AHP Blog

Created: Friday, January 13, 2023

The Secure Act 2.0 – Part 1

There are some major changes rolling out in the next few years related to many types of retirement accounts, courtesy of what is known as the SECURE Act 2.0. The first of the legislation will roll-out in fiscal year 2023, although the full impact may not be felt until 2033 when the last of these changes goes into effect. The SECURE Act 2.0 will be a game-changer that will affect employer and employee plans, as well as individual retirement account (IRA) owners and beneficiaries.
Created: Tuesday, January 10, 2023

Employers should be wary of ERC claims that are too good to be true

The Employee Retention Credit (ERC) was a valuable tax credit that helped employers that kept workers on staff during the height of the COVID-19 pandemic. While the credit is no longer available, eligible employers that haven’t yet claimed it might still be able to do so by filing amended payroll returns for tax years 2020 and 2021.
Created: Wednesday, January 4, 2023

Unused PTO a problem? Consider a contribution arrangement

A new year has arrived. For many businesses, this means employees’ paid time off (PTO) arrangements have reset. And at companies with “use it or lose it” policies, workers have likely left a few or perhaps many unused hours on the table.
Created: Tuesday, January 3, 2023

IRS delays $600 threshold for Form 1099-K reporting

Good news for anyone who uses one or more of the popular payment applications such as Venmo, PayPal, or CashApp: the new tax reporting requirement threshold that was scheduled to take effect for the 2022 tax year has been delayed!
Created: Tuesday, January 3, 2023

SECURE 2.0 law may make you more secure in retirement

A new law was recently signed that will help Americans save more for retirement, although many of the provisions don’t kick in for a few years. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was signed into law on December 29, 2022.
Created: Tuesday, December 27, 2022

Renting to a relative? Watch out for tax traps

If you own a home and rent it to a relative, you may be surprised to find out there could be tax consequences.
Created: Wednesday, December 21, 2022

Inbound vs. outbound: Balancing your company’s sales strategies

It might sound like the lingo of air traffic controllers — inbound vs. outbound. But businesses of all types must grapple with these concepts and their associated challenges when developing sales strategies.
Created: Tuesday, December 20, 2022

Save for retirement by getting the most out of your 401(k) plan

Socking away money in a tax-advantaged retirement plan can help you reduce taxes and help secure a comfortable retirement. If your employer offers a 401(k) or Roth 401(k), contributing to the plan is a smart way to build a substantial nest egg.
Created: Wednesday, December 7, 2022

Does your family business’s succession plan include estate planning strategies?

Family-owned businesses face distinctive challenges when it comes to succession planning. For example, it’s important to address the distinction between ownership succession and management succession.
Created: Tuesday, December 6, 2022

Answers to your questions about taking withdrawals from IRAs

As you may know, you can’t keep funds in your traditional IRA indefinitely. You have to start taking withdrawals from a traditional IRA (including a SIMPLE IRA or SEP IRA) when you reach age 72.