/Tag: tax planning

Tips to determine “reasonable compensation” for corporate business owners

By |2021-04-23T19:30:56+00:00April 23rd, 2021|Categories: Articles, Audit & Accounting, Business Advice, Tax Planning|Tags: , , , , , , , |

How to determine "reasonable compensation" for corporate business owners

Tax Relief Update Due to COVID-19 Pandemic: Federal and California April 15th Filing Date Pushed back to July 15, 2020

By |2020-04-27T23:21:35+00:00March 20th, 2020|Categories: Blog, COVID 19, News|Tags: , , , , |

The Internal Revenue Service (IRS) and the California Franchise Tax Board (FTB) addressed tax relief measures for taxpayers affected by the coronavirus pandemic. These measures include a 90-day extension of time to file federal individual and business tax returns and pay certain federal income tax payments to July 15, 2020 and a 90 to [...]

News Alert Regarding COVID-19 Implications to GS Inc. Clients

By |2020-04-27T23:21:14+00:00March 18th, 2020|Categories: Blog, COVID 19, News|Tags: , , , , |

At a press conference today, U.S Treasury Secretary Mnuchin announced extensions for federal income tax payments for individuals and business owners due the effects of COVID-19 on the nation. Individuals and businesses with an April 15, 2020 filing deadline will be given an additional 90 days (July 15, 2020) to pay the taxes they [...]

Many Taxpayers Will Pay No Tax on Long-Term Gains and Dividends

By |2018-10-12T18:14:28+00:00October 8th, 2018|Categories: Tax Cuts and Jobs Act, Tax Planning|Tags: , , , , , |

Do you have long-term capital gains or qualified dividends? If so, there's good news: After the Tax Cuts and Jobs Act (TCJA), you might still qualify for the 0% federal income tax rate on these types of income. The rate is only available for those with relatively low income. But, if your income is too high [...]

Divorce and Your Taxes

By |2020-06-05T18:59:45+00:00August 29th, 2016|Categories: Tax Planning|Tags: , , |

If you are divorcing or recently divorced, taxes may be the last thing on your mind. However, these events can have a big impact on your wallet. Alimony and a name or address change are just a few items you may need to consider. Here are some key tax tips to keep in mind: Child [...]

The Adoption Tax Credit: 10 Things You Need to Know

By |2020-03-01T04:17:22+00:00March 16th, 2016|Categories: Articles, Tax Planning|Tags: , , , , |

IRS UPDATE: If you adopted or tried to adopt a child in 2015, you may qualify for a tax credit. Here are ten things you should know about the adoption credit. 1. Options. The credit is nonrefundable. This means that the credit may reduce your tax to zero. If the credit is more than your tax, [...]

Tax Planning for Every Age

By |2017-05-24T13:42:13+00:00December 9th, 2015|Categories: Tax Planning|Tags: , , , , |

Many tax provisions are linked to age. Whenever there’s a birthday in the family, you may want to check for changes to take into account as you do your tax planning.

GS Tax Alert: Tax Implications for Same-sex Married Couples from U.S. Supreme Court Decision

By |2017-05-24T13:42:16+00:00June 29th, 2015|Categories: News, Tax Planning|Tags: , , , , |

On June 26, the U.S. Supreme Court issued another landmark decision on same-sex marriage. In Obergefell v. Hodges, the Court ruled that same-sex couples have a constitutional right to marry, making same-sex marriage legal in all 50 states. This 5-4 decision will affect tax and estate planning for many same-sex married couples and also impact their employers.

6 Summertime Tax Tips

By |2017-05-24T13:42:16+00:00June 17th, 2015|Categories: Tax Planning|Tags: , , , , |

Taxes are probably not what comes to mind when thinking about summer. But you may be surprised at some of the ways you can reduce your 2015 income taxes. Consider these summertime strategies.

Show Buttons
Hide Buttons