GP CPA P.C.
Stories and Opinions From Our Tax Experts.
Why We Use Relay Financial—And Why You Might Want to, Too
At GP CPA, we’re always on the lookout for tools that help small business owners save time, stay organized, and keep cash flow running smoothly. One of those tools? Relay Financial—and we don’t just recommend it, we use it ourselves.
Starting a Business in North Carolina or South Carolina?
Starting a business is exciting—it’s also a little like setting out on a road trip without a map (or GPS) if you’re not prepared. You might end up in a great place by sheer luck, but chances are, you’ll hit a few dead ends or take longer than necessary to get where you want to go. That’s where we, the CPAs and business advisors, come in handy.
Trending Topics
NC Sales Tax
Tax Cuts and Jobs Act (TCJA)
S-Corporations
Qualified Business Income (QBI)
Taxes
Guides
Home Office Deduction
Xero
Don’t Panic: What to Do When You Get a Tax Notice
Picture this: You’re sifting through the mail, dreaming about coffee or a vacation, and then—bam! There it is. An ominous letter from the IRS or your state tax agency. Before you launch into a full-blown panic spiral, let’s talk through what this means and how to handle it. Spoiler alert: ignoring it won’t make it disappear.
Why Waiting Until January to Find a New CPA is Too Late
As a small business owner, managing your financial health is crucial not only for your business but also for your personal wealth. Yet, many business owners make a critical mistake—they wait until January to start searching for a new Certified Public Accountant (CPA).
I received funds from the Restaurant Revitalization Fund (RRF) program, now what do I do with the money?
First off, the funds are expected to be spent before the end of 2021, as an annual report to the SBA will be required at some point in the future. We are still waiting for guidance from the SBA regarding what this annual report will look like. It may make sense to draft a spending plan or budget to make sure all of the funds are spent on time and in accordance with the program rules. GP CPA can help you with this planning, so you can prevent a surprise surplus of funds. Spend wisely and timely!
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”.
The Employee Retention Credit (ERC)
The Employee Retention Credit (“ERC”) has had some upgrades and retrofits to some of the basic calculations with the most recent (12.27.20) CARES Act changes.
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.
Certified Financial Planner
Audit Management
Audit Management
Gusto
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.
GP CPA Charlotte Sales Tax News Update
As many area businesses know Charlotte Sales Tax rate is either 2%, 7.25%, or 8.25% and what rate belongs to your business is based on what the business is selling.
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.
NC Sales Tax Quizes
Accounting
Extension
Cost Segregation
Xero and electronic payment processing options (PayPal, Stripe, IntegraPay, Square, Plooto)
For clients that will use invoices as the primary method of billing, there are quite a few options for that are better than “the check is in the mail” (spoiler alert, it never is).
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.
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