Tax Strategy & Compliance

Individuals who find themselves short of cash due to the economic disruption of the COVID-19 pandemic may find relief in their retirement savings. The CARES Act (Coronavirus Aid, Relief, and Economic Security Act) includes a provision that eases restrictions on distributions from certain tax-qualified retirement plans, including 401(k), 403(b), tax-sheltered annuity plans, and IRAs. Prior […]

The U.S. Small Business Administration (SBA) has issued further guidance to clarify the loan forgiveness provision of the Paycheck Protection Program (PPP) part of the CARES Act. In particular, the new guidance addresses questions about the eligibility for forgiveness of owner compensation and specific non-payroll costs. In response to public questions about C- and S-Corporation

The economic impact of the COVID-19 crisis on Massachusetts is being seen in a $3 billion tax revenue shortfall for fiscal year 2020, as reported by the Department of Revenue. Yet that news came in conjunction with a report that July tax revenues were higher than expected, at $4.5 billion. Part of the July collections

While not exactly a “traditional” gift for a high school graduate, paying for the creation of an estate plan for a young adult can have long term benefits for both the grad and their family. If you have a child, grandchild or other relative who recently graduated or reached age 18, an estate plan is