gfc.com RSS Feed https://gfc.com/ Take a look at our recent blog posts and client newsletter articles. en-us Thu, 01 Apr 2021 09:00:00 -0500 Thu, 01 Apr 2021 09:00:00 -0500 Q & A: The $10,200 Unemployment Tax Break https://www.gfc.com/newsletter.php#4 A new tax break - in effect only for the 2020 tax year - allows you to exclude the first $10,200 of unemployment compensation from your taxable income. Thu, 01 Apr 2021 09:00:00 -0500 https://www.gfc.com/newsletter.php#4 PPP Loan Deadline Extended Through May 31 https://www.gfc.com/newsletter.php#5 The Paycheck Protection Program Extension Act of 2021 was signed into law on March 31, extending the deadline to apply for a loan by an additional 60 days. Thu, 01 Apr 2021 09:00:00 -0500 https://www.gfc.com/newsletter.php#5 Highlights of the American Rescue Plan Act https://www.gfc.com/newsletter.php#2 Signed into law on March 11, the American Rescue Plan Act of 2021 contains several tax provisions affecting individuals and families. Thu, 01 Apr 2021 09:00:00 -0500 https://www.gfc.com/newsletter.php#2 Federal Tax Deadline Extended To May 17 https://www.gfc.com/newsletter.php#1 The federal income tax filing due date for individual taxpayers, including those who pay self-employment tax, has been extended to Monday, May 17, 2021. Thu, 01 Apr 2021 09:00:00 -0500 https://www.gfc.com/newsletter.php#1 Economic Impact Payments: Round Three https://www.gfc.com/newsletter.php#3 Starting March 12, the IRS began sending out the third round of economic impact payments via direct deposit, paper checks, and EIP Cards. Thu, 01 Apr 2021 09:00:00 -0500 https://www.gfc.com/newsletter.php#3 Tax Breaks for Families With Children https://www.gfc.com/newsletter.php#3 If you have children, one or more of these tax credits and deductions could help your family reduce the amount of tax owed. Mon, 01 Mar 2021 09:00:00 -0600 https://www.gfc.com/newsletter.php#3 Small Business Tax Roundup https://www.gfc.com/newsletter.php#4 In 2020, the IRS issued a number of guidance documents as well as final rules and regulations that clarified several tax provisions affecting businesses. Mon, 01 Mar 2021 09:00:00 -0600 https://www.gfc.com/newsletter.php#4 Renting Out a Second Home https://www.gfc.com/newsletter.php#2 Tax rules on rental income from second homes can be confusing, especially if you rent the home out for several months of the year and also use the home yourself. Mon, 01 Mar 2021 09:00:00 -0600 https://www.gfc.com/newsletter.php#2 Capital Gains Tax on Sale of Stocks https://www.gfc.com/newsletter.php#5 If you made money last year buying and selling stocks, you may owe capital gains tax. Mon, 01 Mar 2021 09:00:00 -0600 https://www.gfc.com/newsletter.php#5 Avoiding an IRS Tax Audit https://www.gfc.com/newsletter.php#1 With taxes becoming more complicated every year, there is an even greater possibility of tax confusion turning into a tax mistake and an IRS audit. Avoiding "red flags" like these could help. Mon, 01 Mar 2021 09:00:00 -0600 https://www.gfc.com/newsletter.php#1 Tax Alert: SBA Releases Guidance PPP Second Draw Loans and Continued Access Program (Released 1/8/21) https://www.gfc.com/blog.php?id=76 Fri, 08 Jan 2021 09:00:00 -0600 https://www.gfc.com/blog.php?id=76 Legislative Alert: Consolidated Appropriations Act, 2021 - ERC and PPP (Released 1/5/21) https://www.gfc.com/blog.php?id=74 Tue, 05 Jan 2021 09:00:00 -0600 https://www.gfc.com/blog.php?id=74 Tax Alert: Congress Passes Appropriations Bill COVID-19 Relief and PPP Provisions (Released 12/22/20) https://www.gfc.com/blog.php?id=75 Tue, 22 Dec 2020 09:00:00 -0600 https://www.gfc.com/blog.php?id=75 GFC Offices Closed November 23-27 https://www.gfc.com/blog.php?id=73 Mon, 16 Nov 2020 09:00:00 -0600 https://www.gfc.com/blog.php?id=73 SBA Publishes Loan Necessity Questionnaire for PPP Borrowers (Released 11/2/20) https://www.gfc.com/blog.php?id=72 Mon, 02 Nov 2020 09:00:00 -0600 https://www.gfc.com/blog.php?id=72 VT Grants Update - Expanded Economic Recovery Grants Application Period Open (Released 10/21/20) https://www.gfc.com/blog.php?id=71 Wed, 21 Oct 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=71 NH Update - Main Street Relief Fund 2.0 (Released 10/20/20) https://www.gfc.com/blog.php?id=70 Tue, 20 Oct 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=70 PPP Loan Forgiveness Updates (Released 10/19/20) https://www.gfc.com/blog.php?id=69 Mon, 19 Oct 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=69 GFC Named One of Accounting Today's "2020 Best Accounting Firms to Work For" (Released 9/22/20) https://www.gfc.com/blog.php?id=68 Tue, 22 Sep 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=68 Tax Alert: Deferral of Employee OASDI Withholding (Released 8/31/20) https://www.gfc.com/blog.php?id=67 Mon, 31 Aug 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=67 Tax Alert: SBA Issues Additional PPP Loan Forgiveness Guidance (Released 8/26/20) https://www.gfc.com/blog.php?id=66 Wed, 26 Aug 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=66 Tax Alert: CARES Act and RMDs (Released 8/21/20) https://www.gfc.com/blog.php?id=65 Fri, 21 Aug 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=65 VT Economic Recovery Grants Maximum Awards Increase and Other Program Updates (Released 