The U.S. Small Business Administration (SBA) has issued further guidance to clarify the loan forgiveness provision of the Paycheck Protection Program (PPP) part of the CARES Act. In particular, the new guidance addresses questions about the eligibility for forgiveness of owner compensation and specific non-payroll costs. In response to public questions about C- and S-Corporation […]
New PPP Forgiveness Guidance Issued by SBA Read More »
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 »
Canton, MA (August 6, 2020): Gray, Gray, & Gray, LLP (www.gggcpas.com) 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 172nd largest accounting firm in the U.S., and fourth largest independent accounting firm in Massachusetts. This is the eighth consecutive year the firm
Gray, Gray, & Gray Ranked Among Top 200 Accounting Firms in U.S. Read More »
The unprecedented spread of the novel Covid-19 “Coronavirus” continues to impact our daily lives, including the way in which we conduct business. Gray, Gray & Gray leadership is closely monitoring the information shared by the Centers for Disease Control and Prevention (CDC) and State officials about the virus, and exercising necessary precautions. The health and
An Important Announcement for Our Clients Regarding Coronavirus Read More »
Click Here to Register for Recorded Session TWO-PART SESSION: Session 2: Panel on Serving as Strategic Advisors As the accounting industry continues to undergo changes in light of technological advances and growing demands from clients and the marketplace for more proactive, advisory services, we must adapt or become obsolete. The purpose of this two-part session is
Gray Academy: What it Means to be a Consultant Segment 2 (Self-Study) 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 »
Click Here to Register for Recorded Session TWO-PART SESSION: Session 1: Making the Shift to a Consultant Session 2: Panel on Serving as Strategic Advisors (Register for Part 2 Separately) As the accounting industry continues to undergo changes in light of technological advances and growing demands from clients
Gray Academy: What it Means to be a Consultant Segment 1 (Self-Study) Read More »
By Kevin F. Howley, CPA Gray, Gray & Gray, LLP The economic disruption caused by the COVID-19 pandemic has generated a need for many businesses to take a hard look at expenditures in order to carefully guard their cash flow. Unfortunately, some companies that license intellectual property or operate as a franchise may be tempted
Collecting Royalty Payments in a Down Economy 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,