Samet manager, Joe Goldberg, and Meghan Albert married in Newport, RI on Saturday, September 13. All of us at Samet send heartfelt best wishes to the couple.
Is Cryptocurrency Right for Your Business?
By Samet CPA |
Are any of your employees clamoring to receive compensation — either immediate or deferred — in Bitcoin or another type cryptocurrency? What about customers that want to pay with crypto?...
Good News: IRS Boosts Standard Mileage Rates for Second Half of 2022
By Samet CPA |
The IRS recently announced it will be increasing the standard mileage rate for qualified business drivers for the second half of 2022. The adjustment reflects rising costs at the gas...
Your Children and Estate Planning
By Samet CPA |
If you have a sizable estate that you’ll be leaving to your adult children, then your children probably need an estate plan of their own. To encourage them to plan...
Do You Know the Tax Consequences of Selling Appreciated Land?
By Samet CPA |
Individual taxpayers who own appreciated vacant land should know the tax consequences before they sell or subdivide. Here’s critical federal tax guidance for these individuals. Important: For purposes of this...
Work or Pleasure: The Tax Rules for Hybrid Travel
By Samet CPA |
With business travel picking up again and summer fast approaching, many business owners may be mulling trips that combine work with vacation or other personal activities. A quick refresher on the...
Self-Insured Plans: Nondiscrimination Rules and COVID-19 Expenses
By Samet CPA |
Question: We’re changing our company’s group health (major medical) plan from fully insured to self-insured next year. Will our plan have to comply with nondiscrimination rules and, if so, what...
11 Sources of Tax-Free Income
By Samet CPA |
There are still ways to earn income that is free from federal income tax. With the various tax changes that have taken effect in recent years, tax-free income opportunities are...
How to Keep Your Business Strong Despite Inflationary Pressures
By Samet CPA |
Over the last year, consumer prices rose 7.9%, according to the latest data from the U.S. Bureau of Labor Statistics. The Consumer Price Index covers the prices of food, clothing,...
5 Categories of Interest Expense: What’s Deductible?
By Samet CPA |
People often ask: Is the interest paid during the year deductible on my federal income tax return? The answer is, “It depends.” Generally, the interest you incurred must be allocated...
Samet Team Finishes Strong in MassCPAs Virtual 5k Fundraiser
By Samet CPA |
MassCPAs held their second annual Educational Foundation 5k Walk/Run Fundraiser with proceeds that will help fund scholarships and CPA Exam vouchers. Of the 23 participants, Danny Waung took first place...
Squeeze More Out of a Company SEP
By Samet CPA |
If you want a retirement plan for your small company or self-employed business — but you don’t want to be buried in paperwork — consider a simplified employee pension plan...
Tips for Purchasing a New or Used Vehicle
By Samet CPA |
The limited supply of new and used vehicles, along with other economic factors, has driven up prices in the auto market. The average price of new cars increased by 13%...
March (15th) Madness Party at Samet
By Samet CPA |
On Tuesday evening, we celebrated the completion of the 3/15 deadline with a March (15th) Madness party! We enjoyed socializing in the office and introducing ourselves to the new hires....
In-Plan Annuities: A New Twist on the Traditional Pension Model
By Samet CPA |
It’s common for employees who are nearing retirement to be concerned with whether their savings will last through their senior years. Those worries are mounting today. With soaring inflation, rampant...
Unlock 8 Tax Breaks for Home Ownership
By Samet CPA |
Over the last year, home prices have soared in many parts of the country. In addition to benefitting from an appreciating asset, eligible homeowners enjoy several tax advantages. Here are eight...
Happy International Women’s Day!
By Samet CPA |
This International Women’s Day, we are celebrating the powerful women in all departments at Samet who consistently bring their strength and expertise to our firm. Today and every day, we...
How to Maximize the QBI Deduction Amid the Pandemic
By Samet CPA |
Since the qualified business income (QBI) deduction first become available in 2018, things have changed dramatically, mainly due to the various effects of the COVID-19 pandemic. Possible tax rate increases...
Dealing With an Inheritance
By Samet CPA |
After receiving an inheritance, you need to determine how to incorporate those assets, whether stocks, bonds, real estate, or some other asset, into your finances. Consider these points during that...
What Happens to Your 401(k) Account When You Switch Jobs?
By Samet CPA |
In today’s tight labor market, many people are exploring new job opportunities with better compensation packages and improved work-life benefits compared to what their current employers offer. Before you leave...
Samet Participates in MassCPAs Annual Fitness Challenge
By Samet CPA |
In an effort to promote a healthy lifestyle during busy season, Samet is participating in MassCPAs annual Fitness Challenge from February 1st through April 15th. This friendly competition is designed...
New Study Finds Rising Health Benefit Costs
By Samet CPA |
Consumer prices jumped 7% in 2021, according to the U.S. Department of Labor. Unfortunately, health benefit costs incurred by small employers increased at an even higher rate — 9.6% —...
Coping With New Employee Retention Credit Rules
By Samet CPA |
Sometimes, Uncle Sam seems to give with one hand and take with the other. Take the employee retention credit (ERC), for example. Congress created this tax break in 2020 to...
How Manufacturers Can Avoid Sales and Use Tax Problems
By Samet CPA |
The pandemic and global supply chain disruption have placed an unprecedented burden on manufacturers — and the need for automating manual processes is more pronounced than ever. One way manufacturing...
Samet Welcomes Five New Faces to the Team
By Samet CPA |
We’d like to give a warm welcome to the newest members of our team! Senior Associates: Su Dai, CPA, EA, Joshua Gower, and Avesta Haidary, MBA Staff Associates: Ashley Conti and Samantha Kellman Samet is lucky...
No Current Deductions Before Business Commences
By Samet CPA |
Starting up a business and wondering about how tax deductions will be handled? The most important thing to understand is that most expenses incurred before a business begins functioning cannot...
