MA Small Business Accounting ERTC 2021

Last Call for Q1-2021 Employee Retention Tax Credit!

Have you experienced at least a 20% decline in revenue for Q1-2021 when compared with Q1-2019?  Or, is your business still subject to a government imposed limitation?  Do you need help to determine whether you qualify? If so, please contact us before March 31st to review ... Read More →
MA Small Business Accounting ERTC 2021

The most under-utilized COVID-19 relief opportunity for businesses

The most under-utilized COVID-19 relief opportunity for businesses...ERTC Employee Retention Tax CreditsHint: you probably qualifyIf you're looking for our ERTC Excel Calculator, see below for access link.Several COVID-19 relief programs have dominated the news, from the PPP to Economic Impact Payments to State grants, such as the ... Read More →
Manufacturing Employee Retention Second Draw PPP

Second Draw PPP Eligibility & Limitations

SECOND-DRAW PPP LOANS The Second Draw for PPP is now available.  We've outlined important information below to help you with this process. This post will guide you on determining: Your eligibility Promises & certifications necessary Your loan limits Documents you need to gather Which expenses are ... Read More →
Manufacturing Mass Sector Specific Relief Grant (SRG)

How to TAKE ACTION on the SRG – Sector-Specific Relief Grant Program

Sector-Specific Relief Grant Program GuidanceIn late December, Governor Baker announced the appropriation of an additional $668 million to provide targeted relief to Massachusetts businesses, especially those that have experienced the most significant economic hardship and loss of revenue due to the COVID-19 pandemic. Under the program, applications ... Read More →
Manufacturing Accounting Emergency Relief

UPDATE: COVID-19 Relief Bill Passes House and Senate

UPDATE: COVID-19 Relief Bill Passes House and Senate(This is an update to our previous notes on the bill, linked here)On Monday night, December 21, 2020, Congress passed by an overwhelming majority the Consolidated Appropriations Act, which includes approximately $900 billion of relief to individuals, hard hit ... Read More →
Bipartisan State and Local Support and Small Business Protection Act of 2020

Upcoming law affecting your business: The Bipartisan COVID-19 Emergency Relief Act of 2020

Background Info:After many weeks of negotiating, a group of bipartisan Senators delivered their best proposal for immediate COVID-19 emergency relief. The proposal includes two separate bills which together total $908 billion and would provide targeted relief to American families, workers, and small businesses in addition to ... Read More →
making expenditures that qualify for the Section 179 business property expensing

Our Top 5 Year-End Business Tax Planning Strategies for Manufacturers – 2020

2020 has been a tumultuous year for American manufacturers with some businesses just barely surviving while others have experienced a modest slowdown or limited growth. Despite the current environment, manufacturers should begin to consider the tax implications of events that have already occurred and/or events expected ... Read More →
Change for Tax Years Beginning before 2021 - CARES ACT for Manufacturing Small Businesses

Amended Return Opportunities as a Result of COVID-19 Business Tax Relief

The CARES Act included some potentially impactful RETROACTIVE business tax relief provisions that can create tax-saving opportunities for small businesses and specifically owners of manufacturing pass-through entities. Here are two: ... Read More →
18 SBIR Accounting Mistakes Every Government Contractor Needs to Know
/ SBIR Accounting

18 SBIR Accounting Mistakes Every Government Contractor Needs to Know

When it comes to SBIR accounting, there’s a lot of “theories and myths” that float around. Making government contractors feel okay about how their keeping up with their accounting even though it’s not Federal Acquisition Regulations (FAR) or DCAA compliant. After all what is compliant? The DCAA defines ... Read More →
Are You Ready for your SBIR Phase II Award?
/ SBIR Accounting

Are You Ready for your SBIR Phase II Award?

Graduating from Phase I to Phase II is a completely different experience. Indirect rates, annual rate reporting, continued quarterly reporting, and considering the closeout of your award is your new normal. Having an adequate accounting system is the cornerstone of making your experience on the financial compliance side ... Read More →