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Gray, Gray, & Gray Ranked Among Top New England Accounting Firms by Accounting Today

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Canton, MA (March 21, 2022):  Gray, Gray & Gray, LLP, a business consulting and accounting firm based in Canton, MA, has been ranked as the seventh largest independent accounting firm in New England by Accounting Today, the accounting industry’s foremost publication. Gray, Gray & Gray’s annual revenue of $26.9 million represents a rate of growth […]

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Gray, Gray & Gray and GraVoc Announce Cybersecurity Services Collaboration

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Canton, MA (March 22, 2022):  Gray, Gray & Gray, LLP, a consulting, business advisory and accounting firm based in Canton, MA, and GraVoc Associates, Inc., a Peabody-based technology consulting firm, have announced a collaborative venture to provide comprehensive cybersecurity services to organizations across all industry segments. The alliance between Gray, Gray & Gray and GraVoc

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Cybersecurity Risk Rises with Russian Attack

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While we should always be on guard against suspicious emails and unknown links, the Russian/Ukrainian conflict that is filling our news feeds has ratcheted up the threat. The U.S. Cybersecurity and Infrastructure Agency (CISA) has issued a warning of the heightened risk of Russian cyberattacks against U.S. targets in response to sanctions that have been imposed. CISA

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$75 Million in Mass. Small Business Grants Available

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The Commonwealth of Massachusetts is making $75 million in new funding available for grants to small businesses in the state that have been impacted by the ongoing COVID-19 pandemic. The grants will be administered through the Massachusetts Growth Capital Corporation (MGCC) and applications are open on the MGCC website through April 4, 2022. $50 million of the

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IRS to Offer Alternative to Facial Recognition

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After meeting resistance from citizens and Washington lawmakers, the Internal Revenue Service (IRS) scrapped its plan to require taxpayers to use facial recognition software to log on to their IRS accounts. While uploading a “selfie” to the ID.me third-party facial recognition platform remains an option, going forward the IRS will be using Login.gov to identify

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Big Support for Small and Medium-Size Businesses

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By Paul Gerry, Jr., CPA, PartnerGray, Gray & Gray Small and medium-size businesses (SMBs) face increasingly difficult challenges in keeping up with evolving technologies and the accelerating pace of doing business. With the complexities of running a business today it is nearly impossible for a business owner to “wear many hats” effectively. Unfortunately, the growing

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Gray, Gray, & Gray Ranked Among Top Massachusetts Accounting Firms by Boston Business Journal

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Canton, MA (February 11, 2022):  Gray, Gray & Gray, LLP, an accounting and business consulting firm based in Canton, MA, has been ranked as the 17th largest accounting firm in Massachusetts by the Boston Business Journal. The publication’s annual rankings are based on the size of the firm’s professional staff in the state and include

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Where Is Your Employee Retention Credit Refund?

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The Internal Revenue Service (IRS) has not hidden the fact that it is backlogged in processing millions of tax returns, including payroll tax returns. Among the reasons for the backup is an unexpectedly high volume of Employee Retention Credit (ERC) refund requests. This has left many businesses waiting longer than expected for their refund. As

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How Does the New Massachusetts Entity-Level Excise Tax Work?

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While the 2017 Federal Tax Cuts and Jobs Act lowered corporate tax rates and doubled the standard deduction, it also included a provision that limited annual itemized deductions for state and local taxes to $10,000. This cap on “SALT” deductions has prompted several states to introduce a “workaround” that allowed owners of pass-through businesses to offset

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IRS to Require Facial Recognition for Online Payment

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Starting this summer the Internal Revenue Service (IRS) taxpayers who go online to access their accounts or pay taxes will be required to submit to facial recognition as a security precaution. The IRS has contracted with a third-party facial recognition company called ID.me to provide the service. Enrollment with ID.me will require submission of a

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