December 11, 2025 By Newburg | CPA Staff This updated brief reflects the latest IRS guidance and legislative changes affecting information returns for tax years 2025 and 2026, including the One Big Beautiful Bill Act (OBBBA). Form 1099-NEC — Non-employee Compensation Form 1099-NEC is used to report payments of [...]
November 25, 2025 By David R. Natan, CPA, MST, CVA The Research and Development (R&D) tax credit remains a vital component of U.S. tax policy, designed to promote innovation and technological advancement. This dollar-for-dollar federal tax credit, often supplemented by state benefits, supports companies engaging in qualified research activities. Businesses [...]
November 20, 2025 Starting January 1, 2026, the Massachusetts Department of Family and Medical Leave (DFML) will implement new rules impacting tax treatment of PFML benefits and employer responsibilities. Key Changes: Medical Leave Benefits paid under the state-administered PFML program are now considered taxable wages for federal purposes as [...]
By David R. Natan, CPA, MST, CVA | October 8, 2025 When you're considering buying a business, the financials play a pivotal role in helping you determine whether the investment is worthwhile. Understanding key financial ratios will not only help you assess the potential of the business but also enable [...]
Starting September 30, 2025, the IRS and other federal agencies will no longer accept or issue paper checks. This change is part of a government-wide modernization initiative aimed at improving security, reducing costs, and streamlining financial operations. The AICPA has been actively trying to delay the implementation of this [...]
As tax season ramps up, accountants and business owners alike are navigating a flood of transactions. Between reconciling books, preparing financial statements, and ensuring compliance with IRS guidelines, manually categorizing every bank feed entry in QuickBooks® Online (QBO) can be a time-consuming burden. That’s where Rules come in. QuickBooks® [...]
The heating, ventilation, and air conditioning (HVAC) industry is a lucrative and essential sector, making HVAC businesses attractive for buyers and sellers alike. Whether you are considering purchasing an HVAC company or preparing to sell one, conducting thorough financial due diligence is crucial to ensuring a successful transaction. Here [...]
As a reminder, 2025 3rd quarter estimates are due September 15th, 2025. Your 2025 quarterly estimated coupons and instructions would have been included with your completed 2024 tax return, if applicable. The 3rd quarter estimate payments can be made online or mailed via check and should be postmarked no [...]
The Massachusetts Department of Revenue (DOR) has finalized regulation 830 CMR 62B.2.4, which establishes new rules for withholding on the sale of Massachusetts real estate by non-resident taxpayers. These rules will take effect for closings on or after November 1, 2025 and apply to transactions with a gross sales [...]
If you’ve been considering starting a retirement plan for your employees, the timing has never been better. Thanks to SECURE Act 2.0, small and mid-sized businesses can now take advantage of substantial tax incentives that dramatically lower the cost of launching and maintaining a 401(k) or similar retirement plan. At Newburg CPA, [...]
