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.
How to Deduct Medicare as a Business Expense?
Premiums for Medicare health insurance can add up to a substantial sum. That’s especially true if: you have a high income, and you’re married and both you and your spouse are paying premiums.
March 2019 Tax Update. Home Office Deduction and QBI (Qualified Business Income)
When possible, you want to claim that your office in your home qualifies as a principal place of business because of this classification gives you the home-office deduction, andeliminates commuting from your home to your regular office.
Extensions
Extensions are a dirty word at our office. Nearly all of our clients are able to get their business’ books closed and personal tax information to us in plenty of time to make the filing deadlines.
Home Office Deduction – Walkthrough by GP CPA
Dear Client, the home office deduction is rather limited for your tax situation (and most people other taxpayers), especially in the trade-off between S-corp and schedule C.
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.
Intuit is raising their prices!
GP CPA’s arch-nemesis, Intuit, is raising prices across the board. That isn’t even the worst part, as Intuit will be offering “live” bookkeeping as an add-on service for their QBO subscribers.