Blame It on the Software…

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A recent Tax Court decision, illustrates, once again, the folly in filing inaccurate income tax returns and taking deductions that are unsubstantiated! The taxpayer, Barry Bulakites, is an insurance consultant in California. Though he worked for a firm whose clients are mostly accountants, Bulakites relied only on TurboTax when he prepared his own returns.  After […]

Department of Labor Wins Important ESOP Case

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An employee stock ownership plan (ESOP) is a retirement plan that is permitted to invest some, or all, of its assets in employer stock. ESOP plans are often sponsored by small or mid-sized, closely held firms that are not traded on any public exchange or capital market. As such, there is no way of knowing if […]

GYF Partner Named as PICPA “Woman to Watch”

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Melissa A. Bizyak, was honored by the Pennsylvania Institute of CPAs (PICPA) with the association’s inaugural Women to Watch award. Four female CPAs from across the State of Pennsylvania were honored at the PICPA Women’s Leadership Conference.  The Women to Watch award is given to PICPA and AICPA members who exemplify leadership and invest in the […]

Rental Real Estate Losses Can Provide Substantial Tax Savings

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Taxpayers involved in “passive” business activities are generally permitted to use those losses to offset income generated by other passive business activities. Passive activities are those in which the taxpayer does not “materially participate.” The requirement for material participation can be met in a number of ways, but suffice to say that all serve to […]

Honoring Individuals Making Pittsburgh a Better Place

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We are pleased to sponsor Three Rivers Champions, a new online recognition program from Pittsburgh Magazine, designed to honor local individuals who make Pittsburgh a better place by serving our community through volunteerism and charitable deeds. Do you know someone who deserves to be names as a Three Rivers Champion? If so, nominate him or her […]

Pittsburgh in Vegas

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The GYF ERP Solutions Group team enjoyed interacting with other Pittsburghers at the NetSuite SuiteWorld conference, held in Las Vegas at the end of April. This annual conference is designed to give NetSuite customers and vendors a chance to find out more about the products and how to maximize their capabilities. It is also great […]