8/19/20) https://www.gfc.com/blog.php?id=64 Wed, 19 Aug 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=64 SBA Releases Updated PPP Loan Forgiveness FAQs (Released 8/6/20) https://www.gfc.com/blog.php?id=63 Thu, 06 Aug 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=63 ACCD Releases Criteria and Application Process for Vermont Emergency Economic Recovery Grants (Released 7/2/20) https://www.gfc.com/blog.php?id=62 Thu, 02 Jul 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=62 AICPA PPP Loan Forgiveness Calculator (Revised 6/24/20) https://www.gfc.com/blog.php?id=61 Fri, 26 Jun 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=61 Updated PPP Loan Forgiveness Applications and Revised SBA Guidance (Released 6/19/20) https://www.gfc.com/blog.php?id=60 Fri, 19 Jun 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=60 VT Work Safe Updates and Amendments to Travel (Released 6/5/20) https://www.gfc.com/blog.php?id=59 Fri, 05 Jun 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=59 Legislative Alert: H.R. 7010 - Paycheck Protection Program Flexibility Act of 2020 (Released 6/5/20) https://www.gfc.com/blog.php?id=58 Fri, 05 Jun 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=58 Governor Scott Releases Addendum 15: Updates to VT Guidance (Released 5/22/20) https://www.gfc.com/blog.php?id=55 Fri, 22 May 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=55 PPP Loan Forgiveness Application: New Resource (Released 5/21/20) https://www.gfc.com/blog.php?id=54 Thu, 21 May 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=54 Legislative Update: PPP Forgiveness Application (Released 5/18/20) https://www.gfc.com/blog.php?id=53 Mon, 18 May 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=53 Update on Paycheck Protection Program Certification:FAQ 46 (Released 5/13/20) https://www.gfc.com/blog.php?id=52 Wed, 13 May 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=52 Legislative Update - PPP and Employee Retention Credit (Released 5/6 /20) https://www.gfc.com/blog.php?id=51 Wed, 06 May 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=51 Legislative Reminder: FFCRA and CARES Act Benefits (Released 4/29/20) https://www.gfc.com/blog.php?id=48 Wed, 29 Apr 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=48 Upcoming COVID-19 Webinars (Released 4/28/20) https://www.gfc.com/blog.php?id=47 Tue, 28 Apr 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=47 SBA Loan Comparison Table (at 4/17/20) https://www.gfc.com/blog.php?id=40 Mon, 27 Apr 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=40 Legislative Alert: Paycheck Protection Program and Health Care Enhancement Act (Released 4/27/20) https://www.gfc.com/blog.php?id=46 Mon, 27 Apr 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=46 SBA VDO: SBA Loan Options and Summaries (EIDL and PPP) Released 4/24/20 https://www.gfc.com/blog.php?id=45 Fri, 24 Apr 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=45 Tax Alert: Employment Tax Payment Deferral (Released 4/16/20) https://www.gfc.com/blog.php?id=44 Thu, 16 Apr 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=44 Tax Alert: Notice 2020-23 Clarification for Exempt Organizations (Released 4/13/20) https://www.gfc.com/blog.php?id=43 Mon, 13 Apr 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=43 Tax Alert: Notice 2020-23 (Released 4/10/20) https://www.gfc.com/blog.php?id=42 Fri, 10 Apr 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=42 Legislative Alert: CARES Act and Tax Losses (Released 4/7/20) https://www.gfc.com/blog.php?id=41 Tue, 07 Apr 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=41 Legislative Alert: CARES Act and Retirement Plans (Released 4/2/20) https://www.gfc.com/blog.php?id=37 Thu, 02 Apr 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=37 Legislative Alert: PPP Loan Information and SBA Loan Options (Released 4/1/20) https://www.gfc.com/blog.php?id=36 Wed, 01 Apr 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=36 IT Alert: COVID-19 Phishing (Released 3/31/20) https://www.gfc.com/blog.php?id=38 Tue, 31 Mar 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=38 Legislative Alert: CARES Act and Spotlight on PPP Loans (Released 3/30/20) https://www.gfc.com/blog.php?id=35 Mon, 30 Mar 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=35 COVID-19 Update (Released 3/27/20) https://www.gfc.com/blog.php?id=34 Fri, 27 Mar 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=34 Accounting Alert: COVID-19 (Released 3/26/20) https://www.gfc.com/blog.php?id=33 Thu, 26 Mar 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=33 Tax Alert: Summary of IRS Notice 2020-18 (Released 3/23/20) https://www.gfc.com/blog.php?id=32 Mon, 23 Mar 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=32 Legislative Alert: H.R. 6201- Families First Coronavirus Response Act (Released 3/20/20) https://www.gfc.com/blog.php?id=31 Fri, 20 Mar 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=31 Tax Alert: Summary of IRS Notice 2020-17 (Released 3/19/20) https://www.gfc.com/blog.php?id=30 Thu, 19 Mar 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=30 A Message from Our Managing Partners and Team Regarding COVID-19 (Released 3/17/20) https://www.gfc.com/blog.php?id=29 Tue, 17 Mar 2020 09:00:00 -0500 https://www.gfc.com/blog.php?id=29