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
Ask many entrepreneurs and small business owners to show you their financial statements and they’ll likely open a laptop and
To help you make sure you don’t miss any important 2019 deadlines, we’ve provided this summary of when various tax-related
Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the
Employee stock ownership plans (ESOPs) offer closely held business owners an exit strategy and a tax-efficient technique for sharing equity
A variety of tax-related limits affecting businesses are annually indexed for inflation, and many have gone up for 2019. Here’s
If you’re like many Americans, letters from your favorite charities have been appearing in your mailbox in recent weeks acknowledging
Choosing the right executor — sometimes known as a “personal representative” — is critical to the smooth administration of an
Many, if not most, employers today use some form of an “at-will” employment contract when hiring. The arrangement is theoretically
When President Trump signed into law the Tax Cuts and Jobs Act (TCJA) in December 2017, much was made of
While the Tax Cuts and Jobs Act (TCJA) generally reduced individual tax rates for 2018 through 2025, some taxpayers could
While most provisions of the Tax Cuts and Jobs Act (TCJA) went into effect in 2018 and either apply through
Now that 2019 has begun, there isn’t too much you can do to reduce your 2018 income tax liability. But
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