By Nathaniel C. Gravel, CISA, CISM, CRISC Hundreds of thousands of organizations in the U.S. and around the world rely on Microsoft’s Office 365 software suite to run their businesses. But recent events have shown that even this highly regarded software is vulnerable to penetration by increasingly sophisticated methods used by cyber criminals. The biggest […]
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With inflation continuing to pose a financial challenge American taxpayers will soon be getting some relief from the Internal Revenue Service (IRS). Annual inflation adjustments made by the IRS went into effect in 1985. For the 2023 tax year the IRS is increasing the standard deduction and adjusting the income limits for tax brackets. The
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The Social Security Administration (SSA) recently announced that the “wage base” for computing Social Security tax will increase for 2023 to $160,200. This is up from $147,000 for 2022. Federal law limits the amount of earnings that are subject to the Old-Age, Survivors, and Disability Insurance (OASDI) tax in a given year. This threshold, referred to
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By Nathaniel C. Gravel, CISA, CISM, CRISC With an estimated 2,200 cyberattacks taking place each day – one every 39 seconds – the task of creating and deploying a defensive strategy for your business can be intimidating. Still, the threat is too great to ignore, not to mention the fact that most states have strict
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By Nathaniel C. Gravel, CISA, CISM, CRISC The number one cause of cybersecurity breaches in the U.S. is human error. Statistics show that 70% of all cyber intrusions are caused by somebody clicking on the wrong link, downloading an infected attachment, or responding to an email that looked legitimate but was a deception. Collectively known
How Simulated Phishing Can Save Your Business Read More »
Register now for Gray, Gray & Gray’s Year End Planning Seminar on Thursday, December 1st! In-Person: Gray, Gray & Gray’s Canton Office150 Royall Street Canton, MA 02021 Registration, Breakfast & Networking: 8:00 am – 9:00 amSeminar Sessions: 9:00 am – 12:00 pm Advance registration required. Attendance is free, but seating is limited. Please reserve your
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By Martin E. Prendergast Gray, Gray & Gray, LLP While the recently enacted Inflation Reduction Act is making headlines for its energy and healthcare facets – along with a big ramp up in IRS muscle – there are several provisions that could benefit practitioners in the architectural and engineering fields. Here are some highlights of
Architects and Engineers Benefit from Inflation Reduction Act Read More »
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Canton, MA (August 31, 2022): For the second consecutive year, Gray, Gray & Gray, LLP (www.gggllp.com), a certified public accounting, consulting and business advisory firm based in Canton, MA, has been named to “Best of the Best” as one of the nation’s best-managed firms by INSIDE Public Accounting magazine. Gray, Gray & Gray is the
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If your organization has met the IRS qualifications to be considered tax-exempt, the income you receive — such as donor contributions — is exempt from federal income tax. However, it’s still possible for not-for-profits to follow the rules and experience adverse tax consequences. Here are five potential tax traps that could catch you off guard. 1.
Avoiding Nonprofit Tax Traps Read More »