The economic impact of the COVID-19 crisis on Massachusetts is being seen in a $3 billion tax revenue shortfall for fiscal year 2020, as reported by the Department of Revenue. Yet that news came in conjunction with a report that July tax revenues were higher than expected, at $4.5 billion. Part of the July collections […]
Massachusetts Tax Revenues Fall Short, But Trend Higher Read More »
While not exactly a “traditional” gift for a high school graduate, paying for the creation of an estate plan for a young adult can have long term benefits for both the grad and their family. If you have a child, grandchild or other relative who recently graduated or reached age 18, an estate plan is
An Estate Plan Makes a Great Graduation Gift Read More »
While much attention has been paid to the federal government’s Paycheck Protection Program (PPP) loans, the Small Business Administration’s Economic Injury Disaster Loan (EIDL) program has also been an important source of funding for small businesses during the COVID-19 pandemic. EIDL loans usually only provide assistance after natural disasters like tornadoes, wildfires or floods. But
How You Can Use an SBA EIDL Loan Read More »
By Jim DeLeo, CPA, MBA/MST Gray, Gray & Gray, LLP The COVID-19 pandemic and resulting economic disruption has seen unemployment rates, both nationally and locally, rise steeply. Unlike many previous economic downturns, the impact is being felt across the board, including traditionally “white collar” jobs. But certain occupations are proving to be, if not recession-proof,
The coronavirus pandemic and subsequent economic disruption has had a broad impact across all industries, including energy marketers. The impact extends to a key management component for many fuel oil and propane retailers: transactional and succession planning. How can you plan for a future that is unpredictable? What effect will the financial crisis have on
During this webinar, Gray, Gray & Gray’s Jim DeLeo, Kelly Berardi, Brad Carlson and Derek Rawls explain the new guidelines and offer practical advice on how to reallocate PPP funds to potentially maximize value for your business within the new loan forgiveness constraints. Please complete the brief form below to access the “WEBINAR #11: Reprieve! Making the Most of the PPP
WEBINAR #11: Reprieve! Making the Most of the PPP Flexibility Act Form Read More »
During this insight-packed joint webinar, Gray, Gray & Gray Partner Joe Ciccarello, CPA, MST, and Director/Energy Practice Chair Marty Kirshner, CPA, MSA, along with Warm Thoughts Communications President Rich Goldberg and VP of Marketing Services Ben Gutkin, will review important factors that should impact your plans now. Click the button below for more details and to register now! Gray, Gray & Gray is the energy
“Fueling Your Future” WEBINAR #1: Helping Energy Companies Plan for What Comes Next Form Read More »
Although the U.S. economy is once again opening for business, the impact of the COVID-19 shutdown will have a lingering effect on businesses across virtually all industries. The acute disruption of “business as usual” will continue to make managing your company’s cash flow a top priority. Here are 11 tips for controlling and managing your
The Importance of Cash Flow Management in a Time of Crisis Read More »
During this webinar, Gray, Gray & Gray’s Director of Strategic Planning, Bryan Pearce, provides a look at how business leaders will need to adapt in the months ahead – from full or partial remote work as the way of the future, to managing a remote workforce, the impact of technology on business operations, business finance in transition,
WEBINAR #10: Getting Back to Business as (Not) Usual Form Read More »
Citing the global COVID-19 pandemic, the Financial Accounting Standards Board (FASB) has issued Accounting Standards Update (ASU) 2020-05, Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842) Effective Dates for Certain Entities. ASU 2020-05 extends the effective date of the new revenue recognition and lease accounting standards for private companies and not-for-profit organizations
Extended Deadlines for New Revenue Recognition and Lease Accounting Standards Read More »