Last week the IRS issued IR-2016-143 reminding employers that the filing deadline for Form W-2’s has changed. The Protecting Americans from Tax Hikes (PATH) Act, which was enacted last December, changes the employer filing deadline to January 31. In the past, employers had until the end of February or end of March, to send in […]
Cybersecurity Tips
Did you know October is National Cyber Security Awareness Month? The Department of Homeland Security notes this is an annual campaign to raise awareness about cybersecurity. We live in a world that is more connected than ever before. The Internet touches almost all aspects of everyone’s daily life, whether we realize it or not. Here […]
Welcome Kelly Dykema
In September, Kelly Dykema joined our team of professionals full time. She had completed an internship with us earlier this year. Kelly graduated from Hope College in May of 2016, and has recently passed the CPA exam. She enjoys assisting our clients with Quickbooks, and preparing tax returns. In her free time, Kelly enjoys spending […]
New IRS Guidelines on IRA Rollovers
The IRS recently published Revenue Procedure 2016-47. This revenue procedure makes it easier for individuals to qualify for a waiver when they miss the 60-day limit for an IRA rollover. If you take a distribution from an IRA, you can classify it as a rollover if you deposit the money back into an IRA within […]
Potential Tax Impact of Selling Your Home
Millions of people make the big decision to sell their home each year. According to realtor.org, 5,250,000 existing homes were sold in 2015. Like other major life decisions, the sale of your house has potential tax implications. Selling your house will result in a gain or a loss. The gain or loss is the difference […]
IRS Notices – What You Should Know
The IRS recently published Summertime Tax Tip 2016-05. This article provides taxpayers with some helpful tips on what they should know about the millions of letters the IRS send out every year. The letters are used to communicate with taxpayers about errors and changes to tax returns. A common reason for a letter is omitting […]
Become An Intern At GK
We’re currently searching for qualified internship candidates to join our team for the upcoming Tax Season (January – April 2017). As an intern at GK, you can expect to work on a diverse set of projects – tax returns, Form 1099’s, and personal property tax returns – and you’ll be busy from Day 1. We offer […]
Requesting a Prior Year Tax Return Transcript
Did you know that you can request a transcript of your tax return for the current year and the three prior years from the IRS? The transcript is free and provides almost all of the information that is found on your tax return. This can be useful if you need to look at prior year’s […]
Tax Tips For Students Working This Summer
Do you know a student that is working this summer? Below are some tax tips taken directly from IRS Special Edition Tax Tip 2016-11 that are important to keep in mind: Withholding and Estimated Tax. If you are an employee, your employer normally withholds tax from your paychecks. If you are self-employed, you may be […]
Required UIA Signage
In a recent Michigan Employer Advisor article, the Michigan Unemployment Insurance Agency reminds employers that they are required to post notice to employees about unemployment benefits available from the UIA. If your business is in the State of Michigan and has one or more employees, you are required to post notice regarding employment rights and […]