Uncategorized – GKM Inc https://gkmtax.com Drive your vision Tue, 18 Jun 2024 12:59:30 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.3 https://gkmtax.com/wp-content/uploads/2024/06/cropped-cropped-gkmtax.in_-1-32x32-1-32x32.png Uncategorized – GKM Inc https://gkmtax.com 32 32 What you need to know about the Federal Gift Tax https://gkmtax.com/hedge-funds-this-year-explained/ Wed, 08 Jun 2022 08:35:32 +0000 https://gkmtax.com/?p=7081 What is the gift tax? It is a federal tax on assets given away during the lifetime of a donor. The estate tax is a tax on assets transferred to heirs after the passing away of the owners. The annual gift tax exclusion enables gifting any number of people up to $15,000 each every year without the gift being taxable. In the case of married couples, the exclusions can be combined, and any number of people can be gifted $30,000 each per year. In case the spouse is a US citizen, the amount that can be gifted is unlimited. In case the spouse is a non-US citizen, gifts of up to $159,000. There is also a lifetime exclusion for federal estate & gift taxes in addition to the annual exclusion for gift tax. This is set at $11.7 million for the year 2021. This essentially implies that one can gift up to $11.7 million during or after his / her life without having to pay any federal gift tax or estate tax on the same. For married couples, this amount goes up to $23.4 million.

]]> Transform Customer Experience with an Intelligent Client Management https://gkmtax.com/transform-customer-experience-with-an-intelligent-client-management/ Wed, 08 Jun 2022 08:34:43 +0000 https://gkmtax.com/?p=7079 As businesses reel from the impact of COVID 19, both employers and employees face a crunch. The federal government, therefore, has provided some additional employer tax credits to ensure that employers are encouraged to keep employees on payroll via these credits. To this end, two different credits have been announced viz. the employee retention credit and the leave credits (paid sick leave and paid family leave).

]]> GKM โ€“ Sponsor & Exhibitor at the Thomson Reuters Synergy 2022 https://gkmtax.com/winning-the-race-for-digital-commerce/ Wed, 08 Jun 2022 08:33:21 +0000 https://gkmtax.com/?p=7077 Going green does great good to your lifestyle. It has a positive effect on your taxes too. Here are some federal tax credits that ease your tax burden as well as help the environment:

In order to qualify for a credit, the vehicle or equipment must meet certain energy-related requirements such as the manufacturerโ€™s certification that the requirements are met, and the purchase qualifies for a tax credit.

The Residential Energy Efficient Property Credit helps defray up to 26% of the cost of adding alternative energy systems to your home, and the labor to install the same for systems placed in service in 2020, 2021, or 2022.

]]> We are exhibiting at Scaling new heights https://gkmtax.com/we-are-exhibiting-at-scaling-new-heights/ Wed, 08 Jun 2022 08:32:42 +0000 https://gkmtax.com/?p=7075 Lorem Ipsum is simply dummy text of the printing and typeset

We are happy to announce that we are exhibiting at the

ScalingNewHeights2024 conference in Orlando from June 16-19, 2024.

Join us at Booth No. 9 to explore how we can help elevate your accounting and bookkeeping practice.

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๐——๐—ฎ๐˜๐—ฒ๐˜€: June 16-19, 2024

๐—Ÿ๐—ผ๐—ฐ๐—ฎ๐˜๐—ถ๐—ผ๐—ป: Orlando Marriott World Center, Orlando, FL

๐—•๐—ผ๐—ผ๐˜๐—ต: 9

ScalingNewHeights is a premier event for accounting professionals, offering four days of advanced education, tech exploration, and great networking. This year’s theme, ๐—•๐—ผ๐—น๐—ฑ๐—น๐˜† ๐—š๐—ผ, focuses on navigating the evolving landscape of our profession, driven by AI and new technologies.

We are excited to meet you all in Orlando!

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]]> We are happy to share that GKM participated in the Engage24! https://gkmtax.com/we-are-happy-to-share-that-gkm-participated-in-the-engage24/ Wed, 08 Jun 2022 08:31:42 +0000 https://gkmtax.com/?p=7073 We are happy to share that GKM participated in the Engage24!

The event was a fantastic opportunity for us to connect with industry leaders, share insights, and learn about the latest trends in our field.

Thank you to everyone who stopped by to visit us!

]]> Evo live GKM https://gkmtax.com/evo-live-gkm/ Wed, 08 Jun 2022 07:08:54 +0000 https://gkmtax.com/?p=7060 Reflecting on the insightful discussions at the annual BDO Global Alliance conference in Las Vegas -Tax, Finance, and Compliance. No dearth for perceptions and Key takeaways include

  1. Transformation and growth amidst uncertainty highlighting the unpredictable landscape in the USA. Many finance pundits predict economic volatility poses the same or greater risk in 2024 than it did a year ago. More than 30% expect flat or decreased revenues in 2024, while 34% predict the same profitability.
  2. Navigating through the promise of AI particularly Generative AI will play a crucial role. We saw the Algorithm wave in the early 2020s with structured data analysis, saw the Augmentation wave in the mid 2020s with solutions for repeatable tasks and will see the Autonomy wave in the late 2020s with predictions and transformative journey ahead.

ย  ย  ย  3. As โ€œGlobal solutionsโ€œ become the norm post-COVID, India’s demographic potential positions it as a pivotal player on the international stage and occupying a major Centre stage of the Globe.

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