Contact Us
Gray Hunter Stenn
Gray Hunter Stenn

May 31, 2017

Consider the Tax Consequences Before Making an Employee a Partner

In today’s competitive environment, offering employees an equity interest in your business can be a powerful tool for attracting, retaining and motivating quality talent. If your business is organized as a partnership, however, there are some tax traps you should watch out for. Once an employee becomes a partner, you generally can no longer treat…More

May 23, 2017

A “Back Door” Roth IRA Can Benefit Higher-Income Taxpayers

A potential downside of tax-deferred saving through a traditional retirement plan is that you’ll have to pay taxes when you make withdrawals at retirement. Roth plans, on the other hand, allow tax-free distributions; the tradeoff is that contributions to these plans don’t reduce your current-year taxable income. Unfortunately, your employer might not offer a Roth…More

May 22, 2017

Business Owners: When it Comes to IRS Audits, Be Prepared

If you recently filed for your 2016 income tax return (rather than filing for an extension) you may now be wondering whether it’s likely that your business could be audited by the IRS based on your filing. Here’s what every business owner should know about the process. Catching the IRS’s eye Many business audits occur…More

May 17, 2017

Real Estate Investor vs. Professional: Why It Matters

Income and losses from investment real estate or rental property are passive by definition – unless you’re a real estate professional. Why does this matter? Passive income may be subject to the 3.8% net investment income tax (NIIT), and passive losses generally are deductible only against passive income, with the excess being carried forward. Of…More

1 6 7 8

request information

GHS is a sophisticated partner that can elevate your tax and accounting performance while offering insight to enhance your business performance. Contact us to discuss your needs.