Employee Retention Tax Credit Expanded

Jan 25, 2021

Among the provisions of the Covid-19 relief legislation enacted in late December 2020 is a significant expansion of the Employee Retention Tax Credit (ERTC).

New Covid-19 ‘Stimulus’ Law Expands Tax Incentives for Businesses

Jan 25, 2021

The recently enacted Consolidated Appropriations Act provides Covid-19 relief to businesses in the form of tax deductions and credits.

Kevin J. Bonnett CPA promoted to Accounting & Auditing Director

Jan 4, 2021

MILTON, MA – GT Reilly & Company has announced that Kevin J. Bonnett, CPA, has been promoted to Accounting & Auditing Director. Bonnett provides audit, tax and consulting services to privately held businesses, including manufacturers and distributors, as well...

CARES Act expands tax deductions for charitable giving in 2020

Dec 21, 2020

Charles R. Kennedy, CPA, MBA Vice President & Director of Tax Services As 2020 draws to a close, taxpayers who made charitable contributions this year – or who plan to before the clock strikes midnight on December 31 – may benefit from three provisions of the...

Qualifiying for the medical expense tax deduction requires planning and timing

Dec 21, 2020

Carol A. Magyar, CPA, MST Tax Director Many medical expenses are deductible on your federal tax return, but the rules governing this type of deduction make it difficult for some taxpayers to qualify. However, proper planning and timing of discretionary expenses may...