Accounting and Tax Blog

The dollar amount that triggers a 1099 filing had not moved since the 1950s. That changed under the One Big Beautiful Bill Act, and the new thresholds apply for the first time to payments made in 2026. If your business pays contractors, vendors, or uses a ... Read More →

You have decided to apply for a loan or a line of credit, and your bank has handed you a list of requirements. Reviewed financial statements. Two years of tax returns. Accounts receivable aging. A personal financial statement. If this is your first time going through ... Read More →

Buying the building your business operates from feels like a straightforward decision. You are tired of paying rent to someone else, and you want the equity to build for your own company instead of a landlord. But the tax picture changes the moment you own the ... Read More →

The One Big Beautiful Bill Act, known as the OBBBA, made 100 percent bonus depreciation permanent for qualifying property placed in service after January 19, 2025. For Massachusetts business owners who held off on equipment purchases while waiting to see where the deduction would land, the ... Read More →

Trump Accounts: A New Tax-Favored Savings Vehicle for Children Families, employers, and philanthropically minded donors may soon have a new way to help children build long-term savings: the Trump Account. Created under IRC §530A, a Trump Account is generally structured like a traditional IRA, but with ... Read More →

The S-Corp versus LLC question comes up constantly for Massachusetts business owners. Most people pick one when they start their business and never revisit it. That is often where the problem begins. The choice of entity structure has real tax consequences, and those consequences change as ... Read More →

Most business owners think of bookkeeping as a necessary chore. Something that has to get done so taxes can be filed. That framing undersells what current, accurate books actually make possible. When your financials are clean and up to date every month, your CPA can do ... Read More →

If your bank has asked for reviewed financials or an audited statement and you are not sure what that means, you are not alone. These are three distinct levels of CPA-prepared financial statements, and the differences matter more than most business owners realize before they walk ... Read More →

Most Massachusetts business owners file a tax return every year. A smaller number have a tax plan. These are not the same thing, and the gap between them is often where real money gets left on the table. If your CPA only shows up around tax ... Read More →

Something has been shifting among small manufacturers along the North Shore of Massachusetts. Owners who have worked with the same CPA firm for years are starting to ask whether they are getting the level of service and expertise their business actually needs. For some, the answer ... Read More →