Insights/News

Nov 25 2024

Governor Healey Signs $4 Billion Economic Development Bill into Law: A Win for Nonprofits

2024-12-02T15:12:07-05:00November 25, 2024|

On November 20th, Governor Healey signed a transformative $4 billion economic development bill into law. Among its many provisions, the bill includes significant updates to the financial statement threshold reporting requirements of nonprofit organizations. Thanks to advocacy efforts led by MassCPAs and the Massachusetts Nonprofit Network, the bill introduces [...]

Nov 25 2024

IMPORTANT: BOI Filing Reminder

2024-11-25T10:30:16-05:00November 25, 2024|

As 2024 quickly comes to a close, we want to ensure all our clients are prepared for a successful 2025. The BOI reporting requirement, effective January 1, 2024, is part of the Corporate Transparency Act (CTA) of 2021. This law mandates that most small businesses report their ownership information [...]

Nov 21 2024

Understanding ASC 805: Essential Insights for Business Combinations

2024-11-21T13:08:34-05:00November 21, 2024|

Mergers and acquisitions (M&A) can be transformative, offering companies opportunities to expand strategically, align with complementary businesses, and increase market share. However, with the potential rewards come significant risks and complexities, particularly regarding accounting practices. The Financial Accounting Standards Board (FASB) created Accounting Standards Codification Topic 805 (ASC 805) [...]

Nov 15 2024

Making Home Improvements? You May Qualify for a Substantial Tax Credit

2024-11-15T11:51:50-05:00November 15, 2024|

The Internal Revenue Code Section 25C credit, also known as the Energy Efficient Home Improvement Credit, is a valuable tax incentive for homeowners who make qualifying energy-saving improvements to their existing homes. This credit has undergone several modifications since its inception in 2006, with significant changes introduced by the [...]

Nov 1 2024

Financial and Tax Preparedness for Natural Disasters: A Strategic Guide for SMBs and Individuals

2024-11-01T11:21:05-04:00November 1, 2024|

Natural disasters can strike with little warning, leaving a lasting impact on both personal and business finances. Whether it's a hurricane, wildfire, or flood, the financial toll can be substantial. However, by taking a proactive approach, small and medium-sized businesses (SMBs) and individuals can minimize disruptions and recover more [...]

Oct 3 2024

New Corporate Transparency Act (CTA) Reporting Requirements

2024-10-03T15:57:12-04:00October 3, 2024|

We would like to remind you of the new Corporate Transparency Act (CTA) reporting requirements that your company (ies) may be required to file by January 1, 2025. Corporate Transparency Act (CTA) Please be advised that your entity may have a filing obligation with the Federal Government. You may [...]

Go to Top