Samet 2022 Winter Promotions
By Samet CPA |
With a new year comes new promotions! Congratulations to Allison Gaines, Helen Schussler, CPA, Thomas Attura, CPA, Joshua Levine, CPA, Marina Sapashnik, CPA, MBA, Traci Grady, Edward Hurst, CPA, Jakub Sudol, and Daniel Waung, CPA for starting off 2022 with...
Should You Serve as Executor?
By Samet CPA |
When someone asks you to serve as executor of his or her estate, it is generally meant as a compliment that he or she trusts you to serve in this important...
2021: A Year in Review
By Samet CPA |
Out with the old, in with the new! Here’s a look back at some of the 2021 highlights at Samet. We are excited to see what 2022 has in store....
How to Make the Most of the Annual Gift Tax Exclusion
By Samet CPA |
The holidays often inspire a spirit of generosity. So, at year end, many people decide to give money or assets to their loved ones. Over time, lifetime gifts can also be...
Taking Marketability Discounts on Controlling Interests
By Samet CPA |
In a business valuation context, the term “marketability” refers to the ability to quickly convert property to cash at minimal cost. While publicly traded stocks are readily marketable, interests in...
Samet Named to Forbes List of America’s Best Tax and Accounting Firms for 2022
By Samet CPA |
We are proud to announce that Samet was named to the Forbes list of America’s Best Tax and Accounting Firms for 2022! For the third consecutive year, Forbes released this...
Working On Your Estate Plan? Consider a Revocable Living Trust
By Samet CPA |
If you’ve reached an age when you really want to start working on your estate plan, one arrangement to consider is a revocable living trust. Perhaps you’ve heard of one,...
4 Big Charitable Tax Breaks for 2021
By Samet CPA |
Are you feeling generous? Qualified charitable contributions can be rewarded with sizeable tax breaks during the second calendar year of the COVID-19 pandemic. Recent legislation includes the following four temporary...
9 Ideas to Potentially Lower Your Taxes for 2021
By Samet CPA |
With year end rapidly approaching, it’s time to consider making some moves that will lower your 2021 federal income tax bill — and potentially position you for future tax savings....
Year-End Tax Planning Tips for Small Businesses
By Samet CPA |
You may still have time to significantly reduce this year’s business federal income tax bill even with all the uncertainty about proposed tax law changes. Here are five possible moves to...
Samet Celebrates the 10/15 Deadline at Trillium Brewing
By Samet CPA |
On Thursday, we celebrated the completion of another successful tax deadline at Trillium Brewing Company in Canton. Everyone had a blast unwinding, catching up, and of course sipping on some tasty beverages!...
Successful Strategies Create Successful Mergers
By Samet CPA |
Acquiring another company and merging it with your business can be the most efficient way to grow. But many acquisitions don’t pay off and it’s often management issues — not...
The Basics of Estate Planning
By Samet CPA |
With the many changes in the estate tax in recent years, you could be confused about the need for estate planning. But estate planning was never just about reducing estate...
Samet Participates in The Boston House’s 25th Annual Golf Tournament
By Samet CPA |
On Tuesday, a few members of the Samet team headed north to Tedesco Country Club in Marblehead, MA for The Boston House’s 25th Annual Golf Tournament, where they sharpened their...
A New Chapter on College Financial Aid
By Samet CPA |
Financially savvy parents of college students should generally take the time to complete the Free Application for Federal Student Aid (FAFSA) each year. Students must file their FAFSA for the 2022–2023...
Samet Participates in MSCPA Women’s Golf Outing
By Samet CPA |
On Wednesday morning, the MSCPA held their 20th annual Women’s Golf Outing at Stow Acres Country Club. Risë Fanger, Patty Smith, and Jillian Lawless represented Samet at the tournament. Although...
20 FAQs About RMDs
By Samet CPA |
After a one-year hiatus due to the COVID-19 pandemic, owners of qualified retirement plans and IRAs must adhere to the rules for required minimum distributions (RMDs). The RMD rules are...
Retirement Savings: Are You Currently On Track?
By Samet CPA |
Employment disruptions caused by the COVID-19 economic slowdown have scrambled the retirement saving strategies of many Americans. According to a recent survey, nearly half of employed Americans either reduced or...
Would a Roth IRA Conversion Make Sense for You?
By Samet CPA |
Roth IRA and 401(k) accounts were created in 1998. Contributions to Roth accounts are taxed on the front end at ordinary tax rates when made. But withdrawals from these accounts...
Learn the Tax Score for Fantasy Sports
By Samet CPA |
Football season will be kicking off soon. Beware: If you participate in fantasy sports leagues for money, there may be tax implications related to these activities. For instance, you may enter...
New Hire Gathering at Trillium Fenway
By Samet CPA |
On Friday, a few associates welcomed the newest members of our team at a small outdoor gathering at Trillium Brewing in Fenway! We are excited to have several new faces...
Samet Participates in the MSCPA Karter Kup Tennis Scramble
By Samet CPA |
On Thursday, Teddy, Hannah, and Danny braved the heat and headed down to Newport, RI to participate in the MSCPA Karter Kup Tennis Scramble at the International Tennis Hall of...
Beware: Teleworking Arrangements May Cause State Tax Withholding Issues
By Samet CPA |
During the COVID-19 pandemic, many employers shut down their regular workplaces, either partially or wholly, as a safety precaution and instructed their employees to work from home. While some employees have...
Samet Participates in the Neponset River Regional Chamber Golf Tournament
By Samet CPA |
On Monday, several members of our team participated in the Neponset River Regional Chamber Golf Tournament. Congratulations to Risë Fanger, who showed off her golf swing and took first place...
Deadline Coming: Follow Up on Your PPP Loans
By Samet CPA |
Payroll Protection Plan (PPP) loans were a lifeline for many small business owners during the worst of the pandemic-driven economic slowdown. In total, the Small Business Administration (SBA) approved nearly...
Should You Consider an Employer Roth 401(k) Account?
By Samet CPA |
Nowadays, many employer retirement plans give employees the option of contributing to designated Roth accounts (DRAs). According to a 2020 survey, 75% of employer plans now offer DRAs, which are...
