Governor Charlie Baker Announces Massachusetts COVID-19 Relief Fund

On April 6, 2020 Massachusetts Governor Charlie Baker and First Lady Lauren Baker announced the establishment of a COVID-19 Relief Fund to assist Massachusetts residents who have been most impacted by the Coronavirus pandemic.

Is Your Business Ready to Comply with the New Massachusetts Paid Family and Medical Leave Act?

As you may be aware, 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.

Section 199A - How the Qualified Business Income Deduction Might Impact Your Taxes This Year

Have you heard the terms “Section 199A” or “QBI Deduction” this tax season and wondered what they meant, or whether they will impact your taxes? You’re not alone.

The Tax Cuts and Jobs Act (TCJA) created a new tax deduction for business owners and others, called the Section 199A Qualified Business Income (QBI) Deduction. Since its release, there has been much confusion about the rules of this deduction, even in the tax world. In August, the IRS and the Department of the Treasury released some additional guidance, and in October, held a public hearing to field comments and questions.

On January 18, 2019, The IRS and the Treasury issued final regulations to clarify and update the proposed rules. Here’s a high-level overview:

Top Tax Reform Impacts for Tech Companies

The Tax Cuts and Jobs Act (TCJA) is the most comprehensive tax reform our country has seen in more than 3 decades, bringing broad and complex changes to businesses in every industry.

With more and more technology firms calling the Boston area home, I thought it might be helpful to discuss some of the implications of the TCJA specific to the tech world.

What Business Owners Should Know about Changing Tax Laws

You've likely heard about the U.S. Supreme Court's decision in the South Dakota vs. Wayfair, Inc. case, and its impacts on the e-commerce industry, consumers, and state and local governments. The June 2018 ruling overturned decades of precedent when it comes to the taxation of revenue from out-of-state sales, allowing states to collect tax where they previously could not. 

But did you know that the ruling will also impact buyers and sellers of businesses?

2018 Tax Planning: 5 Impacts of TCJA for Individuals and Businesses

Tax planning is always a good idea, but this year it is especially critical. With the Tax Cuts and Jobs Act (TCJA) making sweeping changes that impact virtually every taxpayer, and looming additional legislative action following the mid-term elections, new strategies should be considered to maximize your tax savings.

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: