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Is Your Organization Subject to a Single Audit This Year?
Government funding has provided for-profit businesses and nonprofit organizations with a lifeline during the coronavirus pandemic. Those funds kept many doors open for business and
Are You Eligible for Maine’s Educational Opportunity Tax Credit?
Maine’s Educational Opportunity Tax Credit (EOTC) is an incentive program that may benefit Maine-resident taxpayers paying off student loans and working in the State of
Governor Mills Proposes Solution to Maine’s PPP Tax Conformity Issue
The Mills Administration proposed a compromise to lawmakers to solve the Maine’s issues with conformity to federal tax treatment of Paycheck Protection Program (PPP) funds.
Partnership Tax Capital Reporting Requirements & Penalty Relief for 2020
In a continued joint effort to streamline the Tax Capital Reporting Requirement for partnerships, The U.S. Treasury and IRS recently provided additional penalty relief for
The R&D Tax Credit: How Innovation Pays Off for Manufacturers
When business owners think of research and development, Big Pharma and large clinical laboratories may come to mind initially. However, R&D can likely be found
Forecasting in 2021: What’s in Store for Auto Dealerships?
Overall, the outlook for auto dealerships as we move into 2021 is cautiously optimistic. There’s a lot to be said for positive beacons signaling improvement
Massachusetts Enacts Elective Excise Tax for Pass-Through Entities
Massachusetts passed budget legislation that allows eligible pass-through entities, including S corporations, partnerships, and limited liability companies (LLCs), to pay an elective excise tax on
2021 Construction Industry Trends: Ownership Transfers & Management Succession Planning
Most business owners right now are sharply focused on steady cash flow, cutting costs, maintaining operations as close to the status quo as possible, and
Construction Accounting Basics: 6 Questions Contractors Need to Ask When Starting a New Construction Firm
Starting your own construction company without a financial strategy rooted in smart accounting basics is like starting a build without a floor plan. Many of
Massachusetts Law Addresses Unemployment Solvency & Emergency Sick Leave
Governor Charlie Baker signed legislation in May that modified the way Massachusetts handles COVID-19-related unemployment claims and the COVID-19 Temporary Emergency Paid Sick Leave Program.
Webinar: Like-Kind Exchanges (IRC 1031)
ARB Principal David V. Jean CPA, CCIFP, CExP, provides a detailed overview of like-kind exchanges. From discussing the “loophole” that allows taxpayers to defer and