One of the fundamental yet often overlooked aspects of personal finance is understanding and routinely reviewing the Social Security Statement. Given its relevance to retirement planning, disability coverage, and survivors’ benefits, here is a summary of the key components: Personal Information The first thing to verify on a Social Security Statement is the personal information. […]
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Portfolio Diversification with International Investments
Investing internationally provides an avenue for diversification of one’s portfolio and tap into markets that may be growing faster than US markets. By including international investments in one’s portfolio, global growth opportunities can be embraced, and risk reduced through diversification. Why Consider International Investments? As the world’s economies become increasingly interconnected, it is important […]
Making the Most of a Tax Refund: A Practical Guide
Accountants often deal with clients who receive sizeable tax refunds. This influx of cash can have a positive impact on advancing their financial goals if utilized appropriately. Here are some key strategies to consider: Emergency Funds and Savings Encourage clients to allocate part of their refund towards their emergency fund, which can cover at least […]
NCI versus a general business broker to sell your firm
Here is a guest post from Bruce Clark, CEO & founder of one of our trusted vendor firms, New Clients Inc. He talks about why NCI is the best bet for a firm getting ready to sell, as against a general business broker with no specific understanding of the accounting business. I recently had an […]
Accounting Landscape 2023 : how accountants can maximize the benefits of outsourcing
The accounting landscape in 2023 has been shaped by an amalgam of factors ranging from technological advancements to regulatory changes, and from globalization to pandemic-induced shifts. One of the most noteworthy trends in this evolving terrain is the growing inclination towards outsourcing accounting services. Accountants who are able to adapt to this trend and find […]
Navigating social security benefits : stopping & restarting
In the face of unprecedented unemployment rates, Social Security benefits have become a critical lifeline for an expanding retirement community. The choice of when to commence claiming Social Security is a vital decision. Typically, Social Security retirement benefits can be initiated from age 62. However, delaying the commencement until age 70 can result in significantly […]
How outsourcing can help address seasonal challenges faced by accounting firms
Tax season can be stressful and challenging for accountants and Certified Public Accountants (CPAs), as they contend with tight deadlines, increasingly complex regulations and high client expectations. Outsourcing can prove to be an effective partner for firms to address the challenges. This allows accountants to focus on enhanced service quality & delivery while managing the […]
GKM – Sponsor & Exhibitor at the Thomson Reuters Synergy 2022
The Thomson Reuters Synergy User Conference for tax & accounting firms is underway at the Gaylord National Resort & Convention Center in Washington, DC from Nov 09, 2022, and is on until the end of this week. GKM has been a proud sponsor-exhibitor at the Synergy Conferences for over 3 years now, and the rich […]
What you need to know about the Federal Gift Tax
Federal Gift Tax What is the gift tax? It is a federal tax on assets given away during the lifetime of a donor. The estate tax is a tax on assets transferred to heirs after the passing away of the owners. The annual gift tax exclusion enables gifting any number of people up to $15,000 […]
Tax Credits for Going Green
Tax Credits for Going Green Going green does great good to your lifestyle. It has a positive effect on your taxes too. Here are some federal tax credits that ease your tax burden as well as help the environment: In order to qualify for a credit, the vehicle or equipment must meet certain energy-related requirements […]
