Articles

If your company offers its employees Health Reimbursement Arrangements (HRA), reimbursed group health plans, or health Flexible Spending Arrangements (FSA), you’ll need to pay careful attention to how these benefits will be treated under the Affordable Health Care Act. Recently the U.S. Department of Labor issued Technical Release 2013-03 to provide guidance on the application of certain […]

By Michael D. Koppel, CPA, MBA, MSA, PFS, CITP, Tax Advisor Gray, Gray & Gray, LLPAugust 2013 For a number of years, most state tax authorities have “piggybacked” on federal tax laws when it comes to estate and gift tax. It was often easier for the state and less complex for the taxpayer to duplicate

By Michael D. Koppel, CPA, MBA, MSA, PFS, CITPGray, Gray & Gray, LLPAugust 2013 The Patient Protection and Affordable Care Act (PPACA), more commonly called “Obamacare,” requires large employers to provide qualified health insurance for their full-time employees. Among other rules, the health insurance which is provided must be affordable for the employee. “Large” employers

Nothing sends a chill up the spine like the words “IRS audit.” That’s why every year we hear from clients who want to know what the odds are that they will be audited. The IRS uses a variety of criteria to decide which returns will receive further scrutiny. Among the most common “red flag” is

Using financial statements to better manage your architectural practiceBy Richard Hirschen, CPAGray, Gray & Gray, LLP There are many ways to measure success in an architectural or engineering practice. Winning important and highly visible projects. Generating a steady flow of RFPs. Working on interesting and exciting designs. Being honored with awards and accolades. But none

By Michael D. Koppel, CPA, MBA, MSA, PFS, CITPGray, Gray & Gray, LLPJune 2013 “The most powerful force in the universe is compound interest.” – Albert EinsteinEvery day we see another statistic that indicates most people have not saved enough to retire comfortably. Many people have simply not paid enough attention to retirement saving and planning until

By Michael D. Koppel, CPA, MBA, MSA, PFS, CITPGray, Gray & Gray, LLPMay 2013 Many insurance companies were originally formed as mutual insurance companies.  Instead of issuing stock the company was, in effect, owned by its policyholders – the people and entities that purchased policies.In the past 15 or so years, approximately 35 insurance companies

Do you use a third party payroll management service? If so, it is critically important to keep your finger on the pulse of your payroll processing and employment taxes. Outsourcing payroll does not mean your company is immune from IRS scrutiny when it comes to unpaid employment taxes. Relying on an outside payroll firm to

Gray, Gray & Gray presents the following “Employee Retirement Income Security Act (ERISA)/Employee Benefits Legal Compliance Checklist,” courtesy of The Wagner Law Group. 1. Welfare Benefit Plans Do you have an ERISA-compliant welfare benefit or wrap plan document? Do you have an ERISA-compliant summary plan description? To the extent that the plans are self-insured, are

By Michael D. Koppel, CPA, MSA, PFS, CITPGray, Gray & Gray, LLPMarch 2013 If your company hires independent contractors in any capacity, be prepared to prove their independence, or you may face fines, penalties and back taxes. Ouch! The Internal Revenue Service (IRS) and Department of Labor have announced plans to aggressively crack down on