Curtailing Tax Surprises with Cyptocurrency
By Samet CPA |
As investing in Bitcoin, Dogecoin and other cryptocurrencies becomes increasingly popular, investors need to understand the potential tax ramifications. Unlike traditional currency, the IRS views cryptocurrency as property for federal...
Compensation vs. Dividends: Which Classification Is Appropriate?
By Samet CPA |
The U.S. Tax Court recently ruled that payments made to a corporate taxpayer’s three shareholders were dividends — not compensation for personal services rendered. The court’s reasoning also may be...
Samet July Promotions
By Samet CPA |
We are excited to announce that several members of the Samet team have been promoted this summer! Congratulations to Paul Ford, Olga Boric, Robert Dickson, Edward Hurst, Brooke Munafo, Hannah Riley, Destynee Teixeira and Claudia Volk on your achievements....
Samet Recognized in INSIDE Public Accounting’s Top 300 Firms of 2021 List
By Samet CPA |
Samet has been acknowledged in INSIDE Public Accounting’s 300 Firms list! IPA, the award winning newsletter for public accounting, annually recognizes the largest accounting firms by net revenue. The companies...
Building Block: Understanding the Alternate Valuation Date
By Samet CPA |
When an individual dies, the executor is faced with an important decision that has the potential to impact the taxes owed by the estate and its heirs.1 The executor will have...
Do You Owe the Nanny Tax?
By Samet CPA |
The COVID-19 pandemic has changed the dynamics of many households. In most cases, schools stopped or limited in-person instruction, causing many children to engage in at-home learning. Some families moved...
Qualifying for Tax Breaks for a Dependent Parent
By Samet CPA |
For many families, the tables may turn, and adult children provide financial support for their parents. For example, you might have moved your in-laws from a long-term care facility into...
7 Valuable Deductions for Self-Employed Individuals
By Samet CPA |
If your business was forced to close due to the pandemic, you may be itching to get back in the game. Or maybe you’re looking to fulfill a lifelong dream...
As the Economy Warms Up, Will You Be Ready?
By Samet CPA |
Preparing for a surge in demand for your business’s products and services doesn’t mean you have to go out on a financial limb. But some contingency planning may be in...
How Landlords Can Cope with Pandemic Fallout
By Samet CPA |
How can tenants pay their regular monthly rent bills if they’re out of job? As unemployment skyrocketed due to the COVID-19 pandemic, Congress enacted a series of laws designed to...
Succeeding At Business Succession
By Samet CPA |
Inc magazine reported that sixty-six percent of small-business owners have no formal succession plan.1 While the number may shock you, it probably doesn’t surprise you since so many small business owners are...
Don’t Overlook a Roth IRA if You Are Self-Employed
By Samet CPA |
Saving for retirement on a tax-advantaged basis should be on nearly everyone’s financial “to do” list, though in this current economic crisis, you may need to put it on the...
Six Key Tax Breaks that Homeowners May Be Able to Claim
By Samet CPA |
The days of classic “tax shelters”— such as cattle breeding or oil drilling deals — are long gone. But at least one major tax shelter is still standing: Your home....
Know Your OSHA Obligations if COVID-19 Strikes Your Business
By Samet CPA |
Not all employers are bound by the recordkeeping and reporting requirements established by the Occupational Safety and Health Administration (OSHA). Generally, an employer must have more than 10 employees to...
Tax Planning When Saving for Your Kids’ Education
By Samet CPA |
Here’s a little-known secret for parents planning to send their children to college in the future: Some of the tax-saving moves you make now could hurt your student’s chances for...
The Evolution of the Employee Retention Credit
By Samet CPA |
The pandemic has adversely affected many sectors of the U.S. economy, causing widespread job losses. At the start of the national emergency, Congress created a novel tax break — the...
Samet’s Danny Waung Takes First Place in MSCPA Virtual 5k
By Samet CPA |
On March 20, the MSCPA held their first virtual 5k walk/run. The organization raised a total of $3,013.43, which will help fund future scholarships and CPA Exam vouchers. Of...
Big Changes to the Child Credit for 2021
By Samet CPA |
The American Rescue Plan Act (ARPA) significantly liberalizes the rules for the federal child tax credit, which means more money in the pockets of eligible parents this year. However, the...
COVID-19 Relief: Overview of the New American Rescue Plan Act
By Samet CPA |
The American Rescue Plan Act (ARPA) was signed into law on March 11, 2021. The new law will provide roughly $1.9 trillion in much-needed financial relief to individuals, businesses, not-for-profit organizations,...
Samet Participates in the MSCPA Virtual 5k Fundraiser
By Samet CPA |
On Saturday, several members of our team sprung into action and welcomed spring by participating in the MSCPA Virtual 5k Fundraiser. Below are a couple of photos from team members in...
Last-Minute Tips for Your 2020 Personal Return
By Samet CPA |
Goodbye, 2020. Hello, tax season. Individual taxpayers have until April 15, 2021, to pay Uncle Sam for taxes owed for 2020. (Remember, you can extend the deadline for filing your return...
International Women’s Day
By Samet CPA |
This International Women’s Day, we are celebrating the powerful women in all departments at Samet who consistently bring their strength and expertise to our firm. Today and every day, we...
Act Fast: PPP Changes Provide Greater Access for Smallest Businesses
By Samet CPA |
The Biden Administration announced changes to the Paycheck Protection Program (PPP) to increase lending to smaller businesses and help ensure equitable distribution of loans to them. But qualified businesses may...
Samet Featured in TAG Alliances Annual Review 2020
By Samet CPA |
Samet’s international alliance, TAG Alliances, has recently published its Annual Review 2020. Reflecting the many changes that the world experienced in 2020, the Annual Review is presented in a new interactive and...
Ways to Fully Deduct Business-Related Meals
By Samet CPA |
Restaurants have struggled mightily during the COVID-19 pandemic. Thankfully, they’re specifically targeted for a new tax relief measure found in the massive Consolidated Appropriations Act (CAA), which became law on December...
Virtual Valentines for Children at Boston Children’s Hospital and St. Jude
By Samet CPA |
This Valentine’s Day, we are spreading love and positivity to the courageous children at Boston Children’s Hospital and St. Jude by sending valentines with encouraging messages and making donations. To...
The Homebuyer’s Dilemma
By Samet CPA |
Fifteen-year mortgages are popular among some homebuyers who want to get rid of the debt in less time and save a bundle in interest expenses. With a 15-year mortgage, the interest...
Important Tax Figures for 2021
By Samet CPA |
The following table provides some important federal tax information for 2021, as compared with 2020. Some of the dollar amounts are unchanged and some changed only slightly due to inflation. Social...
PPP Loan Changes Included in the New Appropriations Act
By Samet CPA |
The Consolidated Appropriations Act (CAA) extends, liberalizes and expands the Paycheck Protection Program (PPP). Originally established by the CARES Act, the PPP expired on August 8, 2020. Now the CAA...
Tax Consequences of Borrowing From a Retirement Plan
By Samet CPA |
If your company has a qualified retirement plan or you have set one up in self employment — such as a 401(k), profit-sharing, or Keogh plan — the participants might be allowed to borrow from...
Shawn Huxley Becomes ERISA Accounting and Auditing Committee Co-Chair
By Samet CPA |
Samet’s Shawn Huxley has become the co-chair of MSCPA’s ERISA Accounting and Auditing Committee. When asked about his goals and plans for the Committee, Shawn said that he is “hoping...
The Tax Implications of Closing a Schedule C Business
By Samet CPA |
Unfortunately, many businesses have already been forced to close their doors due to the economic fallout from COVID-19, and more will surely follow. Closing a business has important federal income...
Theodore Samet Passes Away at Age 96
By Samet CPA |
It is with great sadness that we announce the passing of Theodore Samet, the founder of Samet & Company. Ted’s undeniable drive, love for accounting, and commitment to clients and...
Samet 2021 Promotions
By Samet CPA |
We are ringing in the New Year with several Samet promotions! Congratulations to Taylor Nettleship, Rise Fanger, James Alexander, Erin Kirkaldy, Libby Gajewski, Anthony Lorusso, Hayley Payne, and Sarina Shinko....
Samet Makes Forbes List of America’s Best Tax and Accounting Firms for 2021
By Samet CPA |
We are proud to announce that Samet was named to the Forbes list of America’s Best Tax and Accounting Firms for 2021! For the second consecutive year, Forbes released this...
Should You Buy or Lease Equipment?
By Samet CPA |
If your business is in a position to acquire equipment or machinery, management faces a tough decision: Should you lease it, or should you buy it? There’s no universal “right” answer....
Year-End Estate Planning Tips for 2020
By Samet CPA |
Most people aren’t currently exposed to the federal estate tax, thanks to the generous unified federal estate and gift tax exemptions. However, there are still good reasons to review your estate...
Be on High Alert for Ransomware Attacks
By Samet CPA |
The FBI has warned of a staggering increase in ransomware attacks against businesses since the start of the COVID-19 pandemic. Here’s what business owners and managers should know about these attacks...
Samet’s Walking Competition and Fundraiser for T1D Comes to a Close
By Samet CPA |
This year’s Juvenile Diabetes Research Foundation (JDRF) One Walk took place on November 1st, but the Samet staff decided to make it a month-long event in hopes to bring more awareness...
2020 Year-End Tax Planning Ideas for Small Businesses
By Samet CPA |
Small business owners still have time to make tax planning moves to lower their 2020 federal income tax bills — and possibly lay the groundwork to save taxes in future years....
How to Save Taxes in 2020 and Beyond
By Samet CPA |
It’s time to implement strategies to help reduce your 2020 federal income tax bill and position yourself for future tax savings. Here are some ideas to consider before year end. Gaming...
Samet Participates in JDRF Virtual One Walk
By Samet CPA |
This fall, Samet is participating in the Juvenile Diabetes Research Foundation (JDRF) One Walk and joining them in their mission to create a world without type 1 diabetes. Samet’s managing...
Home Office Deductions in the COVID-19 Era
By Samet CPA |
Have you been working from home during the COVID-19 crisis? Join the club. Approximately 42% of the American workforce is currently working from home full-time, according to a recent study by...
7 Expiring Tax Breaks for Individuals
By Samet CPA |
Several significant federal tax breaks are set to expire at the end of 2020, unless Congress renews them. Lawmakers customarily extend these so-called “extender” provisions for another year or two, sometimes...
How the Current Tax Law Affects Charitable Giving from IRAs
By Samet CPA |
For charitable donors, the Tax Cuts and Jobs Act (TCJA) provided some tax breaks and took away others. Here’s what charity-minded individuals need to know. Increased Charitable Deduction Limit Under prior...
You May Want to Separate Real Estate Assets from Your Business
By Samet CPA |
Many companies choose not to combine real estate and other assets into a single entity. Perhaps the business fears liability for injuries suffered on the property. Or legal liabilities encountered by the company...
Taxes on Roth IRA Withdrawals Today
By Samet CPA |
If you’re experiencing financial distress during the COVID-19 crisis, you might be thinking about tapping into your Roth IRA to improve your cash situation. But before withdrawing money from a Roth...
Back to the Future: Prior-Law Kiddie Tax Rates Retroactively Reinstated
By Samet CPA |
Do your children or grandchildren receive unearned income from investments? Federal tax law contains provisions that are designed to prevent high-net-worth individuals from shifting investment income to children and young adults...
How to Avoid Penalties on Early Retirement Account Withdrawals
By Samet CPA |
Economic fallout from the COVID-19 crisis may cause some cash-strapped individuals to default on loans they’ve taken out from company qualified retirement plans, including 401(k) and profit-sharing plans. Defaulting on a...
Who Will Run Your Business After You?
By Samet CPA |
If you’re a business owner, do you have a plan in place that names who’ll follow you as head of your company? You may feel you’re too busy running the business...
