In today’s uncertain marketplace, businesses are being forced to re-evaluate their working capital needs. Some managers have learned the hard way during the pandemic that operating “lean” has its limits. What...
There’s good news for owners and designers of commercial buildings that are energy efficient. In 2021, the energy-efficient commercial buildings deduction (also known as Section 179D) was made permanent, thanks to...
Conducting business in another country can be an effective way to expand your company and boost its revenues. But before you indulge, you need to be clear on how the prospective...
Over the years, McDonald’s has been able to sell hundreds of billions of hamburgers. The business started with a single drive-in burger stand started by two brothers in Southern California. Now...
There was a time not too long ago when seriously ill individuals would die before the Social Security Administration (SSA) got around to reviewing and approving their applications for disability benefits....
Recordkeeping for reimbursing business travel expenses can be cumbersome. Instead of reimbursing employees for the actual costs they incur for out-of-town lodging, meals and incidentals, some employers opt to pay fixed travel per...
Most people already understand the tax rules for individual charitable donations, including generous deductions that may be available to itemizers when they give cash or property to charity. But your business may also...
There’s more to financial reporting than profits. The statement of cash flows can be a powerful management tool. During an economic downturn, it’s especially important for managers to monitor cash flows...
Charitable contributions can be an effective way to lower taxes for the current tax year, but they don’t necessarily have to be made with cash. Charities also welcome donations of company...
When you consider going into business for yourself, you have three basic choices: Start from scratch, buy an existing business, or look for opportunities to purchase a franchise. A franchise gives...
Growing businesses need leadership. After reaching a certain level of success, many business owners realize that they can’t comfortably cover every aspect of running the business. At this point, they...
If you are one of the many Americans who are in a second marriage, you may need to revisit your estate strategy. Unlike a typical first marriage, second marriages often...
Inflation has been heating up and is expected to continue at least into the fall, possibly longer. Where does this forecast leave nervous investors? A well-balanced portfolio is often considered...
The average cost of a data breach has risen to a record high, according to a new study by the independent research firm Ponemon Institute. The study found that the...
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?...
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...
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...
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...
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...
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...
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...
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,...
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...
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...
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...
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%...
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....
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...
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...
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...
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...
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...
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...
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...
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% —...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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,...
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...
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....
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...
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!...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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 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...
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...
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...
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...
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...
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 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...
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...
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...
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....
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...
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 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...
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...
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...
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,...
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...
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...
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’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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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....
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...
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....
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...
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...
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...
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....
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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: 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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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!
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 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 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 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 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...
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 & 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...
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...
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...
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 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...
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...
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...
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...
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...
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 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, 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 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...
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...
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...
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...
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, 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!
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...
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...
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...
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...
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...
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...
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...
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.
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...
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 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...
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, 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...
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...
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...
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...
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...
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...
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, 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...
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...
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...
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.
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...
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.
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...
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...
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...
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...
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 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...
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...
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...
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:...
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....
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...