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Achieving Success Through an Integrated Approach to a Business Sale

“We were too big to be small, and too small to be big. The liquid fuel industry is shrinking, and we were growing increasingly uncomfortable with industry trends.” That is how Chuck Holden, President of Holden Oil, a third-generation fuel oil and propane company based in Peabody, Massachusetts, describes the situation he found his family’s …

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Securing Private Data is No Longer an Option – Why You Need a WISP

By Bobby Garrett Director of IT & Cybersecurity Gray, Gray & Gray, LLP Architectural and engineering firms that have not yet implemented a Written Information Security Plan (WISP) for their business are taking a huge risk. Data breaches and security hacks occur every day, affecting firms of all sizes and types. In just one example, …

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Why the Quality of Your Audit Matters

By Michael Cecere, CPA, MST Gray, Gray & Gray, LLP Most Certified Public Accounting (CPA) firms provide audits of financial statements. But that does not mean all audits are created equal. Although there are accepted standards for the audit process (Generally Accepted Auditing Standards, or GAAS), the quality and accuracy of audit examination and reporting …

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Press Release

Gray, Gray & Gray’s Tom Yuen Named to Boston Business Journal “40 Under 40” List

Canton, MA (August 31, 2021):  Tom Yuen, CPA, MST, a partner at  Gray, Gray & Gray, LLP, a business consulting and accounting firm, has been named to the Boston Business Journal’s 2021 “40 Under 40” list, an award that celebrates the city’s best and brightest young professionals. Yuen leads Gray, Gray & Gray’s Life Sciences …

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Articles

You Can Only Claim A Casualty Loss Tax Deduction In Certain Situations

In recent weeks, some Americans have been victimized by hurricanes, severe storms, flooding, wildfires and other disasters. No matter where you live, unexpected disasters may cause damage to your home or personal property. Before the Tax Cuts and Jobs Act (TCJA), eligible casualty loss victims could claim a deduction on their tax returns. But there …

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Press Release

Gray, Gray & Gray Named to “Best of the Best” Accounting Firms

Canton, MA (August 23, 2021):   Gray, Gray & Gray, LLP (www.gggllp.com), a certified public accounting, consulting and business advisory firm based in Canton, MA, has been named to “Best of the Best” as one of the nation’s best-managed firms by INSIDE Public Accounting magazine. The publication’s annual “Best of the Best” list recognizes the 50 …

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Articles

Proposed Changes to Gift and Estate Tax Could Have Huge Impact

Legislation filed in Congress could have a significant impact on gift and estate planning.  It is important that those who are likely to be affected know what the proposed legislation entails and how it might make changes to estate planning advisable – even necessary. Unlike typical tax legislation, these measures have the potential to be …

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Koch’s Corner: Accounting for the Employee Retention Tax Credit

Koch’s Corner delivers concise, “need to know” summaries of important updates on accounting and assurance issues for privately-held companies. By Richard Koch, CPA Director of Quality Control at Gray, Gray & Gray The Employee Retention Tax Credit (“ERC”) has provided many employers with significant tax credits for retaining workers.  While the Paycheck Protection Program (“PPP”) …

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