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Received an IRS Tax Notice? Here’s What It Means. 

By |2026-08-06T12:43:06-05:00August 4th, 2026|Categories: Transportation|Tags: |

Opening your mailbox and seeing a letter from the IRS can be stressful. The most important thing you can do is read the notice and respond by the deadline. Ignoring it can result in additional penalties, interest, or collection action. Here are some of the most common federal tax notices and what they mean. 1. CP2000 [...]

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How Does a Business Loan Affect My Taxes?

By |2026-08-04T07:29:25-05:00August 4th, 2026|Categories: Transportation|Tags: , |

Hey Abe, I’m thinking about taking out a loan to buy a truck for my business. How does this affect my taxes? Great question! Taking out a business loan can provide the cash needed to purchase equipment, cover operating expenses, or grow your business. Receiving loan proceeds usually does not create taxable income. Likewise, payments made [...]

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"Abacus!", an independent member of the Crete Professionals Alliance, is the brand name under which Abacus CPAs LLC and Abacus Business Consulting, LLC provide professional services. Abacus CPAs LLC and Abacus Business Consulting, LLC practice as an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable laws, regulations, and professional standards. Abacus CPAs LLC is a licensed independent CPA firm that provides attest services to its clients, and Abacus Business Consulting, LLC provides tax and business consulting services to its clients. Abacus Business Consulting, LLC and Crete Professionals Alliance are not licensed CPA firms. The entities falling under the Abacus! brand are independently owned and are not liable for the services provided by any other entity providing the services under the Abacus! brand. Our use of the terms "our firm" and "we" and "us" and terms of similar import, denote the alternative practice structure conducted by Abacus CPAs LLC and Abacus Business Consulting, LLC.

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