Gray, Gray & Gray, LLP

The financial viability of any business depends on its ability to achieve its operating objectives and fulfill its mission over the long-term. A business must be able to generate sufficient income to meet operating expenses, debt service (principal and interest payments) and allow for growth while maintaining excellent customer experiences. This is an important concept […]

ALL YOU NEED TO KNOW ABOUT GIFTINGTuesday, March 13th10:00 am ESTTO REGISTER FOR THIS WEBINAR, PLEASE CLICK HERE Please join us for an important webinar on possible changes to the rules and regulations regarding gifting and the gift tax rate. If you are planning on leaving a financial legacy for your children and grandchildren, you

The IRS 1099 form could be the single most important – and annoying – piece of paper you’ll have to deal with this year. Any money you paid out in 2011 (anything $600 and above) for rent or for compensation for non-employees requires that you provide the recipient with a 1099-MISC form, and that you

“In this world nothing can be said to be certain, except death and taxes.”– Benjamin FranklinIn the years since Mr. Franklin penned this notable adage, the question has ironically become, “How can we best avoid the taxes caused by death?” Gift and estate taxes have been part of the American tax scene for many years. Currently,

Last week, Grant Thornton, a large international accounting firm, finalized an agreement to acquire CCR LLP, a New England-based accounting firm that was formerly known as Carlin, Charron & Rosen. This is the latest in a series of national firms buying up regional firms in our area. Some people think you must be a client

Tommy Yuen, CPA, Gray, Gray & Gray, LLP, Westwood, MAPublished December 01, 2011 in The Tax Advisor – AICPAEditor: Michael D. Koppel, CPA, MSA, MBA, PFS, CITP  Procedure & AdministrationThe misclassification of workers by taxpayers has been a widespread problem. By treating workers as non-employees, taxpayers do not pay the employer portion of the Social Security

By Michael Cecere, CPA, MSTGray, Gray & Gray, LLP In the challenging economic times we are currently experiencing, individuals seeking to supplement or replace lost income, or to get through financial crises such as unemployment and medical emergencies, have taken to “raiding” their own 401(k) plans. This is a fiscally risky move that could have

By Michael D. Koppel, CPATax PartnerGray, Gray & Gray, LLPMarch 2011 The recently enacted tax law (formally known as the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010) has far reaching implications for taxpayers beyond the retention of the Bush-era tax cuts. The new law has also completely changed the gift and

By Michael Cecere, CPA, MSTGray, Gray & Gray, LLP If your company offers employees a 401(k), pension plan or other similar employee benefit plan, you are providing an important benefit. However, this benefit comes with strings attached. Those strings are the complex and burdensome fiduciary responsibilities surrounding the management of a 401(k) and similar employee