Explore SEPs and SIMPLE Retirement Plans: What’s the difference?

BY Derek McDonough, EA, MST Tax Manager Thinking about setting up a retirement plan for yourself and/or your employees? You may be naturally concerned about the financial commitment and administrative burdens involved. However, there are a couple of options you could...

Derek McDonough Welcomed as New Tax Manager

G.T. Reilly & Company is pleased to announce that Derek McDonough, MST, EA, joined the firm as a Tax Manager. As an Enrolled Agent and a tax professional over the past decade, McDonough focuses on income tax planning and compliance for high-net-worth individuals...

Understand Your Supply Chain During Tariff Uncertainty

By Kevin J. Bonnett, CPA Vice President & Director There is a lot of concern among manufacturing, distribution and other business clients about tariffs. One of our distribution clients purchases the majority of their product from China and is limited by time and...

Tips for Hiring Independent Contractors

By Ryan J. McDonell, CPA, MSA, MSLT Tax Director Businesses often turn to independent contractors to supplement their workforce when faced with staffing shortages and inflation. While independent contractors can be a valuable resource, businesses should be cautious to...

The “wash sale” rule: Don’t let losses circle the drain

By Charles R. Kennedy, CPA, MBA Vice President & Director of Tax Services Stock, mutual fund and ETF prices have bounced around lately. Investors may see a loss generated on the sale of a security as helping offset gains that have already been realized. However,...