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Opinions and News About Accounting Prepared and Selected by GP CPA Tax Experts

Hi GP CPA Client!

At the rate the company is going, you will end up with an $18,000 tax bill at the end of year. 

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Let’s talk about Basis!

“Basis” is a loaded word for accountants. It is very much described in the same regards as “time”, in that there never seems to be enough time when it is needed most.

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The 2018 tax filing season is in full swing

The big focus this year has been on tax refunds, which were expected to be quite a bit different this year due to the tax changes that happened last year. A lot of taxpayers are finding reduced refunds or other surprises this year, for many different reasons.

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Depreciation options

Dear GP CPA Client: We are wrapping up the Company’s tax returns and would like to make you aware of an option that the Company is eligible to make based on the new tax laws passed in 2017.

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GP CPA 2018 Year End Calendar

GP CPA exclusively uses Gusto for our payroll processing and we couldn’t be happier with them. We encourage you to check out Gusto and see if it might make your payroll experience more pleasant.

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Drive Time Increases Odds of Deducting Rental Property Losses

Your rental properties provide tax shelter when you can deduct your losses against your other income. One step to deducting the losses is to pass the tax code’s 750-hour test. And one step to finding the hours you need to pass the time test may be your drive times.

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Automation in the automotive industry

At GP CPA, we work with several clients in the automotive field, from classic car restorations to rebuilding transmissions, this part of the economy has been stable for a while.

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Foreign accounts and the IRS

One of the key elements of the case against Mr. Manafort is the lack of proper reporting of foreign income or control over foreign bank accounts.

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Test Your Knowledge About NC Sales Tax in Automotive, Retail and HVCA.

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