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 »
Research & Development Credits are not just for scientists and software developers By Bradford G. Carlson; Paul J. Gerry, Jr., CPA, PFS; Martin E. Prendergast; Karen G. Timmermans, CPAGray, Gray & Gray, LLP If you think the Research & Development Tax Credits offered by the federal government are just for high technology, life sciences or computer
Does Your Architectural or Engineering Firm Qualify for R&D Tax Credits? Read More »