Latest News

2018 Tax Reform Update: Important Changes For The Construction Industry
10/10/2018

There are signficant changes coming to the construction industry because of the 2018 Tax Reform package. 

GMP Construction Division Tax Manager Danny Gamez takes a closer look at several of the changes you need to be aware of as we approach the end of the year

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GMP at Beta Alpha Psi & UT Tyler Meet The Firm Night
10/05/2018

Thanks to the Beta Alpha Psi chapter at UT Tyler for sponsoring last night's "Meet the Firm" event. It was a great opportunity to meet so many outstanding accounting students. GMP is currently interviewing for internships this spring. For more information contact Human Resource Manager Suzzone Fletcher at suzzonef@gmpcpa.com

Click Here For Pictures From Meet The Firm




199A Offers Great News for Oil and Gas Industry
10/01/2018

GMP Partner Daniel Montgomery explains how the proposed 199A regulations could mean big savings for Oil & Gas industry.

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Are You Ready For A New Revenue Recognition Standard?
09/26/2018

How ready are you for the new ASC 606 Revenue Recognition Standard?  GMP Partner Kevin Cashion looks at the five steps to follow to see if you are ready.

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Four Financial Targets for the Future
09/19/2018

What should cross off your financial "to-do list" on your pather to fanancial security?

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2018 Tax Reform Update: Combining Business Travel With Pleasure
09/10/2018

It is possible to combine a business and pleasure on your next trip.  But it takes some planning ahead of time.

GMP Partner Kris Gusa has some pointers on how to do both.

Click here for the info. 




GMP staff part of UT Tyler's 2018 Career Success Conference
09/07/2018

GMP was proud to be a part of UT Tyler's Career Success Conference 2018. 

Hundreds of business leaders met with thousands of students during the one day event.

GMP Partners Shane Rohrbach, Barbara Bass, Kevin Cashion and Heather Sellers along with GMP Business Development Manager Clint Yeatts partcipated.

Combined GMP met with more than 300 students during the event.

Congratulations to UT Tyler for putting on such a great conference!

Click here for more details




2018 Tax Reform Update: Guidelines for donating a vehicle to charity.
09/04/2018

Tax rules are tricky when it comes to donating vehicles.

Click Here For Details




GMP to host workshop on changes in lease standards for oil and gas industry.
08/31/2018

Big changes are coming to lease accounting standards in the oil industry.  Please join us on September 12th for an indepth look at what's coming and how it will impact your business.  

See the attachment below for more information. 

CPE credit will be available.  The event is free but seating is limited.  To reserve your seat please register today!

Contact GMP Business Development Manager, Clint Yeatts, at clinty@gmpcpa.com or 903-596-7470 if you have any questions.

Click here to register.

Gollob Oil  Gas Invite Postcard 18-1




2018 Tax Reform Update: Deduction Changes
08/29/2018

The 2018 Tax Reform package could bring changes to some popular deductions and expenses.

Click here for more tips on what lies ahead.

 




Gollob Morgan Peddy Announces Promotions and New Staff
08/27/2018

Gollob Morgan Peddy is proud to annouce the promotion of several key staff members.  We are also excited to announce the addition of the staff from Jerry Nelson and Associates to the Gollob Morgan Peddy staff. 

Jerry Nelson and Associates became part of Gollob Morgan Peddy effective August 1, 2018.  

Staff Promotions August 2018




2018 Tax Reform Update: Corporate Tax Rate & Choice of Entity
08/14/2018

2018 Tax Refrom-Corp Tax Rate Choice of Entity




GMP Takes Softball Championship
08/13/2018

GMP Softball brings home the gold! Gollob Morgan Peddy takes first place in the City of Tyler Industrial Division summer softball league. The GMP team goes 7-1 on the year. The only loss came in the final game of the season in extra innings! Congrats to members of the GMP Team: Clint Cooper, Danny Gamez, Brandon Clark, Taylor Mathews, Tanner Doughten, Chase Doughten, Travis Payne, Greg Parker, Clint Sellers, Jared Guthrie and Will Richey. Also check out picutres from our office victory party. BTW- The name of our championship team - "The Great GASB." For you non-accountant types GASB actually stands for "Governmental Accounting Standards Board." Accounting humor, oh my!




