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Gray, Gray & Gray Sponsors Smart Business Dealmakers Boston Conference

Events, Featured Events, Merger & Acquisition Services, News, News & Events, Press Releases / By

Canton, MA (December 1, 2021):  Gray, Gray & Gray, LLP (www.gggllp.com), a consulting, business advisory, and certified public accounting firm based in Canton, MA, is a co-sponsor of the January Smart Business Dealmakers Boston Conference, a virtual event to be held on January 20, 2022. The Conference connects thousands of local dealmakers, from middle-market CEOs to […]

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Why Every Non Profit Needs a WISP

Articles, Cybersecurity, Featured Events, General, News, News & Events, Non-Profit / By

By Bobby Garrett Director of IT & Cybersecurity Gray, Gray & Gray, LLP Did you know the first recorded ransomware cyber attack was targeted at a non-profit organization? In 1989, over 20,000 attendees of a World Health Organization (WHO) symposium on AIDS research received a complimentary floppy disc containing a file supposedly related to the

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IRS Clarifies Rules on Excess Compensation Tax

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The Tax Cuts and Jobs Act is an often-overlooked crackdown on seven-figure compensation amounts paid to the highest earners. Essentially, beginning in 2018, your not-for-profit organization could be charged a hefty excise tax if it pays more than $1 million to certain “covered” employees. The IRS issued final regulations in early 2021 that generally mirror

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Retirement Contribution Caps Raised

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The amount an individual can contribute to a qualified retirement plan in 2022 has been raised to $20,500, up from a limit of $19,500 imposed in 2019 and 2020. The new cap applies to 401(k), 403(b), most 457 plans, and the federal Thrift Savings Plan. However, if a taxpayer or their spouse is covered by

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Articles

Use an Exit Agreement to Bid Farewell to Nonprofit Executives

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How does a not-for-profit say “goodbye” to a departing founder or executive? A gift and farewell party usually are appropriate. Though not as much fun to plan, an exit agreement may also be called for. This legal document, usually developed by a nonprofit’s board of directors, details the terms of a leader’s departure. Here’s why exit

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Articles

Employee Retention Credits Eliminated

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One of the provisions of the recently passed Infrastructure Investments and Jobs Act is the elimination of the Employee Retention Credit (ERC) for Q4 2021. There is an exception for companies founded after February 15, 2020 (known as recovery start up businesses). The termination of the credit for the fourth quarter payrolls was anticipated based

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Infrastructure Act includes $7 Billion for Propane

Articles, Energy, Energy & Petroleum, Featured Events, News, News & Events / By

By Marty Kirshner, CPA, MSA Gray, Gray & Gray, LLP The recently enacted Infrastructure Investment and Jobs Act is good news for the propane industry, as it includes an estimated $7 billion in funding for propane-related initiatives and incentives. Funding for these provisions should become available in January 2022. What’s included? According to the National

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Articles

Danger! How Nonprofits Often Lose Their Tax-Exempt Status

Articles, Featured Events, General, News, News & Events, Non-Profit, Tax Strategy & Compliance, Tax Tips / By

With all the legal hoops involved, it can be difficult for a not-for-profit to secure its tax-exempt status. The last thing you want after gaining this critical designation is to lose it. In the current political climate, it may be easier than ever to forfeit your status. So if you lead a 501(c)(3) organization, be sure

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Factor in taxes if you’re relocating to another state in retirement

Articles, Featured Events, General, News, News & Events, State & Local Tax Services, Tax Strategy & Compliance, Tax Tips / By

Are you considering a move to another state when you retire? Perhaps you want to relocate to an area where your loved ones live or where the weather is more pleasant. But while you’re thinking about how many square feet you’ll need in a retirement home, don’t forget to factor in state and local taxes.

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Podcasts by Gray, Gray & Gray

Strategic Thinking Podcast: Bryan Pearce Interviews David Model of Triton Systems

Bryan Pearce, Events, Featured Events, News, News & Events, Podcasts, Podcasts - Strategic Business Planning, Strategic Business Planning / By

About the Episode: Host Bryan Pearce, Director of Strategic Business Planning at Gray, Gray & Gray, interviews David Model, CEO of Triton Systems in Chelmsford, MA. Triton Systems is continually focused on what’s next – the next invention, the next breakthrough, the next innovation that can unleash new possibilities in engineering, science and technology to

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