Two Tax Credits Every Business Owner Should Know About

Is your business taking advantage of all of the tax credits available to you? There are tax credits available at both the federal and state level that are designed to reward employers who hire certain types of employees—for example, workers who, for reasons that are unrelated to their skill set or qualifications, have a hard time gaining employment. By hiring these workers, you are supporting the economy, and you can be rewarded for it!

Massachusetts Establishes Paid Family and Medical Leave

On June 28, 2018, Governor Charlie Baker signed a landmark bill requiring all employers in the state of Massachusetts to provide workers with paid family and medical leave—giving Massachusetts one of the most generous paid family and medical leave programs in the country. The bill will also raise the minimum wage, phase out time-and-a-half pay, and institute an annual sales tax holiday for the state.

FAQ: Massachusetts Millionaire's Tax

You may have heard that lawmakers recently voted to push forward a proposed "Millionaire's Tax" in the state of Massachusetts. Wondering what this means, and when it could possibly impact Massachusetts residents?

To shed some light on the topic, I've put together a list of frequently asked questions and answers:

10 Things to Know about Trump's Proposed Tax Plan

President Trump recently unveiled the "2017 Tax Reform for Economic Growth and American Jobs", which calls for tax cuts and simplification for both individuals and businesses. Currently, the plan contains broad principles, with specific details to be determined in the coming weeks.

While we wait for the details to be finalized, I've summarized the major changes outlined in the current proposed plan. Here are the top 10 things you should know:

Contractors' Top 5 Questions About the New FASB Lease Standard

After several years of proposals and deliberations, the Financial Accounting Standards Board (FASB) has issued its new accounting standard - a long-awaited regulatory update that will change the way that leases are reported on company balance sheets.

For contractors, operating leases - including real estate, vehicles, equipment, and other assets - are an integral part of everyday operations. In my recent article in Professional Contractor Magazine, I discussed the impacts of this new regulation on the construction industry. Below, I've answered the top 5 questions I've been asked by contractors about this new regulation.

New Employer Reporting Deadlines and 4 Tips for Compliance

Tax season is quickly approaching, and business owners will need to get organized a little earlier this year. Recent legislative actions, made an in effort to cut down on both tax fraud and identity theft, have changed the upcoming W-2 and 1099-MISC filing deadlines.