A Good Time for Making Tax-Smart Family Loans
By Samet CPA |
During the COVID-19 crisis, you may want to loan money to a family member in need of financial assistance. However, before writing out a check, you should review the federal...
Five Reasons You May Still Need Life Insurance After Retirement
By Samet CPA |
Every stage of life has its own unique financial planning and insurance needs and retirement is no different. If your life insurance policy hasn’t changed in twenty years, the coverage it...
Last-Minute Strategies for Businesses that Deferred Filing Tax Returns
By Samet CPA |
During the COVID-19 crisis, some key tax deadlines were postponed until July 15, 2020. If your business and/or personal federal income tax return is still awaiting completion, you may have significant...
Plan for Employee Safety as Employees Return to Work
By Samet CPA |
Chances are, employers don’t need the force of law to make them care about the health of their employees, especially during the novel coronavirus (COVID-19) pandemic. But it’s still important to...
Effects of COVID-19 on Retirement Plans
By Samet CPA |
In a time of growing uncertainty, it is important to understand the effects of COVID-19 on retirement plans. The infographic below displays several provisions of the CARES Act that apply...
Top Plan Failures and Prevention Practices
By James Alexander |
Top Plan Failures: Failure to follow the terms of the plan document. Failure to update the plan document to reflect recent law changes. Failure to satisfy ADP/ACP testing requirements (exclude...
When the Gift of Giving Brings a Tax on Receiving
By Samet CPA |
Did you receive a cash gift or job bonus last holiday season? If so, you may have a tax surprise from the IRS in April. In Nerd Wallet’s article, Samet’s...
New Look, Same Samet – We’ve Rebranded!
By Samet CPA |
At Samet, we are easing into 2020 with a fresh new look that embodies our dedication to clients and reflects the core ethos of our firm. Our new brand identity...
Tax Considerations for Craft Brewery Tasting Rooms
By James Alexander |
Tasting rooms allow craft breweries to gain a new source of revenue and to form personal connections with their customers. However, it is important to consider the potential tax implications...
2020 Tax Season Expectations According to Practitioners
By Samet CPA |
With a year of the Tax Cuts and Jobs Act under their belts, practitioners are hopeful that this tax season will be more smooth sailing. In Accounting Today’s article, tax...
Responsibilities and Common Risk Areas of Fiduciaries
By James Alexander |
Are you a Fiduciary? You might be and not even know it. The key factor in determining if the individual or entity is a fiduciary is whether they are exercising...
Bentley University Hosts 2020 Women on Boards National Conversation
By Samet CPA |
On November 21, Bentley University held 2020 Women on Boards National Conversation on Board Diversity. The conversation was “How Can We Help Each Other and Seek Allies to Find a...
Samet Welcomes Cynthia Casey, Allison Gaines, and Risë Fanger to the Team
By Samet CPA |
Certified Public Accounting (CPA) firm, Samet & Company PC (Samet),is pleased to announce that Cynthia Casey, CPA, Allison Gaines, CPA, and Risë Fanger have joined the firm. Cynthia Casey, CPA joined Samet as a Manager and...
Samet’s International Alliance Ranked Third in the World
By Samet CPA |
We are pleased to announce that our international alliance of independent accounting and professional services firms, TAG Alliances®, has been recognized by Accountancy Age as one of the top three accounting alliances...
Samet Creates Encouraging Cards for Children Fighting Cancer
By Samet CPA |
This holiday season, we joined the Jessie Rees Foundation in their mission to help every kid fighting cancer to Never Ever Give Up. Throughout the month of November, we hosted...
Plan Eligibility Trends and Increasing Participation
By Shawn Huxley |
The main reason employees participate in a benefit plan is to save for retirement. In a study conducted by Samet & Company, PC, based on employee benefit plans that were...
Josh Levine and Tom Attura Promoted to Managers
By Samet CPA |
Samet is pleased to announce that Josh Levine, CPA and Tom Attura, CPA have been promoted to Managers. Attura provides accounting and tax services for clients in a variety of industries including wholesale...
Samet Hosts a JoyDrive for Children Battling Cancer
By Samet CPA |
This holiday season, Samet is joining the Jessie Rees Foundation in their mission to encourage every child battling cancer to Never Ever Give Up, or “NEGU.” Jessie Rees was 11...
Choosing the Right Investment Options to Suit Your Goals
By James Alexander |
There is a diverse mix of investment options that a defined contribution plan may offer to its participants. The plan sponsor should aim to provide a sufficient number and variety...
How to Land Your Dream Job According to Experts
By Samet CPA |
When it comes to landing your dream job, there’s a lot more preparation required than simply wearing your best business attire. Samet’s Risë Fanger was quoted in an article on...
Fee Arrangements – Put a Process in Place
By Shawn Huxley |
Plan sponsor and participant disclosures have raised the awareness of plan fees. Are the fees being charged prudent and the amount reasonable in light of the service being provided? Is...
Samet’s Sponsorship of the 2019 National Conversation on Board Diversity
By Samet CPA |
We are pleased to announce that we will be sponsoring the 2019 National Conversation on Board Diversity, 2020WOB’s signature fundraising event. It is with great pride that we are part...
8 Methods to Increase Plan Participation
By Shawn Huxley |
Plan administrators may be noticing a lower than expected participation rate in their employee benefit plan. Increasing plan participation is advantageous not only to employees, but also to the plan...
Kristie DeLuca Serves on the 2020 Women on Boards Steering Committee for Second Year
By Kristie DeLuca |
Samet’s Kristie DeLuca is serving on the 2020 Women on Boards Steering Committee for its 2019 National Conversation on Board Diversity. 2020WOB is a national education and advocacy campaign devoted...
Samet Recognized in the INSIDE Public Accounting’s Top 400 Firms of 2019 List
By Samet CPA |
For the second consecutive year, Samet has been acknowledged in the INSIDE Public Accounting’s 400 Firms list! IPA, the award winning newsletter for public accounting, annually recognizes the largest accounting...
Samet Stars Participate in the MSCPA’s Karter Kup Tennis Tournament
By Samet CPA |
Four members of the Samet team attended the Massachusetts Society of CPAs’ Karter Kup Tennis Tournament at the Tennis Hall of Fame in Newport, RI. The group had a great...
