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…
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…
IRS Releases Substantive Guidance on the Treatment of Research and Experimental Expenditures Under Section 174
On September 8, 2023, the IRS released pre-regulatory guidance concerning the requirement to capitalize and amortize specified research and experimental (SRE) expenditures under Internal Revenue Code Section 174, as revised by the 2017 Tax Cuts and Jobs Act (TCJA). Notice…
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,…
Easing The Pain of Research & Experimental (R&E) Expenditure Capitalization
The new Section 174 rules require taxpayers to capitalize and amortize R&E costs incurred in taxable years beginning on or after Jan. 1, 2022. Amortization is calculated using a straight‐line recovery period of either five years for costs incurred in…
Preparing for Healthcare’s Regulatory Environment Shift
Healthcare providers are approaching a major regulatory shift. On May 11, the Federal Public Health Emergency (PHE) for the COVID-19 pandemic will lapse, ending or sunsetting regulatory changes which greatly benefited providers during the pandemic. The end of the PHE,…
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…
The Future of Cryptocurrency
Written by: Leah Belanger, CPA, MSA and William Cooper, CPA Cryptocurrencies have been making their mark on financial services for over a decade. But the past year has seen incredible highs and lows, with the crypto market losing over $2…
Time to Make Your Business Year-End Tax Moves
With increasing costs due to inflation putting a strain on cash flow, lowering your tax liability is one way to help your business. While there are often many tax changes in any given year, 2022 has been slow in comparison. …