Articles & Videos

Looking to Grow Your Firm? Consider GROCO

There are hundreds of tax and accounting firms all over the country, including right here in the Bay Area. These firms come in all levels of size and expertise. At GROCO, we are always looking to grow our business and we know that many, if not all, companies are looking to do the same. If…

Is Corporate America Getting Away With Too Little Tax?

It’s an argument that’s all too common in the business world: big multi-national companies don’t pay their fair share of taxes. A new study will only serve to add more fuel to the fire, as according to its findings, seven of the 30 biggest companies in the United States reportedly paid more to their CEOs…

Business in New York Being Buried by Heavy Tax Load

New York, New York: It’s the town so nice they named it twice. But when it comes to taxes in one of the world’s greatest states, things aren’t so nice. That’s because New York is one of the worst places to live if you don’t want to pay a lot of taxes.  New York has…

Thinking About Loaning Cash to Your Business?

Are you looking to start a business, or is your current business in need of some cash? Maybe you can’t get a loan from a bank, or maybe you would rather not use a bank. What about lending some of your own money to your company? Can you do that? Yes, you can, but you’ll…

Tips for Filing Your Tax Return

Which Tax Extensions Will Affect Your 2014 Return?

Are You Ready for Your 2014 Taxes? Although many people might answer yes to that question, the fact is taxpayers can only do so much as long as Congress is dragging its feet on several expired tax extenders. The fact that these extenders are still sitting in limbo is nothing new. It happens almost every…

So-Called Temporary Recession Tax Not So Temporary

Remember the great recession of 2009? Although the recession may now be a thing of the past, some so-called “temporary” taxes are having a harder time fading into the background. That’s because many states throughout the country are still collecting on tax bills that were enacted solely for the purpose of refilling public reserves. Fourteen…

NBA Stars Losing Hefty Amounts of Their Salary to the Taxman

Just about everyone knows that professional athletes make a ton of money. Whether you agree with athlete salaries or not, the fact is those hefty numbers you always see reported when an athlete signs a new deal aren’t really all that they’re cut out to be. Oh sure, they are making a lot of money,…

Congress Not Looking to Pass Internet Sales Tax Anytime Soon

Ever since the Internet became a worldwide sensation, there have been those who think it should be taxed, especially Internet sales from state to state. Taxing the Internet would be a huge source of extra revenue for the government, but for those who use the Internet to shop (which is just about everyone these days),…

IRS Is Carefully Watching Bitcoin and Other Cyber Currency

Big Brother is watching. Always watching. In this case, Big Brother is the IRS and you might be surprised what they’re looking into now. Although, when it comes to the IRS, nothing should surprise us. Have you ever heard of Bitcoin? It’s one of a handful of virtual currencies that making buying and selling things…

Which Tax Breaks Will Be Restored for 2014?

It seems like every year at this time the conversations start to creep up in the media regarding which tax breaks will be renewed and which breaks will get the permanent axe. This year is no different as Congress already let more than 50 such tax breaks expire at the end of 2013. Now the…

Helpful Deduction Tips for Collectors

Are you a collector? Have you ever wondered if you could donate the items you collect to a charity auction for tax break purposes? If you are considering this scenario, there are some things you should know. The first thing you need to make sure of is that the charity you are considering is actually…

Ask Yourself These Key Questions When Planning Your Estate

Almost no one can choose when he or she will die, but everyone can choose how his or her assets will be handled when that time comes. It’s really just a matter of having a current and effective estate plan in place before you go. Estate planning is a wide subject with many aspects; and…