Opinions and News About Taxes
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.
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.
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.
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.
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.
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.
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.
We are approaching mid-year (for those of us on a calendar year…) and enough time has passed that we can reflect back on some of the technology that GP CPA has been using and is no longer using in 2019.
Dear Client: It was good seeing you both again. Each time we meet the numbers and growth are getting better and better.
GP CPA recently had an opportunity to speak with Tina Orem, author and journalist at Nerd Wallet, about personal income tax extensions.
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 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.
“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.
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.
GP CPA has an affinity for all things current events, and sometimes, just sometimes, they are not even tax-related.
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.
Your ownership of a pass-through trade or business can generate a Section 199A tax deduction of up to 20 percent of your qualified business income (QBI).
Working with family in a small business environment tends to be either very rewarding or makes for even more awkward holiday gatherings.
If you live in New England, New Jersey, New York, or California, an info-graphic confirms the pain you experience when it comes paying high state taxes (income AND sales taxes).
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.
An S-corporation is a federal tax election and can be formed from a regular company (a C-corp) OR an LLC.
At GP CPA we believe that surprises are best left to birthday parties, engagements, or random acts of kindness and definitely NOT taxes.
Test Your Knowledge About NC Sales Tax in Automotive, Retail and HVCA.
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.
If you business sales tangible items to the public this quiz will test your knowledge of current NC sales tax law.
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.