By Martin E. PrendergastGray, Gray & Gray, LLP If you are the principal in an architectural firm, engineering firm or construction company your days are probably filled with managing projects, putting together proposals for new work, reviewing plans, and tending to the hundreds of details that cross your desk. But in the midst of the […]
Building a Deep Bench is Part of Exit Planning Read More »
The Massachusetts Supreme Judicial Court has ruled that commission-based employees must be paid overtime and Sunday premium pay rates. The plaintiffs in the case were Massachusetts employees of a national mattress store chain who were paid on commission with a daily draw of $125. The store’s attorneys argued that, on balance, the overall weekly wages
Commission-Only Employees Due Overtime Wages Read More »
Landlords and commercial property owners may want to take advantage of more favorable property depreciation rules that were part of the Tax Cut and Jobs Act, which are now in effect. The depreciation rules can be applied to most tangible property, including buildings, furniture, machinery, equipment and vehicles; but depreciation cannot be applied to land.
Maximizing Business Property Depreciation Under the New Tax Law Read More »
By Martin E. PrendergastGray, Gray & Gray, LLP Since it was first enacted in 2005, the Energy Efficient Commercial Building Tax Deduction (commonly referred to as Section 179D after its U.S. Internal Revenue Code section number) has had more lives than a nervous cat. This “green credit” for energy efficiency upgrades has expired, been revived
How Architects & Engineers Can Benefit from Section 179D Read More »
By Kimberly Benevides, CPA, MSTManager at Gray, Gray & Gray, LLP In order to remain competitive, businesses today must remain nimble, run lean, and streamline operations. The result is pressure to do more with fewer resources. These imperatives run across all types and sizes of businesses. One solution that many companies are taking advantage of
Why Your Accounting Should Be Outsourced Read More »
By Kevin Howley and Alex Montgomery What is one’s intellectual property (IP) worth? That’s an important question for a business or individual who holds a patent, trademark or copyright. Of equal interest is how to guarantee that the owner of the IP is adequately and fully compensated for its use by licensees. That is where
Protecting Your IP Revenue Stream Read More »
On the campaign trail, President Trump pledged that tax reform under his leadership would target carried interests — more widely known in the real estate industry as the “promote” in partnership agreements or operating agreements for limited liability companies (LLCs) that are treated as partnerships for tax purposes. In the end, the Tax Cuts and
New Law Increases Holding Period for Carried Interests Read More »
Federal tax law has permitted U.S. businesses to form so-called “captive” insurance companies for many years, and numerous large companies have done so. It’s only relatively recently that the arrangement has gained traction with smaller public and privately owned companies. Could your real estate business benefit from pursuing captive insurance strategies? To find the answer,
Captive Insurance Strategies Can Pay Off For Real Estate Operators Read More »
By Richard Hirschen, CPA, CGMAGray, Gray & Gray, LLP Changes to the way leases are treated for accounting purposes were issued back in 2016 but are just now becoming effective. The new standard significantly changes how leases are recorded and will have an impact on both tenants and landlords. The new Financial Accounting Standards Board
How New Lease Accounting Rules May Impact Landlords and Tenants Read More »
By Kevin F. HowleyGray, Gray & Gray, LLP If you are a licensor of intellectual property, royalty payments are at the core of the value of your business. Your investment of time, talent and capital is repaid in installments from licensees. They are not sharing in their success, but fulfilling their end of a business
5 Red Flags of License Royalty Payment Problems Read More »