GKG CPAs Blog

Why You Should Be Taking a
Year-end Physical Inventory

Inventory – the Good, the Bad and the Ugly Taking a year-end physical inventory takes time, resources and can interrupt your daily business activities. Finding time at year-end to count…

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5 Things To Do When an IRS Letter Appears in Your Mailbox

Receiving a letter from the IRS is unsettling and stressful. Often times, when people receive such a letter, they immediately think that something is wrong and that money is owed….

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The Backdoor Roth IRA

Choices when contemplating a contribution to an IRA account: There are two different options available for individuals who want to contribute to an IRA account, the Traditional IRA and the…

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Stricter Enforcement of Reporting Health Care Coverage on Your Tax Return

This upcoming tax filing season the Internal Revenue Service will no longer accept electronically filed tax returns if the return doesn’t properly report the health care coverage requirements of the…

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Long-Term Care Insurance…Too Often Overlooked

We insure our home, cars, life, and potential disability, but why do we overlook long-term care? We all know we need it, but we also really don’t want to think…

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Maximizing Financial Relief for Losses–
Before the Storm Hits

When one hears of a hurricane threat or other severe weather warning, often times the natural reaction is to go into planning mode. People generally make sure that they have…

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Should I Upgrade My QuickBooks?

“If it ain’t broke, don’t fix it…” can easily become one’s mantra when using QuickBooks for business accounting.  As users, once we establish a procedure for entering financial transactions, we…

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I’m Divorced, Now What?
Things To Do After Your Divorce Settlement

Don’t Forget to Follow up with These Important, but Often Overlooked Action Items The divorce papers are signed, it should be over, right? If only it were that easy. All…

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Shareholders’ Agreements
Personal Business Risk

One very controllable shareholder business risk may be easily and respectfully addressed by the preparation of a thoughtful shareholder buy-sell agreement. The agreement should identify and establish a solution by…

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Proper Business Insurance is a Must Have

I was recently chatting with a business associate who is experienced in the insurance industry.  He indicated that quite often business owners are not well informed of the types of…

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