lgtcpa

Dedicated to serving the middle market, Lane Gorman Trubitt, PLLC (LGT) represents a broad range of clients, from individuals to public companies, in a variety of industries. LGT offers traditional accounting, audit and tax services, as well as various other specialized professional services. In an effort to expand the services provided to valued clients, LGT has launched three affiliated companies, LGT Financial Advisors, LLC, LGT Insurance Services Inc. and LGT Retirement Plan Solutions.

Recent Posts

Tax Update:  Check yourself before you tax yourself

Posted by lgtcpa on Aug 2, 2017

When was the last time you checked your tax withholding, when you signed that W-4 eight years ago? There are multiple factors that largely affect how much you owe each year. Be mindful of potential refunds or taxes that you could owe.

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Topics: Accounting Tips, Tax

Tax Update: Beware of last-minute email scams!

Posted by lgtcpa on Mar 22, 2017

The IRS sends warnings of phishing emails scams, particularly those requesting last-minute changes and account updates.

Cybercriminals are taking the time when people are vulnerable, and creating sophisticated scams to trick anyone.

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Topics: Accounting Tips, Tax

Tax Update: 2017 Cost-of-Living Adjustments

Posted by lgtcpa on Feb 22, 2017

The IRS recently issued its 2017 cost-of-living adjustments. Because inflation remains relatively in check, many amounts increase only slightly, and some stay at 2016 levels.

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Topics: Accounting Tips, Tax

How will the election outcome affect future tax law changes?

Posted by lgtcpa on Jan 26, 2017

The election of Donald Trump as President of the United States, along with Republicans retaining control of both chambers of Congress, will likely result in an overhaul of the U.S. tax code.

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Topics: Accounting Tips, Tax

Timing is everything: Your income and expenses

Posted by lgtcpa on Nov 9, 2016

They say timing is everything. And, when it comes to year-end tax planning, this expression certainly holds true for income and expenses.

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Topics: Accounting Tips, Tax

Tax Update:  Transfer tax exemptions and rates

Posted by lgtcpa on Oct 19, 2016

The gift tax continues to follow the estate tax exemption and rates.

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Topics: Accounting Tips, Tax

Tax Update: New filing deadlines

Posted by lgtcpa on Oct 5, 2016

Q: What are the new tax filing deadlines under the highway funding law?

A: In addition to providing continued funding for federal transportation projects, the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 changes the due dates for several types of tax and information returns:

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Topics: Accounting Tips, Tax

Plan Now to Save on Taxes Later

Posted by lgtcpa on Sep 21, 2016

Even though tax filing time is far away, the fall is the perfect time to start your planning so you can take advantage of all opportunities to minimize your tax bill.

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Topics: Accounting Tips, Wealth Management, Tax, Retirement Plan Services

Tax Update: Passive activities and real estate

Posted by lgtcpa on Sep 7, 2016

If you’ve invested in a trade or business in which you don’t materially participate, remember the passive activity rules. Why? Passive activity income may be subject to the NIIT, and passive activity losses generally are deductible only against income from other passive activities. You can carry forward disallowed losses to the following year, subject to the same limits.

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Topics: Real Estate, Accounting Tips, Tax

Treasury Issues Proposed Regulations in an Effort to Remove “Minority Interest Discounts” when Valuing Family Businesses for Estate and Gift Tax Planning Purposes

Posted by lgtcpa on Aug 22, 2016

In recent years, when valuing a “less than a controlling interest” in a closely held company, a “minority interest discount” has been applied when gifting, or otherwise transferring such minority interest to a family member.

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Topics: Accounting Tips, Tax