The tax-exempt status of a 501(c)(3) organization is its lifeblood. Without it, most not-for-profits couldn’t obtain the financial and other support they need to fulfill their mission. That’s why you need to protect your exempt status at all costs. 6 Violations Following is a brief overview of six common ways nonprofits’ tax-exempt status can be jeopardized […]
Don’t Jeopardize Your Nonprofit’s Tax-Exempt Status Read More »
Some taxpayers who have been playing “catch up” on their retirement savings after age 50 will soon be losing one of the tax breaks they have enjoyed. Starting January 1, 2024, any catch up 401(k) contribution made by a taxpayer earning $145,000 or more during the previous year must be made – after taxes –
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By Martin E. PrendergastGray, Gray & Gray, LLP Since the availability of immediate R&D expensing was eviscerated by the Tax Cuts and Jobs Act (TCJA) of 2017, business advocates and many members of Congress have been actively seeking to reverse the changes. The new rules requiring R&D spending to be amortized over five years (15
R&D Tax Treatments Still in Limbo Read More »
Gray, Gray & Gray was proud to be a part of Propane Ninja’s growth journey, as Mike Dodd, CEO and Peter Samuelson, COO, expand their business to include bulk propane. Our success story with Propane Ninja is a great example of how we utilize a consultative approach in order to best serve our clients. Thank
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By Nathaniel C. Gravel, CISA, CISM, CRISC Securing cloud-based data must be a top priority for organizations that increasingly rely on cloud services for their daily operations. The rapid growth of cloud computing and the vast amount of sensitive information stored in these environments make it crucial to implement robust security measures to protect your
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The movement to restore full expensing of R&D costs in the year the expenses are incurred, instead of amortizing them over 5 years, is gaining momentum in Congress. A bi-partisan bill had previously been filed in the U.S. Senate to return full expensing of R&D Costs (S. 866). That effort has now been joined by
R&D Tax Expense Restoration Moves Forward in Congress Read More »
Following the passage of the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) and its successor, SECURE 2.0, several changes were made in the requirements for filing IRS Form 5500 or the simpler Form 5500-SF (Short Form Annual Return/Report of Small Employee Benefit Plan). One of the changes is an adjustment
Changes in Form 5500 May Benefit Small Business Benefit Plans Read More »
Do you enjoy filling your day by manually entering bills into your accounting system? Are you OK with spending more time than necessary on invoice management? Or would you rather be doing something more productive with your time? Very few people get a kick out of the tedium of manual bill entry. Invoice management is
If You Love Processing Invoices, Don’t Read This Article! Read More »
By Bill Constantopoulos Information is the lifeblood of any successful organization. But too much of a good thing can negatively impact performance. “Information overload” is a challenge for organizations and those tasked with managing them. Some have even compared the flow of data to “drinking from a fire hose.” Too much data, crammed into too little
Drinking from a Fire Hose: Controlling the Flow of Information in Your Business Read More »
By Bill Constantopoulos If we learned anything from the past few years of pandemic-induced disruption it is this: People can work efficiently and effectively from virtually anywhere. Even the bourgeoning return-to-the-office movement has adapted hybrid work weeks that blend in-person attendance with remote work. But the dispersal of workers poses a challenge to managers who
Using Technology to Manage Financial Operations in a Dispersed Organization Read More »