GMP attends 2022 State of the City Luncheon as one of the main sponsors of the event

Friday, May 27, 2022
GMP attends 2022 State of the City Luncheon as one of the main sponsors of the event. ... Read More

Partners may have to report more income on tax returns than they receive in cash

Wednesday, May 25, 2022
Are you a partner in a business? You may have come across a situation that’s puzzling. In a given year, you may be taxed on more partnership income than was distributed to you from the partnership in which you’re a partner.... Read More

UT Tyler awards Kevin Cashion Distinguished Alumnus Accounting Award

Monday, May 16, 2022
Congratulations to our Partner, Kevin Cashion on receiving the “ UT Tyler Distinguished Alumnus Accoutning Award.” ... Read More

Businesses may receive notices about information returns that don’t match IRS records

Wednesday, May 11, 2022
The IRS has begun mailing notices to businesses, financial institutions and other payers that filed certain returns with information that doesn’t match the agency’s records.... Read More

Valuable gifts to charity may require an appraisal

Wednesday, May 04, 2022
If you donate valuable items to charity, you may be required to get an appraisal.... Read More

Once you file your tax return, consider these 3 issues

Thursday, April 14, 2022
The tax filing deadline for 2021 tax returns is April 18 this year. After your 2021 tax return has been successfully filed with the IRS, there may still be some issues to bear in mind.... Read More

2022 Q2 tax calendar: Key deadlines for businesses and other employers

Wednesday, April 06, 2022
Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2022. ... Read More

It’s almost that time of year again! If you’re not ready, file for an extension

Wednesday, March 30, 2022
The clock is ticking down to the April 18 tax filing deadline. Sometimes, it’s not possible to gather your tax information and file by the due date. If you need more time, you should file for an extension on Form 4868.An extension will give you until October 17 to file and allows you to avoid incurring “failure-to-file” penalties. However, it only provides extra time to file, not to pay. Whatever tax you estimate is owed must still be sent by April 18, or you’ll incur penalties — and as you’ll see below, they can be steep.... Read More

Establish a tax-favored retirement plan

Thursday, March 24, 2022
If your business doesn’t already have a retirement plan, now might be a good time to take the plunge. Current retirement plan rules allow for significant tax-deductible contributions.... Read More

Are you ready for the 2021 gift tax return deadline?

Friday, March 18, 2022
If you made large gifts to your children, grandchildren or other heirs last year, it’s important to determine whether you’re required to file a 2021 gift tax return. And in some cases, even if it’s not required to file one, it may be beneficial to do so anyway.... Read More