HOUSE WAYS AND MEANS COMMITTEE RELEASES INITIAL TAX PROPOSALS On September 13, 2021, the House Ways and Means Committee released draft legislation that proposes a series of tax increases and tax cuts, which will undergo a round of markups by the committee over the next few days. Most tax proposals were anticipated; however, the House…
The Uniform Guidance – Some Ongoing Pitfalls By Matthew Cromwell, CPA, BDO We find ourselves years into the implementation of Title 2 Code of Federal Regulations (CFR) 200 – Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). However, a few recurring matters continue to arise that lead to audit findings. This article will discuss…
Dear Friends, With the May 17th tax deadline out of the way, it would be a good idea to continue to keep your tax planning at the top of your mind. As accounting industry leaders, our goal remains to keep you informed of the important tax updates. In this issue, you’ll read more about the…
Dear Friends, As you may know, 2021 marks the 80th Anniversary of the GJC legacy! One of the ways we are celebrating this year is by donating to at least 80 nonprofit organizations. Our core remains the same today as it was when we started in 1941, which is to support our community and enrich…
Dear Friends, As you may know, 2021 marks the 80th Anniversary of the GJC legacy! One of the ways we are celebrating this year is by donating to at least 80 nonprofit organizations. Our core remains the same today as it was when we started in 1941, which is to support our community and enrich…
On March 17, 2021, the IRS announced that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021 to May 17, 2021. Individual taxpayers can also postpone federal income tax payments for the 2020 tax year due on April 15, 2021, to May…
Dear Friends, Welcome to our GJC Advisor Spring/Summer Tax Update! As we all continue to deal with the impact of the novel coronavirus COVID-19 and this rapidly-changing situation, there continues to to be new developments. Rest assured that GJC will continue to keep you updated with how these developments may impact you and your business, whether…
Welcome to the Spring/Summer edition of the GJC Advisor, Nonprofit Organizations and Foundations Update. As we all continue to deal with the impact of the novel coronavirus COVID-19 and this rapidly-changing situation, there continue to be new developments. Rest assured that GJC will continue to keep you updated with how these developments may impact you and your…
Dear Clients and Friends, Welcome to our Spring/Summer issue of the GJC Advisor, Employee Benefit Plans edition. As we all continue to deal with the impact of the novel coronavirus COVID-19 and this rapidly-changing situation, there continues to to be new developments. Rest assured that GJC will continue to keep you updated with how these developments may…