Revenue generated by 501(c)(3) organizations is generally exempt from federal income tax. But in some cases, your not-for-profit may incur unrelated business income tax (UBIT) on revenue. The good news is your annual tax return may offer some relief in the form of deductions. The list isn’t as long as the “ordinary and necessary business expenses” […]
6 Common Tax Deductions for Nonprofits Read More »
Canton, MA (August 4, 2022): Gray, Gray, & Gray, LLP (www.gggllp.com), a certified public accounting and business advisory firm in Canton, MA, has been named one of the country’s Top 200 accounting firms by INSIDE Public Accounting magazine. The publication ranked Gray, Gray & Gray as the 148th largest accounting firm in the U.S. (up 17
Canton, MA (July 11, 2022): Gray, Gray & Gray, LLP, a business consulting and accounting firm based in Canton, MA, has announced the promotion of eleven team members to new positions in the firm’s Audit & Assurance and Tax departments, and Transaction Advisory Services practice: Richard Frizzell, CPA, MSA has been promoted to Director in
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Canton, MA (June 30, 2022): Gray, Gray & Gray, LLP, a consulting, accounting and business advisory firm based in Canton, MA, has announced the winners of the 2022 Gray, Gray & Gray, LLP Scholarships. The firm has awarded a $2,000 scholarship to four local 2022 high school graduates who will be attending a four-year accredited college
Gray, Gray & Gray Awards College Scholarship to Local High School Students Read More »
This webinar hosted by Gray, Gray & Gray’s Hank Wolfson and cybersecurity expert Nathaniel Gravel, provided a vital look at the cyber threats aimed at businesses, the most important actions to take to protect yourself, and an understanding of how current global affairs have spiked the risk of cyberattack for American companies. Here are just some
By Nathaniel C. Gravel, CISA, CISM, CRISC I spend my working hours doing all that I can to help clients avoid becoming a cyberattack victim. Layered defenses, penetration testing, constant monitoring, employee training, multi-factor authentication, “red team” simulated phishing – we use all the tools in our bag to identify and deter “bad actors” from
Planning Your Response to a Cyberattack Read More »
By Nathaniel C. Gravel, CISA, CISM, CRISC Forget ransomware. The latest cybersecurity threat could compromise the integrity of construction materials, creating the danger of structural collapse. According to an article on the Cybersecurity Dive website, online programs and automated systems used to control the manufacture and testing of construction materials have become targets for cyberattack.
Cyber Attacks Could Pose Threat to Materials Integrity Read More »
The Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants (AICPA) changed the audit standards applicable to audits of financial statements of employee benefit plans subject to ERISA. These standards impact what is currently known as “limited scope audits.” Now, the limited scope audit will no longer be an option, but will
Big Changes to “Limited Scope” Audits Read More »
Canton, MA (April 11, 2022): Gray, Gray & Gray, LLP, a consulting and accounting firm serving the fuel oil and propane industry, has opened its 2022 annual Energy Industry and Propane Surveys. This is the firm’s 31st consecutive year of conducting its industry-leading survey of the nation’s energy marketers, and the 6th year for their
Gray, Gray & Gray Launches 2022 Energy Industry Survey Read More »
Traditionally, 403(b) plans have been the qualified retirement plan of choice for not-for-profits. These plans were established for the exclusive benefit of tax-exempt organizations. However, nonprofits now have other options as well. Even if you continue to prefer a 403(b) plan, as many nonprofits still do, it pays to review and weigh the benefits of other
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