GPKLEG Blog
News & Helpful Tips
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
Many companies take an ad hoc approach to technology. If you’re among them, it’s understandable; you probably had to automate
When companies reissue prior financial statements, it raises a red flag to investors and lenders. But not all restatements are
Most business owners spend a lifetime building their business. And when it comes to succession, they face the difficult decision
Employee benefit plans with 100 or more participants must generally provide an audit report when filing IRS Form 5500 each
Bartering might seem like something that happened only in ancient times, but the practice is still common today. And the
While April 15 (April 18 this year) is the main tax deadline on most individual taxpayers’ minds, there are others
A life insurance policy can be an important part of an estate plan. The tax benefits are twofold: The policy
Grandparents often want to play a role in financing their grandchildren’s education. If you’re one of them, it’s important to
If you run a business “on the side” and derive most of your income from another source (whether from another
Like many businesses, yours may allow retirement plan participants to take out loans from their accounts. Such loans are governed
There are few events that can completely upend a person’s life more than divorce. Of course, there’s the emotional toll
An agreed upon procedures (AUP) engagement uses procedures similar to an audit, but on a smaller and limited scale. Here’s
Company retreats can cost enormous amounts of time and money. Are they worth it? Sometimes. Large-scale get-togethers can involve considerable
Like many business owners, you might also own highly appreciated business or investment real estate. Fortunately, there’s an effective tax
Yes, there’s still time to make 2016 contributions to your IRA. The deadline for such contributions is April 18, 2017.
Although probate can be time consuming and expensive, perhaps its biggest downside is that it’s public — anyone who’s interested
The federal income tax filing deadline for calendar-year partnerships, S corporations and limited liability companies (LLCs) treated as partnerships or
It’s not uncommon for adult children to help support their aging parents. If you’re in this position, you might qualify
Estate planning isn’t just about what happens to your assets after you die. It’s also about protecting yourself and your
Most business owners spend a lifetime building their business. And when it comes to succession, they face the difficult decision
Many business owners are accustomed to running the whole show. But as your company grows, you’ll likely be better off
Some business owners make major decisions by relying on gut instinct. But investments made on a “hunch” often fall short
As you file your 2016 return and plan your charitable giving for 2017, it’s important to keep in mind the
Rather than keeping track of the actual cost of operating a vehicle, employees and self-employed taxpayers can use a standard