Elvira Lawlor, CPAGray, Gray & Gray, LLP Both the federal government and the Commonwealth of Massachusetts are eager to help fuel the ongoing development and construction boom with some very attractive tax programs. Here are three tax programs you should know about. Opportunity Zone ProgramA brand-new tax incentive program was created by the Tax Cuts […]
Taking Advantage of Tax Benefits You May Not Know About Read More »
By Martin E. PrendergastGray, Gray & Gray, LLP If you are the principal in an architectural firm, engineering firm or construction company your days are probably filled with managing projects, putting together proposals for new work, reviewing plans, and tending to the hundreds of details that cross your desk. But in the midst of the
Building a Deep Bench is Part of Exit Planning Read More »
In order to remain competitive, businesses today must remain nimble, run lean, and streamline operations. The result is pressure to do more with fewer resources. These imperatives run across all types and sizes of businesses. One solution that many companies are taking advantage of is outsourcing select functions to achieve greater efficiencies and cost savings.
Why Your Accounting Should Be Outsourced Read More »
By Kevin Howley and Alex Montgomery What is one’s intellectual property (IP) worth? That’s an important question for a business or individual who holds a patent, trademark or copyright. Of equal interest is how to guarantee that the owner of the IP is adequately and fully compensated for its use by licensees. That is where
Protecting Your IP Revenue Stream Read More »
By Kevin F. HowleyGray, Gray & Gray, LLP If you are a licensor of intellectual property, royalty payments are at the core of the value of your business. Your investment of time, talent and capital is repaid in installments from licensees. They are not sharing in their success, but fulfilling their end of a business
5 Red Flags of License Royalty Payment Problems Read More »
By Martin E. PrendergastGray, Gray & Gray, LLP If you are an architectural or engineering firm that does work in states other than your own, you may be on the hook for payment of state and local taxes. States and municipalities across the country are struggling to close budget gaps and fund obligations such as
Has Your A&E Firm Unknowingly Created State and Local Tax Exposure? Read More »
Family businesses account for 64 percent of U.S. gross domestic product, generate 62 percent of the country’s employment, and account for 78 percent of all new job creation.1 Yet the average life span of a family business is a mere 24 years. Less than one in three family-owned businesses survive to be passed on to
Avoid These Seven Mistakes in Succession Planning Read More »
By Martin E. PrendergastGray, Gray & Gray, LLP One of the biggest changes to emerge from the Tax Cuts and Jobs Act of 2017 was a significant drop in the corporate tax rate, from 35% to 21%. However, this new tax rate only applies to businesses structured as C Corp entities. Does this mean that
Should You Restructure Your Firm to Save on Taxes? Read More »
The reach of the recently enacted Tax Cuts and Jobs Act is far and deep, and even extends into the type of IRA you should consider: regular or Roth? And if you have a regular IRA, should you convert it to a Roth IRA and when? Keep in mind that an investment in a regular
Is Now the Time to Convert to a Roth IRA? Read More »
By Kevin F. Howley, CPAGray, Gray & Gray, LLP Royalty payments from the licensing of intellectual property can be a significant source of revenue for a business. But not all licensees keep up to date with their royalty payments, and others may pay a lower amount than required by their agreement. Which is why a
Make Sure Your Licensees are Paying Their Royalties Read More »