The Inflation Reduction Act: what’s in it for you?

Wednesday, September 14, 2022
You may have heard that the Inflation Reduction Act (IRA) was signed into law recently. ... Read More

Inflation Reduction Act provisions of interest to small businesses

Wednesday, September 07, 2022
The Inflation Reduction Act (IRA), signed into law by President Biden on August 16, contains many provisions related to climate, energy and taxes. ... Read More

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