GKG CPAs Blog

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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Non-Profits and the Impact of
ASU No. 2016-14 Presentation of Financial Statements of Not-for-Profit Entities

In August 2016 the FASB issued a new Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statements of Not-for-Profit Entities which contains changes in reporting requirements that will significantly affect how Non-Profits…

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Paid Family Leave Act:
What New York State Employers Need to Know

New York Employers Must Prepare for Paid Family Leave Act On July 19, 2017, Governor Cuomo announced final regulations implementing New York’s Paid Family Leave Program.  The program will provide…

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You Filed a Tax Extension in April
Now What?

You filed a Federal Form 4868 requesting a six-month extension to file your individual income tax return, you may be wondering what’s next.  Filing the extension on time by April…

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Occupational Fraud and Abuse 2016 Report by the ACFE Summary Findings

The Association of Certified Fraud Examiners (“ACFE”) published its annual report on occupational fraud and abuse covering the results from its survey analyzing the results of over 2400 cases of…

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Knock Knock. Who’s There? What To Do When Faced with a Business Tax Audit

No matter how accurate you think your accounting records are and how hard you try to follow all the rules, when we get those IRS audit letters in the mail,…

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