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
If you’re concerned about the impact of transfer taxes on your gifts, consider making “net gifts” to your loved ones.
If you’re in business for yourself as a sole proprietor, or you’re planning to start a business, you need to
April 18, 2022, is the deadline for filing your federal income tax return. Keep in mind that the gift tax
Traditional IRAs and Roth IRAs have been around for decades and the rules surrounding them have changed many times. What
If you operate a business, or you’re starting a new one, you know you need to keep records of your
Designing an estate plan can be a delicate balancing act. On the one hand, you want to preserve as much
Many tax limits that affect businesses are annually indexed for inflation, and a number of them have increased for 2022.
A primary purpose of estate planning is to ensure that your wealth is distributed according to your wishes after you
The number of people engaged in the “gig” or sharing economy has grown in recent years. In an August 2021
It’s difficult for many people to think about their mortality, so it’s not surprising to learn that many put off
Do you want to sell commercial or investment real estate that has appreciated significantly? One way to defer a tax
The Employee Retention Tax Credit (ERTC) is a valuable tax break that was extended and modified by the American Rescue
Are you age 65 and older and have basic Medicare insurance? You may need to pay additional premiums to get
Estate planning isn’t just about what happens to your assets after you die. It’s also about protecting yourself and your
The first advance payments under the temporarily expanded child tax credit (CTC) will begin to arrive for nearly 39 million
High-income taxpayers face a 3.8% net investment income tax (NIIT) that’s imposed in addition to regular income tax. Fortunately, there
If you’re a business owner and you hire your children this summer, you can obtain tax breaks and other nontax
Traditionally, estate planning has focused on more technical objectives, such as minimizing gift and estate taxes and protecting assets against
Eligible parents will soon begin receiving payments from the federal government. The IRS announced that the 2021 advance child tax
Many businesses use independent contractors to help keep their costs down. If you’re among them, make sure that these workers
One benefit of the current federal gift and estate tax exemption amount ($11.7 million in 2021) is that it allows
If you and your spouse have similar irrevocable trusts that benefit each other, it’s important to know that the trusts
Even after your 2020 tax return has been successfully filed with the IRS, you may still have some questions about