http://grossberg.com/ Take a look at our recent blog posts and client newsletter articles. en-us Tue, 01 May 2012 09:00:00 -0500 Tue, 01 May 2012 09:00:00 -0500 http://www.grossberg.com/newsletter.php#2 If you're cringing because you haven't filed a 2011 tax return yet, don't worry. It's not too late, and it's not as hard as you may think. Tue, 01 May 2012 09:00:00 -0500 http://www.grossberg.com/newsletter.php#2 http://www.grossberg.com/newsletter.php#4 Would you like to legally deduct every dime you spend on vacation this year? The five strategies outlined in this article will show you how. Tue, 01 May 2012 09:00:00 -0500 http://www.grossberg.com/newsletter.php#4 http://www.grossberg.com/newsletter.php#1 When you hire someone to work around the house or baby-sit your children, do you need to pay tax for them? Keep reading to find out. Tue, 01 May 2012 09:00:00 -0500 http://www.grossberg.com/newsletter.php#1 http://www.grossberg.com/newsletter.php#3 Tue, 01 May 2012 09:00:00 -0500 http://www.grossberg.com/newsletter.php#3 http://www.grossberg.com/blog.php?id=65 Our partners and staff members have been recognized for serving local agencies and advancing in their profession. Wed, 28 Sep 2011 09:00:00 -0500 http://www.grossberg.com/blog.php?id=65 http://www.grossberg.com/blog.php?id=50 Have you incurred adoption fees, court costs, attorney fees or other adoption related expenses? If so, you may be eligible to claim the adoption tax credit. Thu, 22 Sep 2011 09:00:00 -0500 http://www.grossberg.com/blog.php?id=50 http://www.grossberg.com/blog.php?id=51 Sudden and unexpected financial circumstances may force an individual to withdraw IRA assets prematurely. You may be able to use an SEPP program to avoid early-distribution penalties. Thu, 22 Sep 2011 09:00:00 -0500 http://www.grossberg.com/blog.php?id=51 http://www.grossberg.com/blog.php?id=49 Fri, 01 Apr 2011 09:00:00 -0500 http://www.grossberg.com/blog.php?id=49 http://www.grossberg.com/blog.php?id=48 Tue, 11 Jan 2011 09:00:00 -0600 http://www.grossberg.com/blog.php?id=48 http://www.grossberg.com/blog.php?id=47 Grossberg Company LLP receives a pass rating from recent Peer Review. Tue, 11 Jan 2011 09:00:00 -0600 http://www.grossberg.com/blog.php?id=47 http://www.grossberg.com/blog.php?id=46 The recently passed Small Business Jobs Act of 2010 includes a package of business tax incentives which will impact businesses of many sizes, not just the "small business", and also includes some provisions for individuals. The vast majority of the provisions is effective retroactively and should have an immediate impact on the 2010 tax year... Wed, 03 Nov 2010 09:00:00 -0500 http://www.grossberg.com/blog.php?id=46 http://www.grossberg.com/blog.php?id=45 A grantor retained annuity trust (GRAT) lets taxpayers generate income for themselves while potentially removing significant amounts of wealth from their estate at a relatively low gift-tax cost. A zeroed-out GRAT allows them to eliminate gift taxes altogether. This article explores when to consider a zeroed-out GRAT. Mon, 01 Nov 2010 09:00:00 -0500 http://www.grossberg.com/blog.php?id=45 http://www.grossberg.com/blog.php?id=44 It's a well-known fact that having a good retirement plan can help businesses retain their best and brightest employees. But the uncertainty involved with finding the best plan for a business may have owners sitting on the fence. This article provides key information that will help them decide which side of the fence they want to be on. Whether it's going with a 401(k), a SIMPLE IRA or SIMPLE 401(k), a SEP-IRA, or a Roth 401(k), this article will be a good resource in the decision-making process. Mon, 01 Nov 2010 09:00:00 -0500 http://www.grossberg.com/blog.php?id=44 http://www.grossberg.com/blog.php?id=43 A special tax deduction for "domestic production activities" is available to traditional manufacturers, as well as to eligible construction contractors, engineers, architects, software developers, film producers, energy producers, farmers and agricultural processors. After a five-year phase-in period, the manufacturers' deduction (also commonly referred to as the Section 199 or domestic production activities deduction) reaches its maximum level in 2010. This article provides an overview of the deduction. Mon, 01 Nov 2010 09:00:00 -0500 http://www.grossberg.com/blog.php?id=43 http://www.grossberg.com/blog.php?id=42 Lending money to family members may be personal, but it pays to treat loans like business. Otherwise, the â??lenderâ? could owe taxes on income he or she never received and gifts he or she never intended to make. Structured properly, however, an intrafamily loan can be a great way to help family members buy a home, start a business or meet any number of financial needs. It can also be an effective estate planning tool. This article reviews the ins and outs of intrafamily loans, including documentation and interest rates. Mon, 01 Nov 2010 09:00:00 -0500 http://www.grossberg.com/blog.php?id=42 http://www.grossberg.com/blog.php?id=41 Millions of American families hire people to work in their homes, such as nannies, housekeepers, cooks, gardeners and health care workers. Taxpayers who employ domestic workers need to understand the tax rules--it can pay off for them and their employees. This article discusses household employee qualifications and employee responsibilities, including the tax bite. Mon, 01 Nov 2010 09:00:00 -0500 http://www.grossberg.com/blog.php?id=41 http://www.grossberg.com/blog.php?id=40 Entertainment and recreation have always played an important role in business. And while the IRS and courts scrutinize tax deductions for these activities, they also recognize that businesspeople conduct legitimate business over lunch or on the golf course. The scrutiny isn't surprising. After all, entertainment is an area that's ripe for abuse. This article explains how following the rules and paying close attention to substantiation requirements will allow companies to successfully mix business and pleasure without giving up the tax benefits. Mon, 01 Nov 2010 09:00:00 -0500 http://www.grossberg.com/blog.php?id=40 http://www.grossberg.com/blog.php?id=39 The right combination of lifetime donations and charitable bequests can help donors reduce income taxes, minimize gift and estate taxes, and support the organizations they care about. The requirements for substantiating donations aren't difficult to meet, but they do require close attention. If a person fails to meet the requirements, he or she can lose the tax deduction. This article examines the substantiation rules. Mon, 01 Nov 2010 09:00:00 -0500 http://www.grossberg.com/blog.php?id=39 http://www.grossberg.com/blog.php?id=38 After years of hard work, many people have managed to accumulate large balances in their retirement plan accounts. But what is the best way to dispose of those assets, both during life and after death? This article discusses distribution rules, lifetime distribution options and estate planning options. Thu, 28 Oct 2010 09:00:00 -0500 http://www.grossberg.com/blog.php?id=38 http://www.grossberg.com/blog.php?id=37 Many taxpayers don't understand all the ways their cars, crossovers, SUVs or pickup trucks can also be tax-reduction vehicles. This article provides an overview of vehicle-related tax breaks, including what vehicle-related expenses are deductible, and the actual-cost method and the mileage-rate method for calculating deductible expenses. Thu, 28 Oct 2010 09:00:00 -0500 http://www.grossberg.com/blog.php?id=37