That email from the boss asking for personal data on employees could be a fraudulent attempt to steal their identities. That’s the warning from the Internal Revenue Service (IRS) on the latest online “spoofing” scam to rear its ugly head. The IRS issued an alert to human resources and payroll professionals to warn them about […]
The Latest “Spoofing” Scam Appears to Come from the Corner Office Read More »
Employee benefits can be critical to the success of an M&A deal’s integration phase. If handled poorly, the process of transferring and restructuring benefits might alienate key employees — and even expose buyers to legal claims. To avoid such consequences, review your target company’s current benefits package before the deal closes. In particular, keep an
Why Buyers Need to Pay Attention to Employee Benefits Read More »
The ongoing battle over the collection of sales tax by online retailers has taken a new turn following a ruling by a federal appeals court that could pave the way for states to collect tax on online sales. The 10th U.S. Circuit Court of Appeals in Denver this week reversed a lower court ruling that
Attention Online Shoppers: Your State Wants Their Sales Tax Read More »
If you owe back taxes to the Commonwealth of Massachusetts, you may be able to avoid paying penalties by participating in the state’s 2016 Tax Amnesty. From April 1 through May 31, 2016, the Massachusetts Department of Revenue (DOR) will allow individuals and businesses to “catch up” on back taxes (with certain exceptions). If you
Massachusetts Announces 2016 Tax Amnesty Program Read More »
How quickly can you sell or acquire a business? As with most major transactions, it depends. Once parties agree to merge, deals typically take six to 18 months to conclude. The selling company’s size and industry, the complexity of the transaction, and the buyer’s ability to get financing, among other factors, can all affect timing.
It’s About Time: Keep Your Deal Moving — But Not Too Quickly Read More »
By Michael D. Koppel, CPA, PFS, CITP, MSA, MBARetired Partner at Gray, Gray & GrayDecember 1, 2015 In July, the U.S. Department of Labor’s (DOL’s) Wage and Hour Division issued Administrator’s Interpretation No. 2015-1, which addresses issues arising from the misclassification of employees as independent contractors. The interpretation addresses the application of the Fair Labor
By Richard A. Hirschen, CPA, CGMAGray, Gray & Gray, LLP The federal government recently announced that the nationwide unemployment rate dropped to 5% in October, the lowest it has been since 2008. Professions like architecture, engineering and design are not immune to the effects of the tightening pool of workers. Not only is it more
Protecting Your Firm’s Most Valuable Asset: Its People Read More »
By Richard Hirschen, CPA, CGMAGray, Gray & Gray, LLP Every year architectural and engineering firms spend money – lots of money – trying to generate new business and new projects. Your firm’s investment in marketing can run the gamut from advertising and direct mail, to a website and public relations, to entering design competitions in
Accounting for Marketing Expenses in Overhead Rate Calculations Read More »
It is important for to keep your company’s name consistently in front of the public, particularly in a competitive business environment. It can be helpful to be innovative in your marketing and promotional techniques, but where do you draw the line? In a recent case, the Tax Court upheld more than $160,000 in deductions over
Tax Court Revs Up Deductions for Promotional Expenses Read More »
Unlike business people in most other walks of life, contractors and construction workers typically work at several sites during the year, while maintaining a home base. If you work in the industry, you are frequently out in the field or taking meetings with customers, incurring substantial travel and entertainment (T&E) expenses. Of course, qualified T&E expenses are