The Benefits of Forming an Investment Committee
By Dennis Giangregorio |
Samet’s Dennis Giangregorio, Shawn P. Huxley and James Alexander explore the many reasons a company’s plan sponsor should consider forming an investment committee. To read the article published on BenefitsPro...
Samet’s Kickball Team Wins the BSSC Championship!
By Samet CPA |
Congratulations to Samet’s kickball team for taking first place in the kickball championship at Boston Ski and Sports Club! All of us at Samet are proud of your hard work...
The Detrimental Effects of Late Deposits
By Dennis Giangregorio |
Plan Sponsors have an important fiduciary responsibility to ensure that all amounts withheld from an employee’s check are remitted to the Plan’s custodian without exception. However, this responsibility extends one...
Dennis Giangregorio Promoted to Partner
By Dennis Giangregorio |
Samet is pleased to announce that Dennis Giangregorio, CPA has been promoted to a partner of the firm as of July 1, 2019. PR Web: To read the full press...
The Pros of Working at a Midsize Professional Services Firm
By Kristie DeLuca |
Samet’s Kristie DeLuca, CPA, acknowledges her admiration for the balanced, flexible, and collaborative work environment she experiences on a day-to-day basis working at a midsize accounting firm. To read more...
Natural Disasters & Retirement Plans
By Shawn Huxley |
Shawn Huxley and James Alexander’s article entitled, “When natural disasters and emergencies strike: Retirement plans & hardship distributions,” was recently published in Benefits Pro (subscription required). Click here to read!
EBSA Study and Its Findings
By Shawn Huxley |
Samet’s Shawn Huxley, CPA, MSA, and James Alexander detailed the most recent EBSA study findings in the article below.
3 Times You Should Consider Business Valuation
By Matt Paul |
Samet’s Matt Paul, CVA, MBA, discusses appropriate times to consider business valuation here!
Easy Ways for Small Businesses to Use Data Analytics
By Matt Paul |
Harnessing the power of big data and analytics can be difficult for small businesses. Limited time, experience, and finances are often the main obstacles preventing small business owners and executives...
Samet & Company PC Promotes 3 as Directors of the Firm!
By Samet CPA |
Samet & Company PC is pleased to announce that Dennis Giangregorio, CPA; Shawn Huxley, CPA, MSA; and Helen Schussler, CPA, CEP have been promoted to Directors of the firm. To...
Doing Business in China: Challenges And Opportunities Event!
By Samet CPA |
Doing Business in China: Challenges and Opportunities Date: November 19, 2018 Time: 5:30 – 7:30 p.m. Call if interested (617)731-1222! Doing business in China can be daunting, but it also presents much...
Kristie DeLuca Joins 2020 Women on Boards Host Committee
By Kristie DeLuca |
Kristie DeLuca is serving on the 2020 Women on Boards Host Committee for the 2018 National Conversation event scheduled to take place November 15, 2018 at 5:30 p.m. at...
Samet’s Robert Miller Featured in Boston Business Journal
By Samet CPA |
Samet’s new Assurance Partner Robert Miller has been featured in Boston Business Journal. To view click here!
Kristie DeLuca to Present for The Boston Club on New Tax Bill
By Kristie DeLuca |
On April 24, 2018, Kristie DeLuca, CPA will lead a discussion on the new tax bill and its impact on members of The Boston Club.
Paul Flanagan Discusses Life at Samet in the New England Real Estate Journal
By Paul Flanagan |
Samet’s Paul Flanagan, Partner, was featured in the March 16th edition of the New England Real Estate Journal! Paul discussed his interests and life at the firm. Check out the...
Kristie DeLuca and David Marcus Promoted to Partners
By David Marcus |
Samet is pleased to announce that effective January 1, 2018 Kristie DeLuca and David Marcus have been promoted to Partner. Kristie DeLuca Kristie DeLuca joined Samet in 2005 as an...
Samet Merges with RSA
By Samet CPA |
Samet & Co. was featured in Inside Public Accounting on its merger with RSA. A link to more information can be found here. Samet & Co. was recently mentioned in MSCPA news on...
Tax Cuts & Jobs Act Updates
By Samet CPA |
On December 22, 2017, the Tax Cuts & Jobs Act (TCJA) was signed into law amending the Internal Revenue Code of 1986. The following documents go into detail of exactly...
Overview of Provisions of the TCJA Affecting Individuals
By Samet CPA |
The recently enacted TaxCuts and JobsAct (TCJA) is a sweeping tax package. Here’s a look at some of the more important elements of the new law that have an impact...
Samet at Trillium's New Roslindale Garden
By Samet CPA |
The Samet team attended the grand opening of Trillium’s Roslindale Garden at the Substation. The team had a great experience learning about Trillium’s commitment to the Substation for the upcoming...
Samet Volunteers with the Ellie Fund
By Samet CPA |
Samet employees Brooke Munafo (right) and Hannah Riley (left) volunteered at a recent Ellie Fund event. Munafo and Riley got an inspiring glimpse at how the Ellie Fund’s six staff...
Jay Kessler, managing shareholder of Samet & Company, PC, joins the board of the College Diabetes Network
By Samet CPA |
Chestnut Hill, MA. November 27, 2017 –Samet & Company PC today announces that Jay Kessler has joined the board of directors of the College Diabetes Network (CDN). Mr. Kessler is...
Industry Trends in Craft Brewery
By Samet CPA |
Gose or no-go? More competition moving in or more brewpubs shuttering? In 2017, craft brewing continues to be a thriving and evolving industry with millions of beer-loving fans around the...
T shares: One Option for Complying with the Department of Labor's Fiduciary Rule
By Samet CPA |
It only went into effect on June 9th, but the Department of Labor’s fiduciary rule, also known as the conflict of interest rule, is already changing the way things are...
