News & Events

Ins and Outs of Private Foundations

The term “501(c)(3) organization” — which refers to the Internal Revenue Code section governing not-for-profit entities — often is used interchangeably with “public charity.” But not all 501(c)(3) organizations are public charities. Some are private foundations, and they’re subject to different tax rules. Individual and Family Charity A private foundation is a 501(c)(3) organization created by […]

Ins and Outs of Private Foundations Read More »

Press Release - Inside Public Accounting Top 200 Firms

Gray, Gray, & Gray Ranked Among Top 200 Accounting Firms in U.S. for 11th Consecutive Year

Canton, MA (July 27, 2022):   Gray, Gray, & Gray, LLP (www.gggllp.com), a certified public accounting and business advisory firm in Canton, MA, has been named one of the country’s Top 200 accounting firms by INSIDE Public Accounting magazine. The publication ranked Gray, Gray & Gray as the 154th largest accounting firm in the U.S. and

Gray, Gray, & Gray Ranked Among Top 200 Accounting Firms in U.S. for 11th Consecutive Year Read More »

Don’t Jeopardize Your Nonprofit’s Tax-Exempt Status

The tax-exempt status of a 501(c)(3) organization is its lifeblood. Without it, most not-for-profits couldn’t obtain the financial and other support they need to fulfill their mission. That’s why you need to protect your exempt status at all costs. 6 Violations Following is a brief overview of six common ways nonprofits’ tax-exempt status can be jeopardized

Don’t Jeopardize Your Nonprofit’s Tax-Exempt Status Read More »

Retirement Tax Break Going Away

Some taxpayers who have been playing “catch up” on their retirement savings after age 50 will soon be losing one of the tax breaks they have enjoyed. Starting January 1, 2024, any catch up 401(k) contribution made by a taxpayer earning $145,000 or more during the previous year must be made – after taxes –

Retirement Tax Break Going Away Read More »

R&D Tax Treatments Still in Limbo

By Martin E. PrendergastGray, Gray & Gray, LLP Since the availability of immediate R&D expensing was eviscerated by the Tax Cuts and Jobs Act (TCJA) of 2017, business advocates and many members of Congress have been actively seeking to reverse the changes. The new rules requiring R&D spending to be amortized over five years (15

R&D Tax Treatments Still in Limbo Read More »

Baseline Security Measures for Cloud Environments

By Nathaniel C. Gravel, CISA, CISM, CRISC Securing cloud-based data must be a top priority for organizations that increasingly rely on cloud services for their daily operations. The rapid growth of cloud computing and the vast amount of sensitive information stored in these environments make it crucial to implement robust security measures to protect your

Baseline Security Measures for Cloud Environments Read More »

R&D Tax Expense Restoration Moves Forward in Congress

The movement to restore full expensing of R&D costs in the year the expenses are incurred, instead of amortizing them over 5 years, is gaining momentum in Congress. A bi-partisan bill had previously been filed in the U.S. Senate to return full expensing of R&D Costs (S. 866). That effort has now been joined by

R&D Tax Expense Restoration Moves Forward in Congress Read More »

Gray, Gray, & Gray Ranked Among Top New England Accounting Firms by Accounting Today

Canton, MA (April 6, 2023):  Gray, Gray & Gray, LLP, a business consulting and accounting firm based in Canton, MA, has been ranked as the seventh largest independent accounting firm in New England by Accounting Today, the accounting industry’s foremost publication. Gray, Gray & Gray’s annual revenue of $29.5 million represents a rate of growth

Gray, Gray, & Gray Ranked Among Top New England Accounting Firms by Accounting Today Read More »

Changes in Form 5500 May Benefit Small Business Benefit Plans

Following the passage of the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) and its successor, SECURE 2.0, several changes were made in the requirements for filing IRS Form 5500 or the simpler Form 5500-SF (Short Form Annual Return/Report of Small Employee Benefit Plan). One of the changes is an adjustment

Changes in Form 5500 May Benefit Small Business Benefit Plans Read More »

2023 Gray, Gray & Gray Energy and Propane Industry Survey Now Open

Canton, MA (April 3, 2023):  Gray, Gray & Gray, LLP, a consulting and accounting firm serving the fuel oil and propane industry, has opened its 2023 annual Energy and Propane Survey. This is the firm’s 32nd year of conducting its industry-leading survey of the nation’s energy marketers, and the 7th year for their focus on

2023 Gray, Gray & Gray Energy and Propane Industry Survey Now Open Read More »

Scroll to Top