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
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
The credit for increasing research activities, often referred to as the research and development (R&D) credit, is a valuable tax
One goal of estate planning is to avoid or minimize probate. This is particularly important if you own real estate
If you run a business and accept payments through third-party networks such as Zelle, Venmo, Square or PayPal, you could
If you donated to charity last year, letters from the charities may have appeared in your mailbox recently acknowledging the
If you own your own company and travel for business, you may wonder whether you can deduct the costs of
If you’re concerned about the impact of transfer taxes on your gifts, consider making “net gifts” to your loved ones.
If you’re in business for yourself as a sole proprietor, or you’re planning to start a business, you need to
April 18, 2022, is the deadline for filing your federal income tax return. Keep in mind that the gift tax
Traditional IRAs and Roth IRAs have been around for decades and the rules surrounding them have changed many times. What
If you operate a business, or you’re starting a new one, you know you need to keep records of your
Designing an estate plan can be a delicate balancing act. On the one hand, you want to preserve as much
