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Recognizing When Your Business Has Outgrown Its Financial Software

As businesses evolve, the financial software that once seemed perfectly adequate can become a bottleneck, hindering growth rather than facilitating it. Recognizing the signs that your company has outgrown its basic bookkeeping and financial management software is crucial for maintaining efficiency, accuracy, and competitive edge. Upgrading to a more robust platform like Sage Intacct can […]

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5 Ways Outsourcing Can Transform Financial Management for Growth-Oriented SMEs

By Pamela Holmes Gray, Gray & Gray, LLP Growth-oriented small- and medium-sized enterprises (SMEs) face a constant challenge: balancing the pursuit of expansion with the need for sound financial management. As SMEs navigate the complexities of growth, their financial operations often become strained, leading to inefficiencies, resource constraints, and even impeded growth prospects. In such

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Important Tax Deadlines for the 2023 Tax Year

Individuals and businesses need be aware of upcoming deadlines for filing taxes and submitting various forms. Staying informed and prepared will help ensure compliance with the IRS requirements and avoid potential penalties. Below are the key deadlines for the 2023 tax year that you need to mark on your calendar. For Individuals: April 15, 2024:

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Avoiding Unexpected Tax Implications in Mergers and Acquisitions

By James DeLeo, MBA, CPA/MST & Kelly Berardi, JD, LL.M.Gray, Gray & Gray, LLP One of the most important aspects of any M&A deal is the tax planning. While experienced dealmakers know to expect certain tax consequences, there are often unexpected tax implications that can arise. These unexpected tax bills can have a significant impact

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Gray, Gray, & Gray Ranked Among Top Massachusetts Accounting Firms by Boston Business Journal

Canton, MA (February 14, 2024):  Gray, Gray & Gray, LLP, an accounting and business consulting firm based in Canton, MA, has been ranked as the 17th largest accounting firm in Massachusetts by the Boston Business Journal, up two spots from the previous year’s position. The publication’s annual rankings are based on the size of the

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U.S. House Passes Act to Extend R&D Tax Credits

On January 31st, the U.S. House of Representatives passed the Relief for American Families & Workers Act of 2024, which includes significant changes to Section 174 Research and Development (R&D) expensing rules, enhancements to the Child Tax Credit, and restoration of several other business friendly provisions. The bi-partisan agreement still needs to be finalized and passed

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Sales and Use Tax Five Years After Wayfair

By Derek Rawls, CPA, MSTGray, Gray & Gray, LLP The landmark Supreme Court decision in South Dakota v. Wayfair, Inc. in 2018 fundamentally altered the landscape of sales and use tax compliance for businesses with multistate sales. By overturning the physical presence requirement, the Court paved the way for states to require remote sellers to

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Andrea Cincotta of Gray, Gray & Gray Elected to Regional Chamber Board

Canton, MA (January 22, 2024):  Andrea Cincotta, CPA, MBA, a Manager with  Gray, Gray & Gray, LLP, a business consulting and accounting firm based in Canton, MA, has been elected to the Board of Directors of the Neponset River Regional Chamber of Commerce. “It is a privilege and a pleasure to serve on the Board,”

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Gray, Gray, & Gray Promotes 6 Team Members

Canton, MA (January 17, 2024):  Gray, Gray & Gray, LLP, a business consulting and accounting firm based in Canton, MA, has announced the promotion of six team members to new positions: Kerin Coleman has been promoted to Senior Staff Accountant in the Tax Department. She is a graduate of Merrimack College and joined the firm

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7 Fringe Benefits for Nonprofit Employers to Offer

One of the biggest challenges facing not-for-profit organizations is finding and retaining top-quality talent. It’s hard enough to overcome the perception — often a misconception — that nonprofits don’t pay their employees nearly as well as for-profit companies. When benefits are factored in, nonprofits can look more attractive. So you may want to review, and possibly

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