By Bill ConstantopoulosGray, Gray & Gray, LLP As your construction business grows and evolves, your needs change. This holds particularly true for financial management systems. If your business started small, you may have initially chosen a software solution appropriate for startups and small businesses. But over time, as your business operations have expanded, you may […]
Right Sizing Your Financial Management Software Read More »
By Nathaniel C. Gravel, CISA, CISM, CRISC In today’s digital landscape, cybersecurity is not just an IT issue but a significant business risk. With cyber threats growing more sophisticated, businesses are increasingly turning to cyber insurance as a way to mitigate the financial impacts of cyberattacks and data breaches. However, obtaining cyber insurance isn’t as
12 Policies & Practices You May Need to Adopt to Be Eligible for Cyber Insurance Read More »
Canton, MA (August 15, 2023): Gray, Gray & Gray, LLP, a business consulting and accounting firm based in Canton, MA, has announced the promotion of 12 team members to new positions: Abigail Cox, MBA has been promoted to Senior Staff Accountant in the Audit & Assurance Department. She is a graduate of the University of
Gray, Gray, & Gray Promotes 12 Team Members Read More »
Do you have an idea for a new venture with social benefits or environmental applications? You can set up as a for-profit entity — such as a C corporation, S corporation or limited liability company — with charitable functions. Or, if your key objectives are more altruistic, you may want to consider an alternative: forming a
Got a “Business” Idea? You Might Want to Form a Nonprofit Read More »
The term “501(c)(3) organization” — which refers to the Internal Revenue Code section governing not-for-profit entities — often is used interchangeably with “public charity.” But not all 501(c)(3) organizations are public charities. Some are private foundations, and they’re subject to different tax rules. Individual and Family Charity A private foundation is a 501(c)(3) organization created by
Ins and Outs of Private Foundations Read More »
Canton, MA (July 27, 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 154th largest accounting firm in the U.S. and
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 –
Retirement Tax Break Going Away Read More »
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 »
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
Baseline Security Measures for Cloud Environments Read More »