GPKLEG Blog
News & Helpful Tips
A financial statement audit can give lenders, investors and other stakeholders greater confidence in your business’s financial reporting. But not
Life insurance can provide critical financial protection for the people who depend on you or help you achieve other estate
Are you wondering if the passive activity loss rules affect business ventures you’re engaged in — or might engage in?
If you invest in mutual funds, be aware of some potential pitfalls involved in buying and selling shares. Surprise sales
You may view your will as the centerpiece of your estate plan. But other documents can complement it. For example,
October 15 is the deadline for individual taxpayers who extended their 2019 tax returns. (The original April 15 filing deadline
Election years often lead to uncertainty for businesses, but 2020 surely takes the cake when it comes to unpredictability. Amid
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
A potential downside of tax-deferred saving through a traditional retirement plan is that you’ll have to pay taxes when you
For many, an important estate planning goal is to encourage their children or other heirs to lead responsible, productive lives.
If you’re interested in lending money to your children or other family members, consider establishing a “family bank.” These entities
Every company has at least one owner. And, in many cases, there exists leadership down through the organizational chart. But
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