Category Archives: HRH News

Substantiation Requirements for Charitable Contributions

January 5, 2015

Throughout the year, you donate cash, clothing and even furniture to your favorite non-profit organization. But do you know the substantiation requirements for reporting these donations as charitable contributions? Do you need a receipt if you donate more than $250? What if you donate cash or property valued more than $500, or even $5,000? These […]

Massachusetts Tax Changes That May Affect Your Business: The Market-Based Sourcing Rules

January 5, 2015

Effective January 1, 2014, Massachusetts has changed the way that it taxes businesses providing services to Massachusetts customers (business or individuals).  As a result of the change in law, businesses located outside of Massachusetts serving Massachusetts customers may now be subject to Massachusetts tax for the first time.  For New Hampshire based businesses, this may […]

Tax Planning Lessons From a Golf Pro: Sergio Garcia v. Commissioner

January 5, 2015

In professional golf and taxes, coming up short costs big money. Sergio Garcia learned this the hard way in Sergio Garcia v. Commissioner, 140 T.C. No. 6 (2013). Sergio Garcia is a well-known professional golfer, a native of Spain, and was a Swiss resident when he petitioned the Tax Court over the treatment of his […]

Starting a Business?

January 5, 2015

For any entrepreneur, the road to starting a new business is paved with sleepless nights, endless cups of coffee, and the constant worry that things may not pan out. Risking personal time, effort and capital is no easy decision to make, and the last thing anyone in such a situation wants to be thinking about […]

Employees vs. Independent Contractors

January 5, 2015

When a business hires a worker, it must classify the worker as either an employee or an independent contractor. This decision is important due to the legal and financial implications. However, the rules for classifying a worker are complex and subjective. If a worker is misclassified, it may be costly for the business. WHY DOES […]

Divorce and Taxes

January 5, 2015

The following article was written for our newsletter sent to financial advisers. Financial advisers are often the first to know when a client’s marriage is in trouble and a separation or divorce is planned. While the client may be too distraught to consider the tax effect of the situation, the failure to properly plan can […]

Selling Out: Cashing in on Your Ideas

January 5, 2015

It’s a question as old as currency, “how much money would I need to just walkaway from my job?” When it comes to answering that question, entrepreneurs and business owners find themselves in a unique position. Often times a significant portion of their wealth is invested in the business they have helped develop and grow. […]

Startup ESP: Do You Know the Tax Effects of Your Decisions?

January 5, 2015

Seeing the future isn’t always easy, but one doesn’t have to be clairvoyant to make smart decisions early in a company’s life. Making the right decisions early can save time, money, and some serious headaches. Decisions like “should I be an LLC or a Corporation” can seem like they aren’t all that important early on, but […]

Employee Incentive Compensation: What are the Options

January 5, 2015

Attracting and retaining talent is difficult for any company, but particularly for start-ups that compete with larger,well-capitalized companies for top staff. Key employees expect to receive a compensation package consisting of salary, bonus and long-term incentive compensation.  Newer companies often believe that they can’t compete with mature companies in the area of incentive compensation due to […]