of gas is slightly higher than it was a year ago and the 2025 optional standard mileage rate used to calculate the deductible cost of operating an automobile for business has also gone up. The IRS recently announced that the 2025 cents-per-mile rate for the business use of a car, van, pickup or panel truck is 70 cents. In 2024, the business cents-per-mile rate was 67 cents per mile. This rate applies to gasoline and diesel-powered vehicles as well as electric and hybrid-electric vehicles.
Created: Wednesday, January 15, 2025

FASB Clarifies the Effective Date for New Disaggregation of Income Statement Expenses Standard for Non-Calendar Year End Entities

Why Is the FASB Issuing This Accounting Standards Update (ASU)? On January 6, 2025, the FASB issued ASU 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date to clarify the effective date for ASU 2024-03, Interim Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses for non-calendar year end entities.
Created: Wednesday, January 15, 2025

3 ways businesses can get more bang for their marketing bucks

Most small to midsize businesses today operate in tough, competitive environments. That means it’s imperative to identify and reach the right customers and prospects.
Created: Tuesday, January 14, 2025

Do you have questions about taking IRA withdrawals? We’ve got answers 

Once you reach age 73, tax law requires you to begin taking withdrawals — called Required Minimum Distributions (RMDs) — from your traditional IRA, SIMPLE IRA and SEP IRA. Since funds can’t stay in these accounts indefinitely, it’s important to understand the rules behind RMDs, which can be pretty complex. Below, we address some common questions to help you navigate this process.