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Gray Hunter Stenn
Gray Hunter Stenn

July 20, 2017

Nonqualified Stock Options Demand Tax Planning Attention

Your compensation may take several forms, including salary, fringe benefits, and bonuses. If you work for a corporation, you might also receive stock-based compensation, such as stock options. These come in two varieties: nonqualified (NQSOs) and incentive (ISOs). With both NQSOs and ISOs, if the stock appreciates beyond your exercise price, you can buy shares…More

July 19, 2017

3 Midyear Tax Planning Strategies for Business

Tax reform has been a major topic of discussion in Washington, but it’s still unclear exactly what such legislation will include and whether it will be signed into law this year. However, the last major tax legislation that was signed into law — back in December of 2015 — still has a significant impact on…More

July 13, 2017

Own a Vacation Vome? Adjusting Rental vs. Personal Use Might Save Taxes

Now that we’ve hit midsummer, if you own a vacation home that you both rent out and use personally, it’s a good time to review the potential tax consequences: If you rent it out for less than 15 days: You don’t have to report the income. But expenses associated with the rental (such as advertising…More

July 12, 2017

All Fringe Benefits Are Not Created Equal for Tax Purposes

According to IRS Publication 5137, Fringe Benefit Guide, a fringe benefit is “a form of pay (including property, services, cash or cash equivalent), in addition to stated pay, for the performance of services.” But the tax treatment of a fringe benefit can vary dramatically based on the type of benefit. Generally, the IRS takes one…More

July 11, 2017

Summer is a Good Time to Start Your 2017 Tax Planning and Organize Your Tax Records

  You may be tempted to forget all about taxes during summertime, when “the livin’ is easy,” as the Gershwin song goes. But if you start your tax planning now, you may avoid an unpleasant tax surprise when you file next year. Summer is also a good time to set up a storage system for…More

July 10, 2017

Keep Real Estate Separate From Your Business’s Corporate Assets to Save Tax

It’s common for a business to own not only typical business assets, such as equipment, inventory, and furnishings but also the building where the business operates — and possibly other real estate as well. There can, however, be negative consequences when a business’s real estate is included in its general corporate assets. By holding real…More

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