Our Blog

Samantha Binning  • 

On October 4, 2023, Massachusetts signed House Bill 4104 which includes significant corporate excise and personal income tax legislation. This bill includes changes to the apportionment formula, short-term capital gains rate, estate tax exemption, and more. You may be wondering what this means for your Massachusetts taxes so let’s break it down. 

Anthony McVeigh  • 

A common struggle many face is knowing when they should capitalize a cost or expense it. I am here to help! The rule of thumb for determining what should be capitalized is how long the item will be useful to you. If the item is expected to provide short-term benefits (less than a year) such as inventory, then it must be expensed in the period incurred. You capitalize an item when you expect it to provide you with long term benefits (greater than one year). In this case you capitalize and depreciate or amortize over the useful life of the asset.

Eric Kipperman  • 

​New for tax year 2024, there is an opportunity to roll over funds from a 529 plan to a qualified Roth IRA account. At this point, you may be scratching your head, wondering, ‘What is a 529 plan?’ Don’t worry, you are not alone. We are here to break it down for you. 

Anthony McVeigh  • 
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Recently, the Supreme Court ruled that the government is unable to cancel student loan debt. This is disappointing to many Americans, however, there are other plans in the works to provide loan debt relief to students. Read on to learn more about what is currently in the works as a result of this decision.
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Anthony McVeigh  • 
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The State of New Hampshire has enacted legislation accelerating the repeal of the Interest and Dividends Tax to January 1, 2025. 
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