CELEBRATING OVER SIXTY FIVE YEARS

CELEBRATING OVER
SIXTY FIVE YEARS

GPKLEG Blog

News & Helpful Tips

If you’re a real estate developer or a small business owner who owns commercial real estate, you might be thinking

Estate planning can be overwhelming. One reason is that it has a language all its own. While you may be

Providing for the educational needs of your children, grandchildren and even future generations is an honorable estate planning objective. What

When a married couple files a joint tax return, each spouse is “jointly and severally” liable for the full amount

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

As a result of the current estate tax exemption amount ($11.58 million in 2020), many estates no longer need to

Like so many things this year, the recommended practices for your annual end-of-the-year tax planning reflect the COVID-19 pandemic and

Do you buy or lease computer software to use in your business? Do you develop computer software for use in

The business use of websites is widespread. But surprisingly, the IRS hasn’t yet issued formal guidance on when Internet website

In some cases, investors have significant related expenses, such as the cost of subscriptions to financial periodicals and clerical expenses.

Generally, the proceeds of your life insurance policy are included in your taxable estate. You can remove them by transferring

With the presidential election only weeks away, many people are beginning to pay closer attention to each candidate’s positions on

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2020. Keep

COVID-19 has changed our lives in many ways, and some of the changes have tax implications. Here is basic information

What happens if illness, injury or age-related dementia renders you unable to make decisions or communicate your wishes regarding your

Wouldn’t it be great if your employees worked as if they owned the company? An employee stock ownership plan (ESOP)

Today, many banks are working with struggling borrowers on loan modifications. Recent guidance from the Financial Accounting Standards Board (FASB)