AHP Articles

Created: Thursday, October 10, 2019

New Overtime Pay Rules Finalized for 2020

The U.S. Department of Labor (DOL) has issued the long-anticipated final version of its overtime eligibility rules. The changes will take effect on January 1, 2020. As a result, the DOL estimates that 1.3 million workers will be newly eligible for overtime pay. Are any of them on your payroll? Read on to find out.
Created: Friday, September 13, 2019

Cost Segregation Studies Can Benefit Business Owners

Any business owner who’s acquired, constructed or substantially improved a building this year — or even in previous years — should read up on the tax benefits of a cost segregation study. This article explains how undertaking one may lead to accelerated depreciation deductions, which reduce current taxes and boost cash flow.
Created: Wednesday, September 4, 2019

Putting Together the Succession Planning and Retirement Planning Puzzle

Business owners must save for retirement and create a succession plan. To put together the pieces, ask some fundamental questions.
Created: Tuesday, August 27, 2019

Expenses that teachers can and can’t deduct on their tax returns

As teachers head back for a new school year, they often pay for various expenses for which they don’t receive reimbursement. Fortunately, they may be able to deduct them on their tax returns. However, there are limits on this special deduction, and some expenses can’t be written off.
Created: Tuesday, August 20, 2019

Claiming Your Parent as a Dependent

If you pay over half the cost of supporting a parent, he or she is considered your dependent for federal income tax purposes — which may qualify you to some significant tax breaks. Here are the details.
Created: Tuesday, August 6, 2019

The Tax Implications of Being a Winner

If you’re lucky enough to be a winner at gambling or the lottery, congratulations! After you celebrate, be ready to deal with the tax consequences of your good fortune.
Created: Friday, August 2, 2019

Changing Jobs? What Will Become of Your 401(k) Balance?

Most private sector employers, for better or worse, put you in the driver's seat when it comes to saving for retirement. If you're a genuinely savvy and diligent investor, you might prefer the flexibility of rolling over your accumulated retirement savings into an IRA. This choice assumes, however, that your next employer's 401(k) plan allows you to move money into it from another 401(k) plan. Most, but not all, do.
Created: Tuesday, July 30, 2019

FAQs about LTC Insurance and Your Taxes

If you or a loved one needs long-term care, you probably don't want to pay it from your hard-earned savings. Instead, consider purchasing a long-term care (LTC) insurance policy. As a bonus, qualified LTC policies may deliver some tax breaks. Here are answers to some frequently asked questions about this type of coverage
Created: Thursday, July 18, 2019

Update on the New Business Interest Expense Limitation

The Tax Cuts and Jobs Act (TCJA) imposes a new limitation on deductions for business interest expense. The IRS recently issued guidance in the form of proposed regulations. The business interest expense limitation is a permanent change for tax years that began in 2018. Thankfully, many businesses are unaffected. This article covers what you need to know.
Created: Thursday, July 18, 2019

Be Ready for Anything with Regular Business Valuations

Do you know the current value of your business? Even if you’re not considering selling your company or otherwise transferring its ownership right now, it could happen sooner than you think.