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
If your 40s are behind you, consider boosting retirement savings and reducing your 2016 tax bill with a 401(k) catch-up
Safe and convenient tool. The IRS has launched an online tool that lets taxpayers see their account balance, including what
Payments weren’t alimony. Alimony payments are includible in the recipient’s gross income and deductible by the payor. Here, spousal support
You may be aware of the rule that allows businesses to deduct bonuses employees have earned during a tax year
A shift of the tax burden? A brief from Washington, D.C.-based Tax Policy Center advocates shifting much of the tax
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 a world that’s increasingly paperless, you’re likely becoming accustomed to conducting a variety of transactions digitally. But when it
The Coronavirus Aid, Relief and Economic Security (CARES) Act made changes to excess business losses. This includes some changes that
Under current law, 100% bonus depreciation will be phased out in steps for property placed in service in calendar years
If you’re getting close to retirement, you may wonder: Are my Social Security benefits going to be taxed? And if
Despite the COVID-19 pandemic, students are going back to school this fall, either remotely, in-person or under a hybrid schedule.
If you’re going through a divorce, you probably feel a little overwhelmed by all the legal and financial items you
On August 28, the IRS issued guidance that provides some explanation of how employers can defer withholding and remitting an
In response to the COVID-19 crisis, the IRS recently issued Notice 2020-52. It offers sponsors of safe harbor 401(k) plans
On August 8, President Trump signed four executive actions, including a Presidential Memorandum to defer the employee’s portion of Social
If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the
In the COVID-19 era, many parents are hiring nannies and babysitters because their daycare centers and summer camps have closed.
You may use a qualified disclaimer to refuse a bequest from a loved one. Doing so will cause an asset