On September 30, 2021, the Massachusetts Legislature adopted an elective pass-through entity (PTE) excise tax in response to the $10,000 cap on the federal state and local tax (SALT) deduction added in the (federal) Tax Cuts and Jobs Act of 2017. This change may be advantageous to many… Read More »
You may have heard that Congress passed the Emergency Coronavirus Relief Act of 2020 (ECRA). This 5,465-page document is being presented to the President for signature. Assuming that it is signed, there are very significant changes to your business. PPP and small business support: New Covid -19 package… Read More »
To Lynch Marini & Associates Inc and the Peer Review Committee of the Massachusetts Society of CPAs: We have reviewed the system of quality control for the accounting and auditing practice of Lynch Marini & Associates, Inc. (the Firm) in effect for the year ended April 30, 2020.… Read More »
To Lynch, Malloy, Marini, LLP and the Peer Review Committee of the Massachusetts Society of CPAs: We have reviewed the system of quality control for the accounting and auditing practice of Lynch, Malloy, Marini, LLP (the Firm) in effect for the year ended April 30, 2017. Our peer… Read More »
In a unanimous vote, the U.S Senate passed the Paycheck Protection Program Flexibility Act of 2020. The legislation, which moved through the U.S. House of Representatives last week, creates more flexibility for borrowers and extends the time period for businesses to use the funds from eight weeks to… Read More »
Lynch Marini & Associates named Norwell Business of the Year. Norwell’s Business of the Year award strives to highlight those that go above and beyond that description. This year’s award goes to Lynch Marini & Associates. The certified public accountant firm has offices in Natick and at 99… Read More »
As most people know, 2018 had tremendous tax changes. Since January, our team has been conducting detailed analysis and discussing strategies, as to how business owners can best deal with the changes. For the Small Business Owner, the tax law has been changed in an attempt to provide the same… Read More »
The IRS issued additional guidance to a very significant deduction for flow through entities, small business and self-employed. The significant developments are: Contract or employee – Now more important than ever and we think this will be looked at if examined. Rental Activities – Should that get the… Read More »
Certain non-profits are required to undergo a review or an audit which results in formal financial statements. For the year ending December 31, 2018, the reporting requirements are changing. The presentation of Temporary Restrictions and Permanent Restrictions along with Board Designated will be different. New footnote disclosures are… Read More »
As you have heard, there have been significant tax law changes for 2018. We have been carefully studying the changes, and know that it will affect all of our clients. Here are some of our thoughts on the most significant changes: Your deductions will decrease – this is… Read More »