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
These days, most businesses have websites. But surprisingly, the IRS hasn’t issued formal guidance on when website costs can be
Let’s assume you have a legally valid will but you’ve decided that it should be revised because of a change
The U.S. Senate and House of Representatives have passed the Inflation Reduction Act (IRA). President Biden is expected to sign
When you filed your federal tax return this year, were you surprised to find you owed money? You might want
Are you a partner in a business? You may have come across a situation that’s puzzling. In a given year,
If you’re approaching retirement or have already retired, one of the biggest challenges is balancing the need to maintain your
Here’s an interesting option if your small company or start-up business is planning to claim the research tax credit. Subject
Many people wonder how they can save taxes by transferring assets into their children’s names. This tax strategy is called
Personal items — which may have modest monetary value but significant sentimental value — may be more difficult to address
A business or individual might be able to dispose of appreciated real property without being taxed on the gain by
Sometimes, bigger isn’t better: Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to
Portability allows a surviving spouse to apply a deceased spouse’s unused federal gift and estate tax exemption amount toward his
The Tax Cuts and Jobs Act (TCJA) significantly boosted the potential value of bonus depreciation for taxpayers — but only
Although merger and acquisition activity has been down in 2022, according to various reports, there are still companies being bought
Portability allows a surviving spouse to apply a deceased spouse’s unused federal gift and estate tax exemption amount toward his
Sales and registrations of electric vehicles (EVs) have increased dramatically in the U.S. in 2022, according to several sources. However,
If you’ve recently begun receiving disability income, you may wonder how it’s taxed. The answer is: It depends. The key
Here’s a not-so-fun fact: The generation-skipping transfer (GST) tax is among the harshest and most complex in the tax code.
Business owners are aware that the price of gas is historically high, which has made their vehicle costs soar. The
“Thanks, but no thanks.” If you expect to receive an inheritance from a family member, you might want to use
Are you in the early stages of divorce? In addition to the tough personal issues that you’re dealing with, several
As a result of the current estate tax exemption amount ($12.06 million in 2022), many people no longer need to
Does your college-aged child have a basic estate plan? In more cases than not, the answer is “no.” The good
Here’s an interesting option if your small company or start-up business is planning to claim the research tax credit. Subject