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
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
In order to take advantage of two important depreciation tax breaks for business assets, you must place the assets in
Donations to qualified charities are generally fully deductible, and they may be the easiest deductible expense to time to your
When planning their estates, many people agonize over the negative impact their wealth might have on their children. To address
Taxpayers may challenge IRS expert’s valuation in gift tax case. The U.S. Court of Appeals for the First Circuit has
Tax deferral denied despite lack of prearranged plan for related-party transaction. Sec. 1031 allows capital gains to be deferred when
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