Thanks to the far-reaching Consolidated Appropriations Act passed in December 2020, small businesses that used funds from a first round Paycheck Protection Program (PPP) loan to pay eligible expenses were also granted the right to take a deduction on their 2020 tax return – even if the PPP loan was forgiven (or was expected to […]
2020 PPP Loan Expense Deductions Can Be Brought Forward Read More »
Canton, MA (April 20, 2021): Gray, Gray & Gray, LLP, a consulting and accounting firm serving the fuel oil and propane industry, has opened its 30th annual Energy Industry Survey. The survey is available online at https://www.gggllp.com/energy-survey-2021. The annual survey has become an acknowledged source for industry statistics and benchmarking data. This year’s energy survey will
Gray, Gray & Gray Launches 30th Annual Energy Industry Survey Read More »
A new piece of legislation filed in the U.S. Senate – the “For the 99.5 Percent” Act – could have a significant impact on gift and estate planning. According to the sponsors of the bill, its name describes the “99.5 percent” of the population who are unlikely to be affected by the proposed changes. It
Proposed Changes to Gift and Estate Tax Could Have Huge Impact Read More »
Financial relief is waiting in the wings for a wide range of performing arts venues and organizations across the U.S. that have been negatively impacted by the prolonged coronavirus shutdown. The Small Business Administration (SBA) will open applications for the Shuttered Venue Operators Grant (SVOG) program on April 8, 2021. Eligible grant recipients include live
Shuttered Performing Arts Venues Relief Program Begins April 8 Read More »
Canton, MA (March 11, 2021): Gray, Gray & Gray, LLP, a business consulting and accounting firm based in Canton, MA, has been ranked as the eighth largest independent 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’s annual revenues of
Gray, Gray, & Gray Ranked Among Top New England Accounting Firms by Accounting Today Read More »
Many businesses have had staff members working from home for a year. For most, the transition from office to home was rapid, and likely included many shortcuts and “temporary” adjustments. Remote working also presents an increased danger of cyberattacks from hackers and online criminals. Without the protection of a robust office firewall and secure network,
Cyber Security is a Must for Remote Workers Read More »
The original CARES Act in March 2020 provided much needed relief for small businesses in the form of Paycheck Protection Program (PPP) loans. But a lesser known component was the Employee Retention Tax Credit (ERTC), which allowed eligible employers – of any size – to earn a refundable tax credit against certain federal employment taxes.
Balancing a PPP Loan and Employee Retention Tax Credits Read More »
Canton, MA (February 15, 2021): Gray, Gray & Gray, LLP of Canton, MA, has been ranked as the 19th largest accounting firm in Massachusetts by the Boston Business Journal, up two places from the previous year’s rankings. The publication’s annual rankings are based on the size of the firm’s professional staff in the state and include
By Elvira Lawlor, CPA, MBA Gray, Gray & Gray, LLP The research and development (R&D) tax credit is one of the most powerful tools your architectural or engineering firm could use to ease your tax burden. In light of the global pandemic, with many businesses struggling to stay afloat, R&D could become a great boost
Are you taking advantage of CARES ACT opportunities for tax refunds? Read More »
By Joe Ciccarello, CPA, MST Partner February 4, 2021 If you have given any thought to selling your business and retiring, now might be a good time. And I mean right now. The shift in power in Washington is likely to result in significant changes to federal tax laws, including capital gains taxes. Corporate tax
Alert: Tax Changes May Affect Your Exit Timing Read More »