Business and Farm Expenses
At tax time we like to see receipts for vehicles, large assets, or items financed through a loan for your business or farm.We rarely request any other receipts; for the sake of time and efficiency we generally focus on your summarized numbers. But we feel...
Making Your CPA More Valuable to You
GBE Clients,Previously, we found an interesting article online. The suggestions are still valid today. The author describes five ways to make a CPA more valuable to you. They are:• Build a relationship• Be organized• Don’t make assumptions• Consult your...
Estate Planning
We often hear questions about estate planning. Namely, does GBE offer this service? The answer is yes! While the bulk of estate documents are completed by an attorney, many estate and other tax planning considerations should be discussed with your...
Buying and Selling Property
We see many complicated tax transactions every year. One group of transactions that are particularly complex are property transactions. The buying and selling of land, buildings, and all other real estate has several tax implications for both the buyer and...
Financial Mistakes
We see a LOT of financial mistakes each and every year. We have the knowledge to help you avoid these pitfalls. Often the issue is not known to us until tax time…when it is too late.So to help you stay out of big problems this year, here is a list of tax...
Retirement Contributions
The deadline for contributions to your Traditional IRA, Roth IRA, SEP IRA and 401k contributions is April 18th. It takes time to process these funds, so it is recommended to complete your individual retirement contributions during the first week of April....
Identity Theft
Identity theft is a big problem, especially during tax filing season. Thieves use a technique called “phishing” to try and capture your personal information. Phishing is the use of fake emails or phone calls to confuse taxpayers into sharing vital...
Year End Charitable Giving – Timing Is Everything!
Many people procrastinate to the end of December in making charitable gifts. As midnight on December 31st looms, your GBE advisors have been known to receive calls from anxious clients questioning how to make year-end gifts to their favorite charities and...
Dependent Care Credit
Many parents utilize day care so they can work or look for work. If this applies to you, your costs may qualify for a federal tax credit or may be utilized in a dependent care flex spending account through your employer.Here are some things to know about...
New FAFSA Filing Date
We mentioned in our March Tax Tip that the deadline for FAFSA filing can be as early as March 1st each year. This is no longer true.FAFSA Deadline – NewStudents are now able to submit the FAFSA earlier. Under the current rules you may complete and submit a...