GMP Announces Merger with Jerry Nelson & Associates
08/10/2018

Shane Rohrbach, GMP Managing Partner, announces the merger of Jerry Nelson & Associates into Gollob Morgan Peddy PC.

Click here for more details.




PAS and CICPAC Survey 2018
07/13/2018

PAS, Inc., the source for construction industry salary and benefit benchmark data, CICPAC, the CPAs who know construction, and Gollob Morgan Peddy, have developed this packet of the most comprehensive pay data available in the construction industry.

PAS and CICPAC 2018 Survey




How do you REALLY know the IRS is calling?
06/07/2018

Scam Prevention: IRS SETS OUT HOW IT DOES AND DOES NOT CONTACT TAXPAYERS

In order to help taxpayers avoid scams in which criminals impersonate IRS employees, IRS has issued a Fact Sheet in which it sets out the ways that it does and does not contact taxpayers.

  1. For several years now, IRS has been publishing, in various formats, information and warnings about scams that involve taxpayers and IRS and about how taxpayers can protect themselves from such scams.

Ways in which legitimate IRS employees contact taxpayers. Here are various ways that legitimate IRS employees contact taxpayers.

IRS initiates most contacts with taxpayers through regular mail delivered by the U.S. Postal Service. However, there are special circumstances in which IRS will call or come to a home or business, such as:

  • When a taxpayer has an overdue tax bill,
  • To secure a delinquent tax return or a delinquent employment tax payment, or
  • To tour a business, for example, as part of an audit or during criminal investigations.

Even then, taxpayers will generally first receive a letter or sometimes more than one letter, often called notices, from IRS in the mail.

IRS employees may make official and sometimes unannounced visits to discuss taxes owed or returns due as a part of an audit or investigation. Taxpayers generally will first receive a letter or notice from IRS in the mail. If a taxpayer has an outstanding federal tax debt, IRS will request full payment but will provide a range of payment options.

All IRS representatives will always provide their official credentials, called a pocket commission and a HSPD-12 card. The HSPD-12 card is a government-wide standard form of reliable identification for federal employees and contractors. Taxpayers have the right to see these credentials. IRS employees can provide an additional method to verify their identification. Upon request, they're able to provide a toll-free employee verification telephone number.

IRS employees may call taxpayers to set up appointments or discuss audits but not without first attempting to notify taxpayers by mail.

Calls from IRS-contracted private collection agencies. IRS assigns certain overdue tax debts to private debt collection agencies (PCAs). Here are the facts about this program:

  • IRS will send a letter to the taxpayer letting them know IRS has turned their case over to one of the four PCAs. The PCA will also send the taxpayer a letter confirming assignment of the taxpayer's account to the agency.
  • IRS will assign a taxpayer's account to only one of these agencies, never to all four. IRS authorizes no other private groups to represent IRS.
  • It's important to know that PCA representatives: will identify themselves and will ask for payment to "U.S. Treasury"; will not ask for payment on a prepaid debit or gift card; and will not take enforcement action.

Ways in which legitimate IRS employees will not contact taxpayers. Here are types of contacts that IRS will not make.

IRS does not:

  • Demand that people use a specific payment method, such as a prepaid debit card, gift card or wire transfer. IRS will not ask for debit or credit card numbers over the phone. People who owe taxes should make payments to the U.S. Treasury or review IRS.gov/payments for IRS online options.
  • Demand immediate tax payment. Normal correspondence begins with a letter in the mail and taxpayers can appeal or question what they owe. All taxpayers are advised to know their rights as a taxpayer.
  • Threaten to bring in local police, immigration officers or other law enforcement agencies to arrest people for not paying. IRS also cannot revoke a license or immigration status. Threats like these are common tactics scam artists use to trick victims into believing their schemes.

Collection employees won't demand immediate payment to a source other than "U.S. Treasury".

IRS employees conducting criminal investigations are federal law enforcement agents and will never demand money.

Scammers may, but IRS will not, ask taxpayers about refunds or filing status or ask them to confirm personal information, order transcripts, or verify personal identification numbers.

IRS does not use email, text messages, or social media to discuss tax debts or refunds with taxpayers.

References: For identity theft, see FTC 2d/FIN ¶ T-10164.4.




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10/21/2013

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