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
Time to get empowered. The IRS is reminding businesses that a number of special tax benefits are still available in
When a married couple lives in a community property state, the money earned and property acquired by either spouse during
Audit season is just around the corner for calendar-year companies. With external audits, preparation can help facilitate field work, lower
IRA distributions were taxable. A man took nearly $45,000 in withdrawals from his wife’s IRA during their divorce “out of
Court finds properties weren’t worthless or abandoned. The sole shareholder of an S corporation claimed net operating loss (NOL) carrybacks
Bill would allow vets to contribute to Health Savings Accounts (HSAs). The U.S. House is considering the “Veterans TRICARE Choice
Payroll tax penalty imposed. A person responsible for collecting and paying payroll tax can be held personally liable for willfully
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
You’ve probably heard of the “nanny tax.” But even if you don’t employ a nanny, it may apply to you.
Are you feeling generous at year end? Taxpayers can transfer substantial amounts free of gift taxes to their children or
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $160,200 for
There’s no shortage of online do-it-yourself (DIY) tools that promise to help you create an “estate plan.” But while these
The IRS recently issued its 2023 cost-of-living adjustments for more than 60 tax provisions. With inflation up significantly this year,
If you’re interested in investing in tax-free municipal bonds, you may wonder if they’re really free of taxes. While the
Are you planning to move to a different state? It may be due to a change in jobs, a desire
Mitigating the adverse effects of climate change is one of the primary targets of the recently enacted Inflation Reduction Act
IRS audit rates are historically low, according to a recent Government Accountability Office (GAO) report , but that’s little consolation
Are you feeling generous at year end? Taxpayers can transfer substantial amounts free of gift taxes to their children or
Whether the economic climate is stable or volatile, one thing never changes: the need to protect your assets from risk.
Does your business need real estate to conduct operations? Or does it otherwise hold property and put the title in