AHP Blog

Created: Wednesday, November 23, 2022

Choosing a retirement plan for your small business

Most growing small businesses reach a point when it’s time to offer employees a retirement plan. Perhaps the most well-known plan type is the 401(k), which is available to any size company. Contributions to a traditional 401(k) are made pretax, reducing taxable income, but distributions are taxable. Another option: a Simplified Employee Pension (SEP) plan, which is also available to any size business Contact us for more info about possible plans.
Created: Tuesday, November 22, 2022

Year-end giving to charity or loved ones

Many people like to give thanks at this time of year by donating to their favorite charities. Here are the basic 2022 rules for charitable contributions and gifts to loved ones.
Created: Thursday, November 17, 2022

Like every business, a start-up needs a sensible budget

Are you thinking about launching a start-up? Or do you just want to get back to the basics of good budgeting? Here’s a look at the foundation of a solid budget.
Created: Tuesday, November 15, 2022

Computer software costs: How does your business deduct them?

These days, most businesses buy or lease computer software to use in their operations. Or perhaps your business develops computer software to use in your products or services or sells or leases software to others. In any of these situations, you should be aware of the complex rules that determine the tax treatment of the expenses of buying, leasing or developing computer software
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.