Shawn Huxley at BBJ Book of Lists Gala
By Samet CPA |
Our own Shawn Huxley (center) is featured with Steven Buccigross of BlumShapio and Josh Heapes of US Trust at the Boston Business Journal’s 2017 Book of Business Gala at the...
Samet rises in BBJ List of Accounting Firms
By Samet CPA |
In the list published on February 19 by the Boston Business Journal, Samet ranked as the 27th largest CPA firm in Massachusetts with 51 employees. This is a rise from its 2015...
Congress Tax Extenders in the 2015 PATH Act
By Samet CPA |
Congress has once again extended the “extenders,” a varied assortment of more than 50 individual and business tax deductions, tax credits, and other tax-saving laws which have been on the...
Norman Posner co-chair of JCHE Jubilee 50 Year Celebration
By Norman Posner |
Norman Posner, CPA, Shareholder of Samet, co-chaired the Jewish CommunityHousing for the Elderly (JCHE) Jubilee Celebrating 50 Years with Merle Grandberg (pictured left). The event raised a record amount for...
Samet Named To The 2015 INSIDE Public Accounting Best of the Best Firms to Watch List
By Samet CPA |
Samet is proud to announce that it has been named to INSIDE Public Accounting’s Best of the Best Firms to Watch list for 2015. INSIDE Public Accounting’s (IPA’s) annual Best of the...
Transportation Act contains Important Changes to Tax Return Due Dates
By Samet CPA |
On July 31, 2015, President Obama signed into law P.L. 114-41, the “Surface Transportation and Veterans Health Care Choice Improvement Act of 2015.” Although this new law was primarily designed...
Non-profit Financial Statement Presentation Expected to Change
By Samet CPA |
A change in financial presentation is coming for all non-profits. While the details open for comment, generally the sentiment of the change will be related to how non-profits present information on...
Required Employee Benefit Plan Fee Disclosures
By Samet CPA |
This post is part of a larger Plan Sponsor’s Guide to 401(k) and 403(b) plans. Read the full guide. Plan sponsor/Service provider Initial disclosure: Required within a reasonable period before...
Samet walks for Epilepsy New England
By Samet CPA |
Epilepsy New England hosted its 22nd Annual Boston Walk for Epilepsy, the organization’s largest fundraising walk of the year. Samet sponsored the event and was represented by a team...
Samet shareholders in Scotland
By Samet CPA |
Samet Shareholders, Randy Smith and Norman Posner, visited Edinburgh, Scotland for a TIAG conference this month where they had the opportunity to dress in traditional Scottish attire. Looking good gentlemen!
Are you a Fiduciary? You might be and not even know it.
By Samet CPA |
This article is part of a Plan Sponsor’s Guide to 401(k) and 403(b) Plans. Download it today! Are you a Fiduciary? You might be and not even know it. The...
19 Top Employee Benefit Plan Failures
By Samet CPA |
This list is part of a larger report on employee benefit plans that can be found HERE. In no particular order, here are 19 top plan failures for employee benefit...
8 Ways to Increase 401(k) Plan Participation and Why It’s Important
By Samet CPA |
This article is part of Samet’s Plan Sponsor’s Guide to 401(k) and 403(b) Plans. Find the full Guide here. Plan administrators may be noticing a lower than expected participation rate...
Jay Kessler Presented at Boston Fiduciary Summit for 401(k) Plan Sponsors
By Samet CPA |
On Wednesday, March, 24, Jay Kessler presented at the Boston Fiduciary Summit at the UMASS Club in Boston. Jay talked about the difference between an IRS audit and a DOL...
TIR 15-2 Limited Amnesty for Taxpayers with Certain Liabilities
By Samet CPA |
Status: TIR; Issued Tax types: Corporate Excise, Estate Tax, Fiduciary Income Tax, Use Tax on Motor Vehicles Summary: This TIR explains a 60-day amnesty period beginning on March 16 and...
New Reporting Requirements for Cross-Border Transactions
By Samet CPA |
Do you conduct business with foreign businesses? If so, you may have a new reporting requirement under the Foreign Account Tax Compliance Act (FATCA) rules that went into effect on...
BBJ list of Largest Accounting Firms ranks Samet as 28
By Samet CPA |
In the list published on March 6, Samet ranked 28th among its public accounting firm peers with 49 employees.
Samet releases Plan Sponsor's Guide to 401(k) and 403(b) Plans 2014 Edition
By Samet CPA |
Each year, under the leadership of managing shareholder and employee benefit audit specialist, Jay Kessler, Samet publishes a Plan Sponsor’s Guide to 401(k) and 403(b) Plans based in its decades of...
Connecticut Business Entity Tax must be paid again in 2015
By Samet CPA |
The Connecticut Business Entity Tax must be paid again in 2015. The tax is due every other year, so no tax was paid in 2014. The amount of the tax...
Samet Celebrity Sighting!
By Samet CPA |
Jay Kessler, managing shareholder, and Joe Goldberg, manager, had the pleasure of meeting Cedric Maxwell, a retired Celtics star turned radio broadcaster, at a recent game.
NECN interviews Norman Posner about Costly Tax Mistakes to Avoid
By Norman Posner |
Norman Posner, shareholder, was interviewed by Peter Howe of NECN on Costly Tax Mistakes to Avoid for the station’s Money Saving Mondays series. View the full video here: If...
Should You Forgo a Personal Exemption So Your Child Can Take the American Opportunity Credit?
By Samet CPA |
If you have a child in college, you may not qualify for the American Opportunity credit on your 2014 income tax return because your income is too high (modified adjusted...
Massachusetts DOR Issues Proposed Regulation- Market Based Sourcing
By Samet CPA |
Massachusetts tax law was changed for tax years beginning on or after January 1, 2014 to require a multi-state taxpayer to apportion their receipts from services based on where the...
Helen Schussler Awarded Certified Estate Planner Designation
By Samet CPA |
Our Tax Manager, Helen Schussler, has been awarded the CEP designation from the National Institute of Certified Estate Planners. Helen has over 15 years of experience in working with families...
