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
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
It’s not uncommon for family members to contest a loved one’s will or challenge other estate planning documents. But you
If you had significant medical expenses last year, you may be wondering what you can deduct on your 2025 income
If you own a business or are self-employed and haven’t already set up a tax-advantaged retirement plan, consider establishing one
The gift tax annual exclusion allows you to transfer up to $19,000 (for 2026) per beneficiary gift-tax-free, without tapping your
Do you operate a business as a partnership, a limited liability company (LLC) treated as a partnership for tax purposes
If you had significant medical expenses last year, you may be wondering what you can deduct on your 2025 income
A Crummey trust provides a key tax benefit of an outright gift without some of the downsides. Although the mechanics
The IRS is opening the filing season for 2025 individual income tax returns on January 26. This is about the
Now is a good time to review your business’s expenses for deductibility. Accelerating deductible expenses into this year generally will
Planning for the end of life is never easy, but including your funeral and memorial wishes in your estate plan
The year 2020 has taught businesses many lessons. The sudden onset of the COVID-19 pandemic followed by drastic changes to
As we approach the end of the year, it’s a good time to think about whether your business needs to
Are you thinking about selling stock shares at a loss to offset gains that you’ve realized during 2020? If so,
According to literature, the “seven deadly sins” are lust, gluttony, greed, laziness, wrath, envy and pride. Although individuals may be
By now, some businesses have completed their 2021 budgets while others are still crunching numbers and scrutinizing line items. As
As year end approaches, it’s a good idea for calendar-year entities to review the guidelines for recognizing revenue and expenses.
S corporations must comply with several strict requirements or risk losing their tax-advantaged status. Among other things, they can have
S corporations can provide tax advantages over C corporations in the right circumstances. This is true if you expect that
The IRS, U.S. Department of Labor and Department of Health and Human Services recently issued interim final regulations addressing group
From natural disasters and government shutdowns to cyberattacks and fraud, risks abound in today’s volatile, uncertain marketplace. While some level
Small business owners are well aware of the increasing cost of employee health care benefits. As a result, your business
Now that Joe Biden has been projected as the winner of the presidential election by major news outlets,* you may