Our Blog

  • Abbott Pratt Tax Talks: Health Insurance for S-Corp Owners

    By Abbott Pratt & Associates

    What a great time of the year. The holidays are upon us, and tax season is right around the corner. Since there is still time to make any reporting changes needed before year end, those who are 2% ...

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  • Abbott Pratt Quick Tax Tips – Charge it!

    By Abbott Pratt & Associates

    Year end is only a few weeks away and as a business owner, it may be most tax advantageous for you to accelerate deductions into the current tax year. One way of doing this is to charge last minute ex...

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  • Abbott Pratt Tax Talks: Non-Cash Charitable Contributions

    By Abbott Pratt & Associates

    Going through the rooms of our house for our family’s upcoming move, my wife and I were constantly debating whether or not we would keep or purge our accrued belongings. Instead of cramming the hous...

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  • Essential Tax Strategies for Year 1 of Operations

    By Abbott Pratt & Associates

    Classify the money you put in the business as owner loans, NOT as equity By classifying the funds as loans, you are giving yourself the ability to repay once the business has sufficient cash flow. In...

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  • Is Massachusetts DUA Charging You Monthly?

    By Abbott Pratt & Associates

    Here's why the Massachusetts Department of Unemployment Assistance might now be charging you monthly. If you have an employee covered by MA health, employers are now responsible to pay up to $750 per ...

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  • Can I Still Deduct Food & Drink?

    By Abbott Pratt & Associates

    Recently, the IRS answered the question on many business owners’ minds: Can businesses still generally deduct 50% of the food and drink expenses related to operating their business? The answer,...

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  • The Associate Buy-in: 25%, 24%, 51% Method

    By Abbott Pratt & Associates

    Having an associate buy into a company is often one of the most rewarding moments of the selling owner’s career. The Associate buy-in can take many forms, but one method we have advised and highly r...

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  • What’s Your Exit Strategy?

    By Abbott Pratt & Associates

    No matter where you are with your company - at the start-up phase, still growing, or at full maturity - it’s always important to keep the end in mind. Often, business owners wait too long to begin ...

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  • Helpful Practices To Enhance The Employer / Employee Relationship

    By Abbott Pratt & Associates

                        Too often, business owners are so focused on their company’s financial results that they forget to...

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  • Take Advantage of the New 20% Pass Through

    By Abbott Pratt & Associates

    The new 20% pass through deduc- tion can be a huge tax savings for many small businesses and their families. Get the conversation going now and strategize ways to take full advantage of this deduction...

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