Congratulations to two of our shareholders for celebrating work anniversaries in November. Their longevity has contributed to the firm's success as GS Inc. continues to celebrate our 70th anniversary in 2020! Rick Parent, Managing Director and Audit and Accounting Shareholder, celebrated 15 years on November 7, 2020. Kevin Yardumian, Shareholder, will celebrate 30 years on [...]
Gumbiner Savett Inc. congratulates Valerie Colin, Karla Chavez Luna and Helena Song for being recognized as “Women of Influence in Accounting” in the Los Angeles Business Journal. The accolade is a result of the 2020 Accounting MOVE Project Report that looks at the inroads women accountants have made towards equality in the accounting field. “This [...]
Gumbiner Savett Inc. congratulates the newly promoted staff members as of July 2020. The firm promoted Tara Wilson to Tax Principal, Vivian Cha to Tax Senior Manager, Kimberlie Shiao to Audit & Accounting Senior Manager, Suresh Narayanamoorthy to Tax Manager, Kathryn Hoppers to Tax Senior, and Yvette Zhu and Megan Jiang to Audit & Accounting Seniors.
During the COVID-19 pandemic, many small businesses are strapped for cash. They may find it beneficial to barter for goods and services instead of paying cash for them. If your business gets involved in bartering, remember that the fair market value of goods that you receive in bartering is taxable income. In addition, if you [...]
Jon Shoemaker, a 25-year firm veteran takes the reigns Santa Monica, CA — June 16, 2020 — Jon Shoemaker, CPA, a shareholder for Gumbiner Savett Inc., was named leader of the firm's audit & accounting department as of June 1, 2020. A dedicated practitioner, Jon has managed and led numerous international accounting and income tax engagements [...]
Coronavirus law contains tax rules changes for improvements to interior parts of nonresidential buildings known as qualified improvement property (QIP).
We hope everyone can take time today to appreciate the sunny skies and beautiful weather as we all Stay Home in the current world we live in.
The IRS has reissued guidance providing relief from failure to make employment tax deposits for employers that are entitled to the refundable tax credits provided under two laws passed in response to the Coronavirus (COVID-19) pandemic.
The IRS Issues Answers to Frequently Asked Questions About the CARES Act Employee Retention Tax Credit
The recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a refundable payroll tax credit for 50% of wages paid by eligible employers to certain employees during the COVID-19 pandemic. The employee retention credit is available to employers, including nonprofit organizations, with operations that have been fully or partially suspended as a [...]