CA Disaster Victims may be Eligible for Property Tax Relief

By | 2018-02-16T22:22:52+00:00 February 7th, 2018|News, Tax Planning|

California has been hit by several disasters over the past year.  Victims may be eligible for various types of relief, but perhaps least known is California property tax relief. What is Property Tax Basis? Property taxes can be significant in California.  Our high property values mean the related taxes are often a sizable amount.  Our [...]

The IRS Issues Updated 2018 Tax Withholding Tables

By | 2018-01-18T19:44:59+00:00 January 18th, 2018|News|

Due to the passage of the Tax Cuts and Jobs Act (TCJA) late last year, the IRS has released updated 2018 tax withholding tables, which is one of the first critical steps to institute the law’s overhaul of the federal income tax regime. These tables indicate how much employers should hold back from their employees’ [...]

GS Principal Pradeep Budhiraja Promoted to Shareholder

By | 2018-01-05T18:25:29+00:00 January 4th, 2018|News|

Gumbiner Savett Inc. is pleased to announce that Pradeep Budhiraja, CPA has been named a shareholder of the firm effective January 1, 2018. “Pradeep has been a valuable member of the firm for the past 17 years and is well respected among his clients and peers. We are proud that he is joining the shareholder [...]

Highlights of the new tax reform law

By | 2018-04-09T23:34:23+00:00 December 21st, 2017|News, Tax Cuts and Jobs Act|

The new tax reform law, commonly called the “Tax Cuts and Jobs Act” (TCJA), is the biggest federal tax law overhaul in 31 years, and it has both good and bad news for taxpayers. Below are highlights of some of the most significant changes affecting individual and business taxpayers. Except where noted, these changes are [...]

House and Senate tax reform bills head to reconciliation

By | 2017-12-08T00:13:16+00:00 December 8th, 2017|News|

Early in the morning on December 2, the U.S. Senate passed its version of the Tax Cuts and Jobs Act by a vote of 51 to 49. The U.S. House of Representatives passed its own version of the tax reform bill on November 16, and a conference committee of representatives from both houses of Congress [...]

Looming tax reform creates year end tax planning challenges

By | 2017-10-26T18:45:12+00:00 October 26th, 2017|News|

As the end of 2017 approaches, the prospect of dramatic tax reform could mean year end tax planning challenges for businesses. In late September, the Trump administration and Republican congressional leaders unveiled their Unified Framework for Fixing Our Broken Tax Code. The framework proposes reduced tax rates for businesses and changes to a variety of business [...]

An overview of the GOP’s proposed tax reform plan

By | 2017-10-03T23:17:42+00:00 October 3rd, 2017|News|

Last Thursday, President Trump and Senate Republicans turned their attention to tax reform by releasing an outline of their long-awaited tax reform plan. The nine-page “Unified Framework for Fixing Our Broken Tax Code” is intended to serve as a template for the congressional committees to draft legislation to cut tax rates, simplify the tax code [...]

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 [...]

Accounting News: FASB Issued Proposal for Consolidation of Variable Interest Entities

By | 2017-07-25T00:25:38+00:00 July 25th, 2017|News|

On June 22, 2017 FASB proposed an Accounting Standards Update (ASU) to simplify and improve financial reporting associated with consolidation of variable interest entities (VIEs) for private companies. Concerns: Private company stakeholders, Private Company Council (PCC), continue to express difficulty in applying VIE guidance to common control arrangements and requested that FASB address certain areas [...]

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