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About Gumbiner Savett Editor

Gumbiner Savett Inc. editors are comprised of tax and audit practitioners ranging from manager to shareholder. They are dedicated to staying on top of the latest rules and regulations in the accounting and finance industry.

Outsourcing payroll might be beneficial to your business

By | 2017-09-20T19:36:54+00:00 September 20th, 2017|Business Advice|

Payroll reporting doesn’t have to be a laborious process- consider using an outside company to manage this function. There are outsourcing payroll pros and cons... here’s why payroll outsourcing may be beneficial and how a service audit can provide assurance about your payroll provider’s internal controls. Rewards and risks Payroll can be an administrative nightmare [...]

Gumbiner Savett Inc. Releases New Video Content

By | 2017-08-31T19:31:53+00:00 August 31st, 2017|News|

Santa Monica, CA – August 30, 2017 — Gumbiner Savett Inc., an accounting firm based in Santa Monica, has released new accounting video content that provides an overview of the firm’s philosophy and experience in audit and tax, real estate, venture backed companies and Silicon Beach startup and growth-oriented companies. The videos can be found [...]

Gumbiner Savett Inc. Announces July 2017 Promotions

By | 2017-07-31T19:45:29+00:00 July 31st, 2017|News|

Gumbiner Savett Inc. is pleased to announce the promotion of six employees to the next step in their career including Karla Chavez Luna, CPA, MST, a senior tax manager to a principal of the firm effective July 1, 2017. Other July 2017 promotions included those of Tara Wilson, CPA, promoted to senior tax manager; Joseph [...]

Avoid Summer Scams from IRS Impersonators

By | 2017-07-27T19:40:43+00:00 July 20th, 2017|Tax Planning|

This summer, the IRS issued new warnings that scams using the IRS as a lure continue. The most common scams are phone calls and emails from thieves who pretend to be from the IRS. They use the IRS name, logo or a fake website to try to steal your money. They may try to steal [...]

Get your financial statements on track

By | 2017-07-07T17:26:42+00:00 July 7th, 2017|Audit & Accounting|

Do you procrastinate when it comes to closing your books and deliver your year-end financial statements late? Lenders and investors may think the worst if a company’s financial statements aren’t submitted in a timely manner. Here are three assumptions your stakeholders could make when your business has a late financial statement. 1. You’re hiding negative results No [...]

Is a charitable lead trust right for your family?

By | 2017-06-22T18:49:02+00:00 June 22nd, 2017|Estate & Trusts|

Families who wish to give to charity while minimizing gift and estate taxes should consider a charitable lead trust (CLT). These trusts are most effective in a low-interest-rate environment, so conditions for taking advantage of a CLT currently are favorable. Although interest rates have crept up in recent years, they remain historically low. 2 types [...]

How can your company’s income statement improve business operations?

By | 2017-06-15T00:29:43+00:00 June 15th, 2017|Audit & Accounting|

By midyear, most businesses that follow U.S. Generally Accepted Accounting Principles (GAAP) have issued their year-end financial statements. But how many have actually used them to improve business operations in the future? Producing financial statements is more than a matter of compliance — owners and managers can use them to analyze performance and find ways [...]

FASB Revises Reporting Requirements for Employee Share-Based Payments

By | 2017-06-01T00:16:33+00:00 June 1st, 2017|Audit & Accounting|

Has your company found the process of reporting share based payments, such as employee stock options and restricted stock, overly complex? The Financial Accounting Standards Board (FASB) agrees — and it has simplified the rules starting in 2017 for public companies and 2018 for private companies. Here’s how. Old rules Under current U.S. Generally Accepted [...]

Map your company’s success with pro forma financials

By | 2017-05-24T13:41:54+00:00 May 16th, 2017|Audit & Accounting|

Running a business is like going on a road trip — and a detailed business plan that includes a set of pro forma financials can serve as a road map that improves your odds of arriving on time and on budget. If your plan doesn’t cover the prospective quantitative details in pro formas, expect to [...]

Trump Administration’s 2017 Tax Reform Outline – A Wolters Kluwer Tax Briefing

By | 2017-06-01T17:17:26+00:00 May 5th, 2017|News|

From the briefing: "President Trump has unveiled a tax reform outline- the "2017 Tax Reform for Economic Growth and American Jobs". The outline calls for dramatic tax cuts and simplification: lower individual tax rates under a three-bracket structure, doubling the standard deduction, and more than halving the corporate tax rate; along with changing the tax [...]

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