Gorfine, Schiller & Gardyn

Changes in the workplace and organizational structure, industrialization, and legislation increase the chances of enterprises becoming victims of various frauds.

The rise in inflation has affected pretty much every aspect of our lives these days. However, inflation is especially impactful when it comes to business valuation.

Chuck Faunce, Director, Business Valuation & Litigation Support at Gorfine, Schiller & Gardyn, discusses the impact of inflation on business valuation, and what can be done to counter it.

This may come as a surprise for many sports betting enthusiasts, but did you know that winnings from gambling are considered taxable income and need to be reported on your tax return for 2022?

Matt Keefer, Director of Tax Services at Gorfine, Schiller & Gardyn, discusses what you need to know about reporting digital assets, and how you cannot claim losses if you had a FTX account.

Joe Liberman, Director at Gorfine, Schiller and Gardyn, and Patrick Hom, Director of Tax Services at Gorfine, Schiller and Gardyn, provide annual tax planning tips for individuals and businesses.

Click here to download the full GSG 2022 Year-End Year-Round Tax Planning Guide.

GSG’s Vicki Hitchcock recently authored a guest article for the Maryland Daily Record about how the SECURE 2.0 Act could help Maryland companies counter the “Great Resignation.”

The law aims to expand automatic enrollment in retirement plans. It will also allow participants to make employer-matched Roth contributions. This means that employees can take advantage of the tax benefits, which includes only being taxed on the earnings of the money – and not being taxed on the actual contributions.

Please contact us here to learn more about how GSG can help educate you on potential changes around the SECURE 2.0 Act.

Amir Malek, Senior Manager at GSG, discusses the new finance and accounting outsourcing solutions for the firms clients and prospects.

With a high-level of turnover in most industries these days, many companies and organizations may find it difficult to fill key internal accounting and finance roles. In addition, many companies may find that they just don't have the resources to afford internal accounting staff.

Contact us to learn more about our outsourcing services.

In the Gorfine, Schiller & Gardyn podcast interview, Matt Keefer, Director of Tax Services at GSG, breaks down the recent IRS tax inflation adjustments for the 2023 tax year.

The IRS is adjusting many of its rules to account for the impact of inflation, ranging from individual income tax brackets for 2023 to the standard deduction. The changes could mean tax savings for some taxpayers next year.

While the adjustments won’t apply until the 2023 tax year, understanding these changes is essential for overall tax planning, and GSG can help you to best take advantage of these potential tax savings.

Following are some key highlights from this interview:

· A high-level perspective on these recent IRS changes. (:33)

· What this means for taxpayers. (2:53)

· How can GSG help. (5:25)

If you need guidance on how to best take advantage of these tax changes, please contact us here.

The Baltimore Sun recently published an editorial about how the “devil is in the details” when it comes to cutting property taxes in Baltimore. The article highlights how group called Renew Baltimore is proposing that Baltimore property taxes be reduced from 2.248% of assessed value to 1.25% over six years.

If you need guidance on how to best manage your property taxes, please contact us here.

Matt Keefer, Director of Tax Services at Gorfine, Schiller & Gardyn, discusses the most optimal tax strategies around crypto holdings.

If you have a crypto portfolio and need guidance on how to best manage your crypto holding taxes, please contact us here.