GPKLEG Blog
News & Helpful Tips
If you run your business as a C corporation, you may be eligible for a potentially significant tax break for
Would you like your estate plan to support your favorite charity and leave a legacy for your family? Two trust
Donor-advised funds (DAFs) have become increasingly popular among individuals and families who want to simplify their charitable giving while maximizing
With the April 15 tax filing deadline in the rearview mirror, you’re likely to turn your attention to other things.
When most people think about estate planning, they focus primarily on tangible assets, such as real estate, investments and personal
The deadlines for filing 2025 tax returns (or extensions) are fast approaching. Although most tax planning moves must be completed
Life insurance can provide peace of mind. But if your estate is large enough that estate taxes are a concern,
If you operate your business as a C corporation, how you put money into your company — and how you
Last year’s One Big Beautiful Bill Act (OBBBA) terminated several clean energy tax incentives earlier than previously scheduled. But if
A family limited partnership (FLP) allows you to manage and protect your wealth while gradually transferring it to your children
Generally, each year you can contribute up to the annual limit to a traditional or Roth IRA (or a combination
A new but temporary special depreciation allowance for qualified production property (QPP) was created by last year’s One Big Beautiful
A new tax-advantaged way to help children build up savings for the future was created by the One Big Beautiful
Choosing an executor is one of the most important decisions in the estate planning process. This person (or institution) will
If you itemize deductions on your 2025 individual income tax return, you potentially can deduct donations to qualified charities you
An important decision to make when filing your individual income tax return is whether to claim the standard deduction or
Many people think of estate planning as a “one-and-done” task — something you complete and file away. But an estate
If you own a business or are self-employed and haven’t already set up a tax-advantaged retirement plan, consider establishing one
The deadlines for filing 2025 tax returns (or extensions) are fast approaching. Although most tax planning moves must be completed
Irrevocable trusts provide various estate planning benefits, such as reducing estate taxes and helping to ensure assets are distributed as
An advance payment is one received by a business before it provides whatever is being paid for. For federal income
It’s not uncommon for family members to contest a loved one’s will or challenge other estate planning documents. But you
If you had significant medical expenses last year, you may be wondering what you can deduct on your 2025 income
If you own a business or are self-employed and haven’t already set up a tax-advantaged retirement plan, consider establishing one
The gift tax annual exclusion allows you to transfer up to $19,000 (for 2026) per beneficiary gift-tax-free, without tapping your
Do you operate a business as a partnership, a limited liability company (LLC) treated as a partnership for tax purposes