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One of the most misunderstood concepts that our clients find confusing every year around tax time has to do with business expenses, assets, and depreciation. Specifically, when you spend money on something for your business, how does that get reflected at tax time? Many people are familiar with the concept of depreciating assets, but it’s …

Many people elect to have their income withheld at a higher rate in order to receive a large tax refund each year. While we generally don’t advise giving the government an interest-free loan, many enjoy getting the big payback in April. For 2018, the first tax year under the Tax Cuts and Jobs Act (TCJA), …

Preparing for Year End As the end of the year approaches, it can be confusing to decide what information you need to get together and send to your accountant. We all know that January 1st will be here before we know it, so we have put somethings together to help your business out. To Prepare …

The contribution limits for various retirement plans such as 401(k) plans have changed for 2018. The amount you can save for these accounts has gone up. Other retirement accounts have remained the same. Here are the new limits for 2018: Contribution limits for 401(k), 403(b) and 457 plans Rise The annual limit on contributions for …

Growing Our Impact with the Help of Partners The response we’ve received from friends, clients, and local businesses wanting to help us with our 40 Families in the Virgin Islands project has been overwhelming. We’re so proud, and beyond blessed, to announce that we have partnered with two local businesses as drop off sites for …

Can you believe it is September already?  As we head towards the fourth quarter, it’s time to start thinking about the upcoming deadlines remaining this year.  There are tax deadlines coming up, and the deadline for implementing new Department of Labor regulations. September 15th: Third quarter estimate – If you have business income, investment income,  1099 income, or …

The second annual Pediatric Cancer Family Foundation Color Me Gold 5k is coming up on September 17th, 2016!  GunnChamberlain, PL is helping to sponsor this event again this year and we will have a team of runners at the event!  The Color Me Gold 5k is an opportunity to raise funds for PCFF’s mission.  September …

The new overtime regulations for full-time workers have passed.  Employers will now be required to pay time and a half for overtime if a full-time worker makes less than $47,476 per year.  While this is less than the originally proposed amount of $50,400, it it about double the previous threshold of $23,660.  If an employee works …

The IRS’ system for preventing identity theft has run into a bit of a problem.  Hackers have exploited the system to steal people’s identities.  Last week, there were reports that identity theft victims who had received their PINs from the IRS were finding that someone else had still managed to file a return under their name. …

In addition to providing excellent service, GunnChamberlain, PL has been named one of the 2016 Best Places to Work in Jacksonville, by the Jacksonville Business Journal.  Out of the hundreds of applicants, GunnChamberlain was one of a dozen honorees in the extra small category covering companies with 10-24 employees. In addition to benefits, wellness programs, …