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
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)
Last minute tax-saving business tips. As year-end approaches, if you own a business you could benefit from some tax-trimming moves.
Gamblers couldn’t deduct losses. “Professional” gamblers can deduct losses equal to their winnings, but the burden of proving the deduction
Exempt status revoked, but not denied. A volunteer fire department provided fire protection, ambulance and rescue services to the community.
Summons issued to bitcoin exchange. Coinbase, the nation’s largest bitcoin exchange firm, has been served with an IRS summons seeking
Attention employers: There are three ways to set up an automatic enrollment 401(k) plan. Many Americans are unprepared for retirement
Security tips for taxpayers. The IRS suggests that you always: use security software with firewall and antivirus protections, make sure
IRS puts personal info at risk. Employees in the IRS Small Business/Self-Employed Division often don’t follow the agency’s email policies
Expecting tax cuts next year? President-elect Trump declared one of his top priorities to be passage of a “major tax
Distributor’s TV packages don’t qualify. In two similar Technical Advice Memorandums, the IRS determined that a television subscription package sold
Taxpayers denied child tax breaks. For part of a year, a married couple lived with a child from the wife’s
The last month or so of the year offers accrual-basis taxpayers an opportunity to make some timely moves that might
Accrual-basis taxpayer? One way to save tax is to properly record and recognize expenses that were incurred this year but