For many business owners, taxes often represent a hurdle to clear rather than a strategic asset to leverage. However, those who look beyond mere compliance can unlock the transformative power of tax planning as a key driver for sustainable business…
Writing Off Abandoned Project Costs for Real Estate: A Guide for Maximizing Deductions
Written by: Michael Cooper, CPA In the dynamic world of real estate development, not every project reaches completion. Changes in market conditions, regulatory landscapes, or project viability can lead to the difficult decision of abandoning a project. While such situations…
We May Never See a Better Environment for Transferring Wealth … Here’s Why
It may seem that there will always be time to address estate planning. However, a unique opportunity to maximize the amount of wealth that can be tax-efficiently passed to heirs will expire at the end of 2025. Furthermore, legislation could…
Begin Your Tax Planning Journey Here
Effective tax planning is essential in today’s business and personal financial landscape. As we quickly approach year-end, there is no time to waste. Businesses, individuals, and family offices should assess their 2023 and 2024 tax situations to uncover opportunities for…
Massachusetts Enacts Corporate and Individual Tax Changes
On October 4, 2023, Massachusetts Gov. Maura Healy signed H. 4104 to enact numerous business and individual tax changes. The more significant changes include adopting single-sales-factor apportionment for all corporate taxpayers, changing the sourcing of financial institution receipts from investment and trading,…
Costs and Benefits of the Inflation Reduction Act for Real Estate & Construction
The Inflation Reduction Act’s (IRA’s) expansion of key energy efficiency tax incentives – such as the 179D energy efficient commercial buildings deduction and the 45L new energy efficient home credit – is anticipated to have a significant impact on real estate and construction industry.…
7 Private Equity Predictions for 2023
After a record-smashing 2021, 2022 will be remembered as the year of diminished dealmaking. The upward trajectory that began in the fourth quarter of 2020 and sustained through 2021 did not continue last year: Deal-making started off strong in the…
Do You Know How to Navigate the New IRS Requirements for R&D Tax Credit Claims?
Written by: Jonathan Yorks, CPA While the new research and development tax credit requirements went into effect on January 10, 2022, which require more detailed proof that claims are valid, many businesses seeking the refund may face extra work when…
Massachusetts Millionaires Tax: Planning for High-Income Taxpayers
Written by: Jonathan Yorks, CPA When Massachusetts voters head to the polls this November, one hot button issue on ballots will be the so-called “Massachusetts Millionaire Tax.” This surtax on high-earning taxpayers in the state faces criticism from business leaders…