Canton, MA (April 1, 2019): Gray, Gray & Gray, LLP of Canton, MA, has been ranked as the ninth largest accounting firm in New England by Accounting Today, the accounting industry’s leading publication. The annual rankings are based on firm revenues. Gray, Gray & Gray is the fourth largest Massachusetts-based firm. “We are pleased to […]
Gray, Gray, & Gray Ranked Among Top New England Accounting Firms 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 »
The Bipartisan Budget Act of 2015 (BBA) included a provision which created new partnership audit rules. It is important to recognize that partnerships (including LLCs taxed as a partnership) will be subject to these new rules for years beginning on or after January 1, 2018. The reason Congress passed the new rules are pretty simple:
New IRS Partnership Audit Rules Read More »
Canton, MA (August 16, 2018): James Donellon, CPA, MSA, has been elected a partner at Gray, Gray & Gray, LLP, a certified public accounting and advisory firm based in Canton, MA. The announcement was made by James DeLeo, Leading Partner of the firm. Donellon joined Gray, Gray & Gray in 2006, and most recently served
James Donellon Elected Partner at Gray, Gray & Gray CPAs Read More »
The deadline to implement major changes in the way leases are treated for accounting purposes may appear to be well in the future: late 2019 for publicly traded companies, and January 1, 2020 for privately held companies and non-profits. But accounting professionals are discovering that the work necessary to make the transition is significantly more
Changes to Lease Accounting Proving to Be More Complex Than Anticipated Read More »
Many people panic at the thought of interacting with the Internal Revenue Service (IRS). The thought of an audit or review of tax returns can be worrisome. But there is no need to go to pieces. If you have an encounter with the IRS – such as an audit or letter of inquiry – the
Your Rights as a Taxpayer Read More »
While Houston and the surrounding region struggles to emerge from the devastation of Hurricane Harvey, a new threat is emerging – fake charity scams. While we all want to help support the recovery effort in Houston, the Internal Revenue Service has issued a warning about scammers trying to take advantage of the generosity of helpful
After the Storm, the Scams. Read More »