Stories and Opinions From Our Tax Experts.
GP CPA was featured on WCNC Charlotte about “Are Unemployment Benefits Taxable?”
We are glad to inform you that Justin Prusiensky, Chief Executive Officer of the GP CPA P.C. was featured on WCNC Charlotte coverage about “Are Unemployment Benefits Taxable”.
Good Riddance, 2020
What is new in 2021? Meals in 2021 are once again 100% deductible, the next round of PPP funding is coming and the Employee Retention Credit (ERC) has been changed.
NC Sales Tax
Tax Cuts and Jobs Act (TCJA)
Qualified Business Income (QBI)
Home Office Deduction
How to Persuade Clients to Change Banks. Listen to Justin Prusiensky’s Guest Appearance on the Relay Financial Webinar
Our expert accountant Justin Prusiensky was recently interviewed as a guest speaker by Relay Financial to discuss how to persuade clients to change banks.
What Tax Breaks Changed From 2018?
Congress extended some of the tax breaks retroactively to January 1, 2018. They now expire on December 31, 2020. Learn more about tax breaks that have been extended.
Tax Planning with GP CPA
GP CPA offers a wide range of business advisory services that are tailored to the needs of business owners. For those small businesses who need someone to keep the books, we can do that.
Your Business Payroll in 2020
Take control back from the big box payroll companies and work with someone who can guide you to a better payroll process. GP CPA + GUSTO is the modern way payroll runs and the partnership that moves your business forward.
Moving at the speed of business
GP CPA has relied on cloud-based accounting technology for many years now and devotes a significant amount of time toward testing and learning the latest and greatest systems out there.
Dear Client, I have good news!
Since we now have less than 90 days left in the year, kindly keep me apprised of when you expect the major revenue collections to be during the next few weeks and we can adjust accordingly.
Certified Financial Planner
Affordable Care Act (ACA)
Meet Michael R. Acosta, CFP® (Certified Financial Planner)
A CFP® is a Certified Financial Planner professional that focuses on taking a holistic approach to goals-based planning.
Q&4 – The all important Q4 is almost upon us…
While it may not feel like Fall is anywhere close by, the date tells us that we have barely 100 days left in the year.
IRS has begun sending letters to virtual currency owners advising them to pay back taxes, file amended returns; part of agency’s larger efforts
IRS has begun sending letters to taxpayers with virtual currency transactions that potentially failed to report income and pay the resulting tax from virtual currency transactions.
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.
Changes at GP CPA
We have changed the name of our firm to GP CPA, P.C. effective March 2019. “Gary M Prusiensky, CPA, P.C.” and “GMP CPA” had a substantial overlap on Google search with another CPA firm in Texas and we needed to act before Google acted for us.
Court-Approved Way to Defeat IRS Penalties
Like you, GP CPA does not like IRS penalties. That’s why we keep you up to date on new ways you can beat the IRS at its penalty game.
NC Sales Tax Quizes
GP CPA Client’s Letter – May 2019
Dear Client: It was good seeing you both again. Each time we meet the numbers and growth are getting better and better.
Wonder how GP CPA’s “takeout drawer” looks after the end of tax season?
This is what the GP CPA “takeout drawer” looks like after tax season ends…
GMP CPA is now a GP CPA, P.C.
GMP CPA (aka Gary M Prusiensky, CPA, P.C.) has now officially become “GP CPA, P.C.” Since 1996 GP CPA has served the greater Charlotte area with accounting, tax, and payroll services in one form or another.
Extensions season continues…
GP CPA recently had an opportunity to speak with Tina Orem, author and journalist at Nerd Wallet, about personal income tax extensions.
What the Section 199A is about in new Tax Cuts and Jobs Act (TCJA) tax reform
The Tax Cuts and Jobs Act tax reform added new tax code Section 199A, which created a 20 percent tax deduction possibility for you if your rental property (a) has profits and (b) can qualify as a trade or business.
Employee Recreation and Parties Survive TCJA Tax Reform
When you know the rules, you can party with your employees and deduct 100 percent of the cost. Interestingly, if you feed your employees during a training program, your deduction is only 50 percent.
Test your knowledge about NC Sales Tax for HVAC Services [QUIZ]
If your business involves repairs, maintenance, or installation services related to vehicles then this quiz will test your knowledge of current NC sales tax law for HVAC.
Are you a Retailer? Test your knowledge about Retailers NC Sales Tax! [QUIZ]
If you business sales tangible items to the public this quiz will test your knowledge of current NC sales tax law.
Test your knowledge about NC Sales Tax for Automotive Services [QUIZ]
If your business involves repairs, maintenance, or installation services related to vehicles then this quiz will test your knowledge of current NC sales tax law.
A recipe for taxes…
If your current accountant is not the advisor you hoped them to be, or you want more dark chocolate M&Ms in your life, GP CPA would love to talk to you about your business.
Unlocking value in real estate
While real estate may hold great value, many real estate purchases end up feeling more like the Money Pit when investors discover all the money they invested in their commercial real estate is not tax deductible in the year paid.
What S Corporations and C Corporations should consider
The battle of supremacy between S & C corporations continues to rage with the new tax law changes.
NC Sales Tax
State and local taxes (SALT) are often more complex than the IRS tax law and represent one of the largest compliance burdens that a business faces.
Pros and Cons of 401(K) Loans & The Tax Impact of a Child’s Investment Income
Investing can teach kids about the time value of money, the importance of patience, and the rise and fall of business success. But it can also deliver a harsh lesson to parents who aren’t fully prepared for the tax impact.
Home Office Deduction & Household Employees
One of the great things about setting up a home office is that you can make it as comfy as possible. And the other is Home Office Deduction