Tax Holiday Guidance Issued by Massachusetts Department of Revenue
The Massachusetts legislature has authorized a Sales Tax holiday for the weekend of August 10-11, 2013 for items costing less than $2,500. The Massachusetts Department of Revenue (MDOR) recently issued guidance to consumers and retailers, some of the highlights are as follows: Sales tax will continue to apply to the full price of any item […]
Tax Implications from The US Supreme Court DOMA Ruling
On June 26, 2013 the Supreme Court held in United States v. Windsor that Section 3 of the federal Defense of Marriage Act (“DOMA”) is unconstitutional. As a result the federal government will now recognize marriages between same sex couples that are valid under state law. Section 3 of DOMA provided that only persons of […]
New Excise Tax on Medical Reimbursement Plans due July 31, 2013
As part of the new Affordable Care Act, employers who provide a self-insured health plan (commonly referred to as medical reimbursement plans or health reimbursement arrangements) are potentially subject to a new excise tax in 2013. The tax is assessed based on the number of lives participating in the plan for the prior plan year. […]
New Excise Tax on Medical Reimbursement Plans due July 31, 2013
As part of the new Affordable Care Act, employers who provide a self-insured health plan (commonly referred to as medical reimbursement plans or health reimbursement arrangements) are potentially subject to a new excise tax in 2013. The tax is assessed based on the number of lives participating in the plan for the prior plan year. […]
Computer and Software Services Now Subject to Sales and Use Tax
On August 1, 2013, the Massachusetts Department of Revenue published a list of Frequently Asked Questions relating to the new tax. Click here for additional information. The Massachusetts legislature, as part of the new fiscal year, passed a transportation funding bill that newly subjects Computer and Software services to sales and use tax. The time […]
Matthew Boyle, MBA, Joins AAF as Chief Marketing Officer
Alexander, Aronson, Finning, CPA’s, one of the 10 largest public accounting firms in Massachusetts, has announced the hiring of its first Chief Marketing Officer, Matthew Boyle, who arrived at the firm on May 28. Boyle, who has worked in marketing and sales for three Fortune 500 companies – Steelcase, Compuware, and Dun & Bradstreet – […]
Key questions about the health care act’s employer coverage penalties
The deadline is looming. In roughly six months, employers will be subject to the “play or pay” provisions of the Patient Protection and Affordable Care Act of 2010. Not every company will face a penalty for not providing health care coverage or for not providing sufficient coverage. But taking a wait-and-see approach is highly unadvisable. […]
Gifting: It’s no hobby
Giving away a substantial sum or valuable asset to a beloved heir may be fulfilling, even fun. But it shouldn’t be just a hobby; it’s serious business. Everyone who’s built up some wealth needs a well-thought-out gifting strategy — both for estate planning purposes and for minimizing the taxes they and their loved ones could […]
Risk Management Essentials – SWOT analyses can still help your business
Among the best ways to guard against risks is to know your strengths. Of course, it also helps to know your weaknesses, watch out for threats and target opportunities for growth. For these reasons, the SWOT analysis — the acronym for “strengths, weaknesses, opportunities and threats” — is a long-standing risk management essential. From where […]