AHP Blog

Created: Tuesday, March 24, 2020

How to Manage COVID-19-Related Business Risks

The coronavirus (COVID-19) outbreak has had a crippling effect on the global economy. This is clearly uncharted territory. As millions around the globe do their best to minimize their exposure to the virus, business owners and managers face an uncertain and stressful future.
Created: Monday, March 23, 2020

Federal and State Tax Filing Deadlines Moved to July 15

On Friday, March 20th, Treasury Secretary Steven Mnuchin announced that the federal tax filing deadline would be moved from April 15th to July 15th.
Created: Tuesday, March 3, 2020

Is Your Family Medical Leave Policy Up-to-Date?

The Administrator of the Department of Labor's Wage and Hour Division (WHD) periodically responds to new Family Medical leave Act (FMLA) compliance questions from employers and employees. Notable ones are posted for the benefit of people facing similar situations. This article contains a sampling. A recent case deals with whether an employee's time away from work to attend regular meetings at her children's school qualifies as FMLA-sanctioned leave. The meetings were with school officials to discuss the special needs of the children and appropriate ""individualized education plans.
Created: Sunday, March 1, 2020

The Deductible Mileage Rate for Business Driving Decrease for 2020

The IRS has announced the 2020 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Created: Monday, February 10, 2020

Recent Developments in GASB 84: Fiduciary Activities

Many governments have had recent questions and concerns about the impact GASB 84 would have on reporting defined contributions plans in government/fiduciary statements.
Created: Wednesday, February 5, 2020

10 Tax Elections to Save Money on Your 2019 Return

2020 is a presidential election year. You'll have an opportunity to cast a vote for your favored presidential candidate in November, but you can make several other key "elections" this year when filing your 2019 tax return. These elections may be influenced by the Tax Cuts and Jobs Act (TCJA), as well as the year-end spending package that was signed late last year.
Created: Wednesday, January 29, 2020

Stretch IRAs Lose Potency under the SECURE Act

The Setting Every Community Up for Retirement Enhancement (SECURE) Act contains a number of favorable provisions that will help Americans save more for retirement. However, the new law also contains an unfavorable provision that will affect nonspouse IRA beneficiaries who inherit accounts with substantial balances. As a result, some carefully constructed estate plans will be diminished.
Created: Wednesday, January 29, 2020

SECURE Act Affects Retirement and Tax Planning for Individuals

On December 20, President Trump signed into law the Setting Every Community Up for Retirement Enhancement (SECURE) Act. It was part of the Further Consolidated Appropriations Act federal spending package.
Created: Tuesday, January 21, 2020

Payroll Tax Changes and Other Related Matters for 2020

The FICA tax calculation is comprised of two components: Social Security (SS) and Medicare (MDCR). The federal unemployment tax wage base will remain the same for 2020.
Created: Monday, January 13, 2020

What Employers Should Know About the SECURE Act

The Setting Every Community Up for Retirement Enhancement (SECURE) Act was mainly intended to help individuals save more for retirement. But the new law also contains provisions that help simplify the administration of retirement plans for employers and allow more employees to participate in 401(k) plans. Here are some provisions that may affect business owners.