Category: Blog

Massachusetts tax-free grants for small businesses impacted by COVID-19

The Commonwealth of Massachusetts has made grant funds of $50.8 million available to support small businesses that have been adversely impacted by COVID-19.  The application deadline is November 12th at noon. There are two aspects of the program.  The first is a Small Business Grant for companies with 5 or fewer employees. This grant provides up […]

Updates on your PPP loan

There have been a lot of changes since our initial blog on the PPP loan posted on April 2nd, so we wanted to give you a quick comparison of where we were originally vs. where we are now. In case you don’t recall, initially you were required to spend 75% of your loan proceeds on […]

Section 199A Safe Harbor Rules for Rental Properties

We have seen a growing number of clients invest in the real estate market. With the passing of the Tax Cuts and Jobs Act, some of these rental properties have been eligible to claim a 20% deduction based on their net profit. However, not all rental properties are eligible for this new tax deduction. For […]

Section 199A: How much do you know about the 20% deduction and do you qualify?

One of the largest changes of the Tax Cuts and Jobs Act is the Section 199A deduction. This new section allows taxpayers to deduct 20% of his or her Qualified Business Income (QBI) from passthrough entities. However, not all taxpayers will maximize their benefit or benefit at all from this new deduction, which is why […]