Archives

19
Jul

5 little-known tax surprises you should be planning for now

Many people have similar tax situations from year to year, and so they become familiar with the rules and regulations that apply to their personal finances. However, changes in your situation or once-in-a-lifetime events can often have significant tax implications. Here are some of the lesser-known elements of our tax code that tend to trip …

21
Jan

GCT is a Hubdoc Top 50 Cloud Accountant

A couple of weeks ago, we announced that Shelly Lingor, Director of Technology Solutions for GCT Technology & Accounting, was joining the partnership. Shortly after that, Shelly and her team at GCT were recognized as a Hubdoc Top 50 Cloud Accountant. Getting into this elite group requires demonstrating solid client results and a strong commitment …

3
Jan

Virtual accounting services grow with new partner

We are pleased to announce that Shelly Lingor has been named Partner at GunnChamberlain, P.L. In the past two years, Shelly has taken our technology side, GCT Technology & Accounting, from concept to reality. Virtual accounting services are the clear path to growth, not just for our firm, but also for our clients. By bringing …

25
Sep

FAQ on the ACA Forms and Deadlines

We have been receiving a lot of questions in our office about the ACA forms due October 1 to be distributed to all employees.  We would like to take a moment to answer those questions and others with our own FAQ on the ACA forms and deadlines: 1. Do these forms need to be distributed …

3
Jul

Healthcare Reprieve for Small Businesses

For years now one of the biggest fears with the Affordable Care Act has been that people might see delays in service due to higher volumes of patients.  Instead we are seeing a much more welcome delay: a delay in the implementation of penalties for businesses who don’t comply.  The Obama administration has given a …

18
Jun

TD 90-22.1 Deadline Shouldn’t Be Missed

Tax penalties for late filing can be pretty hefty.  However, the potential penalties for not filing one recently created form can be as much as $250,000 and up to five years in jail.  That’s why the TD 90-22.1 deadline shouldn’t be missed.  At this point you may be asking yourself just what is a TD …

28
Jan

Form 1099-K Is Back

Like a sequel to a cheesy horror flick, Form 1099-K is back and you may see one coming to a mailbox near you.  Don’t panic, just send it to us.  Form 1099-K is used by third party merchant services companies, such as American Express or Paypal, to report your credit card receipts for the year …

16
Jan

IRS Simplifies Home Office Deduction for 2013

While most things having to do with taxes and the IRS tend to go from simpler to more complex, occasionally the IRS does something to make our lives easier.  In this case, the IRS has simplified how we can calculate the Home Office Deduction.  Rev. Proc. 2013-13 outlines a safe harbor calculation to replace the …

2
Jan

Fiscal Cliff Deal Reached

Late at night on New Years day, Congress voted to approve the Fiscal Cliff deal worked out by the Senate late the night before.  In a last minute vote, Republicans were able to add enough votes to pass the bill and send it on to the President.  The result of the deal is an extension …

26
Nov

A New Definition of Full-Time

One of the aspects of the Patient Protection and Affordable Care Act that is set to go into effect in 2014 is the additional penalty tax on businesses who do not offer affordable health insurance and have 50 or more full-time employees.  As a result of this pending implementation, many larger businesses are working now …

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