Tax Reform 2.0 on the Way?

Posted · Add Comment

As reported in a previous post, the House Ways and Means Committee released three tax bills, referred to as “Tax Reform 2.0,” in late August. All three bills were approved by the House at the end of September. The passage of these bills is the next step toward making additional substantial changes to the already […]

Deductibility of Business Meals after the Tax Cuts and Jobs Act

Posted · Add Comment

As we have posted previously, the Tax Cuts and Jobs Act (TCJA) made changes to the business expense deduction for meals and entertainment. The TCJA disallowed the deduction for expenses related to activities generally considered to be entertainment, amusement or recreation, that were incurred in years beginning after December 31, 2017. However, in most cases, taxpayers […]

Using NetSuite to Help Navigate the New Lease Accounting Regs

Posted · Add Comment

The new lease accounting standards will be most challenging for dual reporting companies that will need to maintain different processes, controls and accounting systems for each framework to comply with the different lessee reporting requirements.  Read this NetSuite blog post to learn how NetSuite can help make this happen. Contact the GYF ERP Solutions Group to learn more […]

IRS Releases Draft Instructions for 2018 Form 1040

Posted · Add Comment

With simplicity seemingly in the eyes of the beholder, the Internal Revenue Service (IRS) released the 100+ pages of Draft Instructions for the 2018 Form 1040, U.S. Individual Income Tax Return. The IRS released a draft of the 2018 Form 1040 and six accompanying schedules in June. The instructions note that the IRS generally does not […]

Internal Revenue Service Provides Guidance and Changes to Qualified Moving Expense Reimbursements

Posted · Add Comment

The income tax provisions in the Tax Cuts and Jobs Act (TCJA) affecting individual taxpayers are temporary and, without further action by Congress and the “in-office” President, will revert to prior law provisions in calendar 2026.  One of the many temporary provisions was one modifying the rules for the tax treatment of qualified moving expenses. […]

IRS Postpones Changes to Form W-4

Posted · Add Comment

The Tax Cuts and Jobs Act (TCJA) made significant changes to the manner in which individual income taxes are calculated. To accommodate and plan for the many changes included in the TCJA, taxpayers would be wise to consider their income tax withholdings on their salaries and wages to ensure that the amounts being withheld in […]

A Push for Indexing Capital Gains to Inflation

Posted · Add Comment

The idea to index capital gains to inflation is not a new one. Largely supported by Republicans and criticized by Democrats, this issue has been argued by the legislative and executive branches of government for decades. The debate has re-emerged recently in the wake of the passage of the Tax Cuts and Jobs Act (TCJA) […]

GYF Honored as Top Workplace for 8th Consecutive Year

Posted · Add Comment

Grossman Yanak & Ford LLP was honored as one of Pittsburgh’s “Top Workplaces” for the eighth consecutive year! Evaluation for the awards is based upon results of employee surveys conducted by Energage. Winners were featured in a special section published by the Pittsburgh Post-Gazette. GYF manager, Brad Matthews, was interviewed for a related article, “Thermostat wars: How […]