Three tax breaks for small businesses

Wednesday, August 24, 2022
Sometimes, bigger isn’t better: Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to larger businesses. ... Read More

Estimated tax payments: Who owes them and when is the next one due?

Wednesday, August 17, 2022
If you don’t have enough federal tax withheld from your paychecks and other payments, you may have to make estimated tax payments.... Read More

Is your withholding adequate? Here’s how to check

Wednesday, August 03, 2022
When you filed your federal tax return this year, were you surprised to find you owed money? ... Read More

2022 IPA 300 Firm

Wednesday, August 03, 2022
GMP has been recognized as one of Inside Public Accounting's Top 300 Firms. ... Read More

How to avoid the early withdrawal tax penalty on IRA distributions

Wednesday, July 27, 2022
When you take withdrawals from your traditional IRA, you probably know that they’re taxable. ... Read More

Congrats to our Staff!

Tuesday, July 26, 2022
We would like to congratulate some of our staff!... Read More

The kiddie tax: Does it affect your family?

Tuesday, July 19, 2022
Many people wonder how they can save taxes by transferring assets into their children’s names. This tax strategy is called income shifting. It seeks to take income out of your higher tax bracket and place it in the lower tax brackets of your children.... Read More

Help when needed: Apply the research credit against payroll taxes

Wednesday, July 13, 2022
Here’s an interesting option if your small company or start-up business is planning to claim the research tax credit. Subject to limits, you can elect to apply all or some of any research tax credits that you earn against your payroll taxes instead of your income tax. This payroll tax election may influence some businesses to undertake or increase their research activities. On the other hand, if you’re engaged in or are planning to engage in research activities without regard to tax consequences, be aware that some tax relief could be in your future.... Read More

Vehicle expenses: Can individual taxpayers deduct them?

Thursday, July 07, 2022
It’s not just businesses that can deduct vehicle-related expenses on their tax returns. Individuals also can deduct them in certain circumstances. Unfortunately, under current law, you may not be able to deduct as much as you could years ago.... Read More

2022 Q3 tax calendar: Key deadlines for businesses and other employers

Tuesday, June 28, 2022
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements.... Read More