Canton, MA (April 1, 2019): Gray, Gray & Gray, LLP of Canton, MA, has been ranked as the 21st largest accounting firm in Massachusetts by the Boston Business Journal. The annual rankings are based on the size of the firm’s professional staff in the state and include both independent firms and regional offices of large …
Gray, Gray, & Gray Ranked Among Top Massachusetts Accounting Firms Read More »
Canton, MA (April 1, 2019): Gray, Gray & Gray, LLP of Canton, MA, has been ranked as the ninth largest accounting firm in New England by Accounting Today, the accounting industry’s leading publication. The annual rankings are based on firm revenues. Gray, Gray & Gray is the fourth largest Massachusetts-based firm. “We are pleased to …
Gray, Gray, & Gray Ranked Among Top New England Accounting Firms Read More »
On the campaign trail, President Trump pledged that tax reform under his leadership would target carried interests — more widely known in the real estate industry as the “promote” in partnership agreements or operating agreements for limited liability companies (LLCs) that are treated as partnerships for tax purposes. In the end, the Tax Cuts and …
New Law Increases Holding Period for Carried Interests Read More »
Federal tax law has permitted U.S. businesses to form so-called “captive” insurance companies for many years, and numerous large companies have done so. It’s only relatively recently that the arrangement has gained traction with smaller public and privately owned companies. Could your real estate business benefit from pursuing captive insurance strategies? To find the answer, …
Captive Insurance Strategies Can Pay Off For Real Estate Operators Read More »
By Richard Hirschen, CPA, CGMAGray, Gray & Gray, LLP Changes to the way leases are treated for accounting purposes were issued back in 2016 but are just now becoming effective. The new standard significantly changes how leases are recorded and will have an impact on both tenants and landlords. The new Financial Accounting Standards Board …
How New Lease Accounting Rules May Impact Landlords and Tenants 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 …
The Bipartisan Budget Act of 2015 (BBA) included a provision which created new partnership audit rules. It is important to recognize that partnerships (including LLCs taxed as a partnership) will be subject to these new rules for years beginning on or after January 1, 2018. The reason Congress passed the new rules are pretty simple: …
By Michael D. Koppel, CPA, PFS, CITP, MBARetired PartnerDecember 1, 2018 Sec. 529 plans have been available to help plan for children’s or grandchildren’s post-secondary education for over 20 years. Each state has slightly different investment and other rules. Sec. 529 plans are great vehicles for saving, as the income in the plan is tax-deferred (Sec. 529(c)(1)) and qualified …
Whether to choose a 529 or a Roth IRA to fund education expenses Read More »
Businesses of all sizes should be alert for a growing scheme in which identity thieves attempt to steal personal information on company employees by accessing their W-2 forms. This sensitive data is highly valued by cyber criminals. Small businesses who may not have dedicated HR or payroll staffs are particularly vulnerable to this scam. Here …
Tax Time Trouble – New W-2 Scam Seeks Employee Information Read More »
By Venice Touze, MSTTax ManagerEditor: Michael D. Koppel, CPA, PFS, CITP, MBA (Retired Partner)December 1, 2018 The significant reduction in the corporate tax rate (from 35% to 21%) brought about by the law known as the Tax Cuts and Jobs Act of 2017 (TCJA), P.L. 115-97, has many S corporations considering whether to convert to a C corporation …