By Kelly A. Berardi, JD, LL.M.Gray, Gray & Gray, LLP In the entrepreneurial landscape, search funds have emerged as a compelling path for aspiring business owners to acquire and operate established companies. As search fund activity continues to grow, entrepreneurs and investors alike face critical decisions regarding fund structure and tax planning that can significantly […]
Structuring and Tax Efficiency for Search Funds Read More »
By Nathaniel C. Gravel, CISA, CISM, CRISCGray, Gray & Gray, LLP Ransomware has transformed from a relatively simple nuisance into one of the most persistent and damaging cybersecurity threats facing organizations today. Businesses of all sizes – from small local operations to multinational corporations – have fallen victim to increasingly sophisticated attacks. The threat landscape
Why Ransomware is a Growing Threat to Businesses of All Sizes Read More »
By Michael Cecere, CPA, MST & Julianne Schwallie, CPA, MBA Gray, Gray & Gray, LLP The landscape of charitable giving has evolved through various tax policy changes over the years. The current proposal by Massachusetts Governor Maura Healey to cap charitable deductions represents one of the most significant shifts we’ve seen in decades. If implemented,
What a Massachusetts Charitable Donation Cap Might Mean for Your Nonprofit Read More »
By Michael Cecere, CPA, MST & Julianne Schwallie, CPA, MBA Gray, Gray & Gray, LLP Nonprofit organizations continue to play a pivotal role in society, tackling diverse challenges and enriching communities through their endeavors. Their financial integrity is crucial to maintaining public trust and ensuring the continued impact of their work. Annual audits serve as
Checklist to Prepare for a Nonprofit Audit Read More »
By Michael Cecere, CPA, MST & Julianne Schwallie, CPA, MBA Gray, Gray & Gray, LLP To retain the trust and support of donors and the public, nonprofit organizations must maintain high levels of transparency, particularly in their financial reporting. Transparency helps to build trust and demonstrate that the organization is using its resources responsibly and
Best Practices for Transparency in Financial Reporting for Nonprofits Read More »
By Ashton Vigueras-LaRochelle Senior Integrations Consultant Gray, Gray & Gray, LLP As a consultant who has guided dozens of organizations through complex software integrations, there is often an initial uncertainty on which applications or business processes to address first. One of the first integrations that I often bring up is connecting Enterprise Resource Planning (ERP)
Streamlining Business Processes Through ERP and CRM Integration Read More »
The Alternative Fuel Tax Credit serves as an important federal tax benefit in the United States, reducing the tax burden for businesses and individuals who use fuel for specific qualifying activities. These activities include off-highway business operations, agricultural work and aviation purposes. To strengthen oversight of this program, the Internal Revenue Service has implemented new
IRS Tightens Oversight on Alternative Fuel Tax Credit Read More »
By Kevin F. Howley, CPAGray, Gray & Gray, LLP As a forensic accountant specializing in royalty audits for over two decades, I’ve encountered numerous instances where licensees or franchisees fall short of their contractual obligations. While each audit presents unique challenges, certain issues consistently emerge across industries and agreement types. Understanding these common findings can
Top 5 Findings in a Royalty Audit Read More »
Significant changes are coming to how businesses report their Research and Development (R&D) tax credits. The Internal Revenue Service has recently released draft revisions to Form 6765, marking the most substantial revision in the form’s history. Here’s what business owners and financial managers need to understand about these changes. New Reporting Requirements for 2024 For
IRS Updates R&D Tax Credit Form Read More »
The Commonwealth of Massachusetts has recently implemented significant changes to its financial reporting requirements for nonprofit organizations, marking an important shift that affects hundreds of organizations across the state. These changes reflect a more nuanced approach to financial oversight that better aligns with today’s economic realities. Under previous regulations, nonprofits with annual gross support and
Massachusetts Raises Financial Reporting Thresholds for Nonprofits Read More »