Discover proven, accessible approaches to thinking strategically about your business in order to make more informed decisions, with a focus on the six business drivers that will put you in a position to succeed. By Bryan E. Pearce Director of Strategic Business Planning Gray, Gray & Gray, LLP “If you don’t have a customer, you […]
Strategy Session: The Importance of Understanding Your Customers Read More »
By Jim Donellon, CPA, MSA Partner, Gray, Gray & Gray, LLP How the costs of obtaining a contract are accounted for has changed. And its complicated, particularly for software and SaaS companies who compensate salespeople on a commission basis. This new guidance aligns the costs of obtaining a contract with the timing of recognizing the
New Accounting Rules for Software Sales Commissions Read More »
Discover proven, accessible approaches to thinking strategically about your business in order to make more informed decisions, with a focus on the six business drivers that will put you in a position to succeed. By Bryan E. PearceDirector of Strategic Business PlanningGray, Gray & Gray, LLP “Change has never happened this fast before, and it
When software programs were installed from a floppy disc or CD-ROM it was easier to identify and account for implementation costs. But the move to cloud computing and SaaS (Software as a Service) muddied the accounting waters. Last year the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU-2018-15) to address the issue. The
New Accounting Standards for Software as a Service Contracts Read More »
Congress has reached an agreement to extend a wide range of expired tax credits through 2020, with some – including credits for biodiesel and alternative fuels – being put in place through 2022. The deal would renew numerous tax provisions that either expired at the beginning of 2018 or this year or were set to
Deal to Extend Tax Credit Reached Read More »
Congress has reached an agreement to extend the tax credits for biodiesel, renewable diesel, and alternative fuels for an additional five years. The tax credit of $1.00 per gallon for biodiesel and renewable diesel, and $0.50 per gallon for alternate fuels (including autogas propane), will be retroactively applied for 2018 and 2019, and extended through
Biodiesel Tax Credit Extended Through 2022 Read More »
By Martin E. PrendergastGray, Gray & Gray, LLP Congress and the White House have reached an agreement to extend a wide range of expired tax credits. The deal would renew numerous tax provisions that either expired at the end of 2017 or 2018, or were set to expire as of December 31, 2019. The extended
Section 179D Energy Efficiency Tax Deduction Extended Read More »
By Michael D. Koppel, CPA, PFS, CITP, MBARetired PartnerDecember 1, 2019 Editor: Marcy Lantz, CPA It is not unusual to read news stories about companies being sued for classifying workers as independent contractors when they claim to be employees. Being designated an employee can have a profound effect on everything from overtime pay to fringe
Independent Contractor or Employee? Varying Tests Read More »
Elvira Lawlor, CPAGray, Gray & Gray, LLP Both the federal government and the Commonwealth of Massachusetts are eager to help fuel the ongoing development and construction boom with some very attractive tax programs. Here are three tax programs you should know about. Opportunity Zone ProgramA brand-new tax incentive program was created by the Tax Cuts
Taking Advantage of Tax Benefits You May Not Know About Read More »
Kevin F. Howley, CPA, PartnerMichael D. Koppel, CPA, PFS, CITP, MBA, Retired PartnerGray, Gray & Gray, LLP If your architectural or engineering firm is organized as a partnership (or LLC taxed as a partnership) there are new rules you should be aware of concerning potential IRS audits. The changes were made to increase the number
The IRS Has Changed the Rules on Partnerships Read More »