Income tax rate increases for the wealthiestThe rate brackets remain as they have been for the past 10 years, adjusted annually for inflation. The six existing tax rates – 10, 15, 25, 28, 33 and 35 percent – are retained. However, beginning Jan. 1, 2013, the act imposes a new 39.6 percent bracket that will […]
Provisions Primarily Affecting Individuals Read More »
By Michael D. Koppel, CPA, MSTGray, Gray & Gray, LLPDecember 2012 As the end of 2012 draws closer, many people start to think about enjoying the holidays. But as a business owner it is also time to plan for the all-important task of preparing to pay the tax bills your company will be responsible for
Planning For An Uncertain Tax Future Read More »
Joe Ciccarello, CPAGray, Gray & Gray, LLPSeptember 2011 As I write this, the oilheat industry is just coming off another price spike, during which many dealers delivered product at more than $4 per gallon. Although prices have backed off slightly these are still the highest prices we’ve seen since 2008. Yet this time around there
Dealing with $4 Oil Read More »
Joe Ciccarello, CPAGray, Gray & Gray, LLPSeptember 2011 As oilheat and propane dealers cope with rising prices for product and overhead, there is a constant struggle to set and maintain a margin that will allow them to cover costs and still make a profit. Perhaps it is time to take a page from other industries
A New Pricing Model for Oilheat Read More »
Joe Ciccarello, CPAGray, Gray & Gray, LLPApril 2012Should I stay or should I go now?If I go there will be trouble.If I stay it will be double. If you are old enough to remember these lyrics from The Clash, you are probably old enough to have retirement on your mind. And, given the very challenging
Should You Stay or Should You Go? Read More »
Joe Ciccarello, CPAGray, Gray & Gray, LLPAugust 2012 Have you seen the motion picture Moneyball? Or read the Michael Lewis book of the same name? If so, you know how general manager Billy Beane (portrayed in the movie by Brad Pitt) transformed the way the Oakland A’s baseball team managed the critical process of player selection and development.
"Moneyball" and Your Oil Business Read More »
Joe Ciccarello, CPAGray, Gray & Gray, LLPJuly 2012 Can you predict the winner of the Kentucky Derby in the year 2017? How about taking a guess at where the stock market will close on July 1, 2017? Or how much a barrel of crude oil will cost five years from today?Nobody can predict these events with any
What Will Your Business Look Like in Five Years? Read More »
Michael L. Cecere, CPA, MSTPartnerGray, Gray & Gray, LLP Certified Public Accountants Companies set up a 401(k) plan for their employees for many reasons. As a vehicle that can help supplement social security income for their employees’ retirement years, a 401(k) is an important recruiting and retention tool and an excellent alternative to a traditional,
Don’t Like Paying for Your 401(k) Plan Audit? Here’s an Alternative Read More »
Westwood, MA, April 4, 2013 – Movers, shakers and influencers in the New England merger & acquisition arena recently met to share ideas and make connections at a “DealMakers” event hosted by Gray, Gray & Gray Certified Public Accountants at their Westwood, MA offices. Buyers, sellers and M&A professionals discussed the current M&A market and
Such a Deal! Gray, Gray & Gray Hosts “DealMakers” Merger & Acquisition Roundtable Read More »
A recent tax court decision, Wandry v. Commissioner, T.C. Memo 2012-88, found that a gift can be made indicating an amount of assets rather than what the assets are. The taxpayers made a gift to their children and grandchildren in an LLC based on a specific dollar amount rather than a percentage of the LLC. Although this
A Major Win for Gift Tax Valuation Read More »