/Blog

Gumbiner Savett Inc. Announces a New Departmental Leader

By |2020-01-15T22:26:54+00:00January 15th, 2020|Blog, News|

Gumbiner Savett Inc., a full-service public accounting firm based in Southern California, has a new leader for its tax department. Valerie Colin, a senior tax shareholder in the firm, will now hold the position. David Thaw, CPA, MST, also a tax shareholder, steps down after seven years at the helm.   Thaw is also the co-leader [...]

Major Changes to IRA Rules

By |2020-01-09T17:11:33+00:00January 9th, 2020|Blog, News|

The SECURE Act (Setting Every Community Up for Retirement Enhancement) was signed into law on December 20, 2019.  The Act contains major retirement related provisions aimed at expanding retirement savings.  The provisions apply to both employers and to individuals, and will have wide-ranging impact on both retirement planning and estate planning. This article will focus [...]

It’s time to reexamine your sales tax compliance in a post-Wayfair world

By |2020-01-07T23:20:04+00:00January 7th, 2020|Blog|

In its 2018 decision in South Dakota v. Wayfair, the U.S. Supreme Court upheld South Dakota’s “economic nexus” statute, expanding the power of states to collect sales tax from remote sellers. Today, nearly every state with a sales tax has enacted a similar law, so if your company does business across state lines, it’s a [...]

The GS team donates winter coats for its holiday charity

By |2020-01-17T01:25:54+00:00December 24th, 2019|Blog, Firm Happenings|

This year Gumbiner Savett chose One Warm Coat as its charity. People brought in coats from home and gave money towards the charity. The collected coats were delivered locally to help our neighbors in need this winter.   About One Warm Coat One Warm Coat is a national non-profit organization that works to provide a [...]

New Rules for Independent Contractors

By |2020-01-24T19:39:56+00:00December 19th, 2019|Blog, News|

California’s new AB 5 law, also known as the Dynamex bill, is changing the landscape of worker classification in the state.  The legislation has left business owners, and the workers they use, scrambling to understand the facts and how it will apply to them.  The new rules are complex and are not uniform across different [...]

Receive tax breaks while showing your holiday spirit with gifts and parties

By |2019-12-18T17:47:10+00:00December 18th, 2019|Blog, News|

With Thanksgiving behind us, the holiday season is in full swing. At this time of year, your business may want to show its gratitude to employees and customers by giving them gifts or hosting holiday parties. It’s a good idea to understand the tax rules associated with these expenses. Are they tax deductible by your [...]

A couple of tax saving tools for your business at the year’s end

By |2019-12-18T00:25:53+00:00December 18th, 2019|Blog, News|

At this time of year, many business owners ask if there’s anything they can do to save tax for the year. Under current tax law, there are two valuable depreciation-related tax breaks that may help your business reduce its 2019 tax liability. To benefit from these deductions, you must buy eligible machinery, equipment, furniture or [...]

GS Shareholder Michael Savoy Elected as Vice President of the California Board of Accountancy Board

By |2019-12-17T18:35:16+00:00December 17th, 2019|Blog|

Gumbiner Savett Inc., is proud to announce that its shareholder, Michael Savoy, CPA, CGMA, has been elected by the California Board of Accountancy (CBA) to serve as Vice President of the board for the 2019-2020 year. His term began last month. “Michael’s dedication to the profession and to the California Board of Accountancy is commendable,” [...]

Tax Benefits of Alternative Fuel Vehicle Refueling Property

By |2019-12-12T22:05:05+00:00December 12th, 2019|Blog|

Once upon a time, any “hybrid vehicle” would qualify the owner for a generous income tax credit and give the owner authorization to drive in carpool lane without a passenger, without fear of getting a ticket. Current Tax Benefits But now in 2019, in order to get both of these favorable benefits, the owner of [...]

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