The GPL Blog
Individual Tax Identification Number IRS Update to CAA Rules and ITIN’s Certifying Acceptance Agents (CAA) are more in demand than ever been. However, their ability to perform the much needed service to resident taxpayers has been limited by the IRS to certifying the...read more
The Importance of Maintaining Accurate Business and Personal Records As a tax accountant, I spend countless hours preparing personal and business tax returns. I also, spend much of my time explaining what information is to be maintained within the records used for all...read more
The Congressional budget estimates a deficit of $590 billion for fiscal year 2016 with federal tax revenues reaching $3.3 trillion. Based on this estimate, the 2016 budget exceeds the 2015 budget by $152 billion. Now that I have infuriated so many people (please...read more
GPL: Keeping You in the Know ITIN Changes & Renewals As you may recall, The Protecting Americans from Tax Hikes (PATH) Act of 2015 overhauled the Individual Tax Identification Number (ITIN) rules and procedures. One of the major changes was the induction of the...read more
Does your child need to file a tax return? As parents, we all try to do the responsible thing and put money away and/or create investment accounts for our children. A great thing is when the money starts making more money. Everyone likes that. As adults, we know we...read more
Updated Deadlines Time constraints…who hasn’t felt the pressure of this? They’re everywhere, and there seems to be more and more of them these days. Recently, the IRS announced changes to the submission deadlines for W-2 forms and the W-3 transmittal with the Social...read more
Washington State Clean Alternative Fuel Credit Expansion The State of Washington recently announced certain business credits available in 2016. Beginning July 1, 2016, if your business purchases, leases or modifies a commercial vehicle to run on alternative clean...read more
Have you filed your FBAR? If not, it’s okay, there is still time as the due date is June 30th. Here is a short guide to help you with your efforts in gathering the information and understanding why you are filing this report. FBAR Rules and Definitions The Report of...read more
A ruling 41 years in the making…The Department of Labor has announced its finalization of economic reforms. One of those being the salary threshold. At present the threshold is $23,660 increasing to $47,467 on December 1, 2016. This has left businesses scrambling to...read more
As the owner of a business, you are aware of the never ending expenses of conducting business. What happens if you or an employee must absorb some of the business expenses? Accountable Plan vs. Non-Accountable Plan An accountable plan is one for which an employee is...read more
GPL Tax & Accounting is here to handle your personal and business tax preparation and planning needs. We can also handle your bookkeeping and accounting requirements. GPL provides all the tools and know-how you need to be in the best tax position while staying compliant with all tax regulations.
Is rental income taxable?
What is the difference between Form 1040 and Form 1040EZ?
What is the difference between Form 1040A and Form 1040NR?
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