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
Life insurance can be a powerful financial and estate planning tool, but its benefits may be reduced or even eliminated
The election of Donald Trump as President of the United States could result in major tax law changes in 2017.
Special tax benefits for military members. The IRS reminds service members that they may qualify for special tax benefits. These
What’s your status? An accurate tax return depends partly on using the right filing status. When one taxpayer’s living situation
Saving for retirement can be tough if you’re putting most of your money and time into operating a small
U.S. multinationals optimistic for another repatriation holiday. President-elect Trump’s election win moves large U.S. corporations closer than they’ve been in
Could on-site childcare become more attractive for businesses under President-elect Trump? On his website, Trump proposed during the campaign to
Will you owe the 3.8% net investment income tax (NIIT) on unearned income? Try to reduce your exposure. It’s a
Many tax breaks are reduced or eliminated for higher-income taxpayers. Two of particular note are the itemized deduction reduction and
In addition to income tax, you must pay Social Security and Medicare taxes on earned income, such as salary and
Typically, it’s better to defer tax. One way is through controlling when your business recognizes income and incurs deductible expenses.
There’s a lot to think about when you change jobs, and it’s easy for a 401(k) or other employer-sponsored retirement