The Gordon Group Financial Services Inc.

11/02/2026

It’s the fourth quarter, small business owners. That means, just like in a football game, you have limited time to make winning moves — in this case, to lower your taxes for 2026. Many year-end strategies require time to evaluate, implement and document properly. Waiting until the last minute may leave you with little choice but to punt and hope for the best. The sooner you begin planning, the more options you may have in your tax-saving playbook. Call us at (732) 515-3944 to huddle up and discuss a game plan tailored to your business.

10/30/2026

The IRS has released its 2026–2027 per diem rates for certain business travel expenses, effective Oct. 1, 2026. Under the high-low substantiation method, the rate for lodging, meals and incidental expenses for travel to high-cost localities within the continental United States (CONUS) rises to $329 per day, from $319. The rate for other CONUS localities rises to $230, from $225. The portion attributable to meals remains $86 for high-cost areas and $74 for other areas. The incidental-expenses-only rate remains $5. Employers can pay more than the IRS per diem rates, but excess amounts generally must be substantiated or treated as taxable wages. Contact us at (732) 515-3944 to learn about all your options for substantiating business travel expenses.

10/28/2026

As your business grows, more people may need access to your accounting system. But when was the last time you reviewed the system’s user permissions? Outdated or excessive access can increase the risk of fraud, errors and unauthorized changes to your financial records. Year end is a good time to do some housekeeping. Confirm that employees and outside service providers have only the access they currently need. Pay special attention after employees change roles or leave your business, or when you switch vendors. We can help evaluate your accounting system’s security settings and strengthen internal controls. Call us at (732) 515-3944 to get started.

10/27/2026

Simple mistakes can prevent you from reaching retirement goals. The biggest error is not saving enough. If you expect to maintain your current lifestyle in retirement — which could last three decades or more — you’ll need to accumulate a surprisingly large sum. We can help set up a savings plan you’ll stick to. Call us at (732) 515-3944.

10/26/2026

You must pay the alternative minimum tax (AMT) if your AMT liability exceeds your regular tax liability. An exemption of $90,100 is available ($140,200 for joint filers, half that for separate filers), but it phases out when income exceeds certain levels — which have dropped for 2026. Plus, the exemption is now phased out twice as fast as in 2025. Add to that the impact of a potentially larger state and local tax deduction (which isn’t AMT-deductible), and you might be at higher AMT risk this year. Call us at (732) 515-3944 for help assessing your risk and finding strategies to minimize your taxes.

10/23/2026

If you’re responsible for collecting, accounting for or remitting federal taxes withheld from employee paychecks, beware of the trust fund recovery penalty (TFRP). As a responsible individual, you may be personally liable for a 100% penalty on income and employment taxes your business either fails to collect or fails to remit to the IRS. Your actions must be “willful,” meaning you’ve been, or should have been, aware of the responsibility and either intentionally disregarded the law or were indifferent to it. According to the IRS, no “evil intent or bad motive” is required. Call us at (732) 515-3944 if you receive a letter from the IRS about the TFRP or for help with tax compliance.

10/22/2026

ESTATE & LEGACY PLANNING DAY 1
YOUR LEGACY DESERVES A STRATEGY
YOU’VE BEEN NAMED AN EXECUTOR OR TRUSTEE. NOW WHAT?

Did you know that accepting responsibility for someone’s estate or trust may also come with IRS notification requirements?

One important document you should know about is IRS Form 56 — Notice Concerning Fiduciary Relationship.

This form notifies the IRS when an individual assumes certain fiduciary responsibilities, such as serving as an executor, administrator, or trustee.

Why does this matter?

Because managing someone’s financial legacy involves more than distributing assets.

It can also involve:

Communicating with the IRS

Managing tax obligations

Filing required tax returns

Protecting the interests of beneficiaries

Maintaining accurate financial records

And here’s something many people don’t realize: Form 56 is not the same as Form 1041, the income tax return for estates and trusts.

Each serves a different purpose.

At The Gordon Group Financial Services, we believe that preserving a legacy requires thoughtful planning AND responsible administration.

Creating wealth is important. Knowing how to manage and transfer it is just as important.

This week, we’re exploring trusts, estates, and the responsibilities that come with protecting your family’s financial future.

📩 Contact The Gordon Group Financial Services to discuss your estate and legacy planning needs.

WealthPreservation FinancialStewardship TaxStrategy

10/21/2026

10/21/2026

Reconstructing business mileage records months after the fact can be frustrating — and unreliable. If you or your employees use personal vehicles for business, establish a system for logging trips as they occur. QuickBooks users can take advantage of mobile tools that automatically track trips and classify business vs. personal mileage. Other mileage apps or a well-maintained manual log can also work. As year end approaches, make sure your records include key details, such as mileage and business purpose. Timely, accurate documentation is essential for bookkeeping, employee reimbursements and tax reporting. Call us at (732) 515-3944 for help improving your mileage tracking process.

10/20/2026

Money Movement Challenge