/News

Gumbiner Savett Recognized by the Los Angeles Business Journal

By | February 24th, 2017|News|

Gumbiner Savett Inc., a Santa Monica-based full-service accounting, taxation and consulting firm, was recently named the twentieth largest “Accounting Firm” in the city by the Los Angeles Business Journal. The full list of top accounting firms was published in the February 13-19, 2017 issue. “At Gumbiner Savett, we strive to be a leader in the [...]

5 tax planning considerations during the Trump administration

By | February 17th, 2017|News, Tax Planning|

There is a lot of speculation about how tax law may change with the new administration being very vocal about the need for tax reduction. Most agree that changes are coming, the question is if any changes will take effect retroactively to cover the 2017 year, or if 2018 would be the target start date. [...]

Michael Savoy, CPA elected as Vice President of the California Board of Accountancy for 2017

By | December 1st, 2016|News|

Michael Savoy, CPA, CGMA, a long-time shareholder in Santa Monica-based Gumbiner Savett Inc., has been elected vice-president of the California Board of Accountancy (CBA) for 2017. “I am so honored to remain a part of the CBA leadership team,” stated Savoy, “I’m looking forward to my year as vice-president and the opportunity to continue working [...]

Gumbiner Savett Inc. adopts casual dress code

By | October 31st, 2016|News|

Gumbiner Savett Inc. has joined its start-up neighbors in the surrounding area by relaxing its employee dress code. “This decision came from the managing partner down, and really serves as an example that our leadership values the input of all firm employees,” said Director of HR and Practice Development, Irene Valverde. After years of being [...]

IRS announces 2017 COL adjustments affecting pension plans

By | October 28th, 2016|News|

The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2017.  The IRS today issued technical guidance detailing these items in Notice 2016-62. Highlights of changes for 2017 The income ranges for determining eligibility to make deductible contributions to traditional Individual Retirement [...]

Gumbiner Savett Inc. Launches New Website

By | October 25th, 2016|News, Uncategorized|

Gumbiner Savett Inc., an accounting firm based in Santa Monica, has launched a newly revamped version of its website. The website, which is located at the same address of http://gscpa.com, went live on September 30th, 2016. “The new website is easy to navigate, and provides a more detailed overview of our services and culture, allowing [...]

IRS Proposed Regulations Target Gift and Estate Tax Planning Strategies

By | August 19th, 2016|Estate & Trusts, News|

The IRS has released proposed regulations that would close so-called tax loopholes that many wealthy taxpayers have used to minimize transfer taxes (such as gift and estate taxes) when transferring interests in a closely held family business to relatives. If finalized, the regulations would significantly limit the effectiveness of certain tax-saving vehicles, including family limited [...]

Porter Ranch Gas Leak and Your Taxes

By | July 20th, 2016|News|

The IRS has released Announcement 2016-25 related to the Porter Ranch gas leak at the Aliso Canyon natural gas storage facility.  The announcement declares that the IRS will not assess tax on reimbursements paid to, or on behalf of, the residents of affected area. The leak affected an entire community, causing widespread health issues and [...]

Tax Identity Theft on the Rise: Businesses and Individuals Beware

By | June 13th, 2016|News, Tax Planning|

Earlier this year, the U.S. Federal Trade Commission (FTC) reported there was an almost 50% jump in identity theft complaints in 2015. The primary driver of that spike, by far, was tax identity theft. The FTC received 490,220 complaints about identity theft last year, with tax identity theft accounting for 221,854 of the complaints. It’s [...]

Large Changes to Overtime Rules Handed Down by DOL

By | May 25th, 2016|News, Tax Planning|

The U.S. Department of Labor (DOL) has made dramatic changes to the determination of which executive, administrative and professional employees — otherwise known as “white-collar workers” — are entitled to overtime pay under the Fair Labor Standards Act (FLSA). The new rules will make it more difficult for employers to classify employees as exempt from [...]

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