Jay Kessler asked to return as speaker for Boston Fiduciary Summit
By Samet CPA |
Jay Kessler, Managing Shareholder, has been asked to return as a speaker at the 2015 Boston Fiduciary Summit on March 25. The summit is an educational workshop for CFOs, Human...
CPAs – Are You Ready For Tax Season?
By Samet CPA |
Our own Cathy Dana and Helen Schussler were published by the Massachusetts Society of CPAs for their article “Are YOU ready for tax season? 6 Tips for Massachusetts CPAs” giving advice...
IRS Standard Mileage Rates for Your 2015 Taxes
By Samet CPA |
The standard mileage rates for the use of a car, van, or pickup truck in 2015 are: 57.5 cents per mile for business miles driven, up 1.5 cents from 2014...
Tax Changes for Businesses and Health Plans Taking Effect in 2015
By Samet CPA |
There are many important tax changes taking effect in 2015. They are the result of the Tax Increase Prevention Act of 2014 (TIPA) as well as other tax legislation, or...
Tax Planning 2014: 10 Tax Planning Strategies for Businesses & Business Owners
By Samet CPA |
In case you missed it, please read our recent tax planning articles, Tax planning 2014: If and When Congress Decides to Act and Tax Planning 2014: 15 Tax Planning Strategies for...
Tax Planning 2014: 15 Tax Planning Strategies for Individuals
By Samet CPA |
If you missed it, please review our recent article, Tax planning 2014: If and When Congress Decides to Act, which outlines the tax breaks that Congress has on its docket...
Tax planning 2014: If and When Congress Decides to Act
By Samet CPA |
Update: In summary, everything that was in limbo has passed (once it has the President’s signature). On December 16, Congress passed a tax extender package, known as the “Tax Increase...
Kristie Cotter CPA Interviewed By Alma Mater NCC
By Samet CPA |
Kristie Cotter, CPA, a Director with Samet, was interviewed by her alma mater, North Central College in Naperville, IL. The college considers hers an alumni success story. She didn’t always...
Samet Shareholders Attend TIAG International Conference in Hong Kong
By Samet CPA |
John Czyzewski, co-managing shareholder, and Norman Posner, shareholder at Samet & Company PC recently attended TIAG’s 31st international conference in Hong Kong. The conference, which took place on October 20...
Edgar Allan Poe Foundation Statue Unveiling
By Samet CPA |
Norman Posner, shareholder, attended the ceremony for the unveiling of the Edgar Allan Poe statue by Stefanie Rocknak. This statue was commissioned by the non-profit, The Edgar Allan Poe Foundation of...
Jay Kessler Participates in Juvenile Diabetes Walk Boston
By Samet CPA |
On September 27, 2014, co-managing shareholder, Jay Kessler participated in the JDRF Walk for juvenile Diabetes. His team, Natalie’s Neighborhood, collectively raised over $5,000.
Be Aware – That Caller May NOT be from the IRS
By Samet CPA |
There are stories every day of scammers calling or emailing individuals and business owners pretending to be from the IRS and making dramatic claims of investigations and penalties. It can be stressful...
How to Protect Yourself From Underpayment Penalties
By Samet CPA |
You can be subject to penalties if you don’t pay enough tax during the year through estimated tax payments and withholding. Here are some strategies to protect yourself: Know the...
What’s the Difference Between a Compilation, Review, Audit?
By Samet CPA |
The three basic levels of financial statement services are compilation, review, and audit. There are other steps/procedures involved in all levels, but this is a basic summary: A Compilation provides...
Top Takeaways from 2014 Boston Fiduciary Summit
By Samet CPA |
Jay Kessler was a keynote speaker at the July 2014 Boston Fiduciary Summit. This event was held for the benefit of employee benefit plan fiduciaries to learn trends and best...
Jay Kessler Speaks at 2014 Boston Fiduciary Summit
By Samet CPA |
On July 17, Jay Kessler will speak at the Boston College Club for an audience of CFOs, HR Directors, business owners, and fiduciaries of employee benefit plans. Topics to...
TIAG Alliances 2014 Mid-Year Report released
By Samet CPA |
View the TIAG Alliances 2014 Mid-Year Report Excerpt from the report: As we pass the mid-year point in 2014, we can report very good progress on many fronts. Our recruiting...
Samet & Company, PC Creates New Director Role and Promotes Three
By Samet CPA |
July 1, 2014 – Chestnut Hill, MA, USA – To recognize the next generation of leaders in the firm, Samet & Company, PC has created a new role at the...
Samet & Company PC Attends TIAG International Conference in Miami
By Samet CPA |
Samet shareholders John Czyzewski, and Norman Posner recently attended TIAG’s International Conference in Miami. The conference, which took place on May 5th through 7th, provided TIAG® members with the opportunity to...
It’s Not Too Late To Make A 2013 Contribution To An IRA
By Samet CPA |
Tax-advantaged retirement plans allow your money to grow tax-deferred — or, in the case of Roth accounts, tax-free. But annual contributions are limited by tax law, and any unused limit...
Your 2013 Return May Be Your Last Chance For 2 Depreciation-Related Breaks
By Samet CPA |
If you purchased qualifying assets by Dec. 31, 2013, you may be able to take advantage of these depreciation-related breaks on your 2013 tax return: 1. Bonus depreciation. This additional...
2013 Higher Education Breaks May Save Your Family Taxes
By Samet CPA |
Tax credits can be especially valuable because they reduce taxes dollar-for-dollar; deductions reduce only the amount of income that’s taxed. A couple of credits are available for higher education expenses:...
Jeff Swersky re-joins Samet as Shareholder
By Samet CPA |
Jeffrey Swersky, CPA, MBA, MST re-joins Samet & Company, PC as a shareholder of the firm. Most recently Swersky was a shareholder with Braver PC, a Needham based CPA firm....
Samet & Company, PC Announces New Co-Managing Shareholders
By Samet CPA |
Jay Kessler and John Czyzewski named CPA firm’s next generation of leadership. Pictured above: John Czyzewski, Norman Posner, Jay Kessler The public accounting firm, Samet & Company, PC, today announces...