Real Estate

Press Release

Gray, Gray, & Gray Named to Banker & Tradesman “Best of 2020” List

Canton, MA (December 1, 2020): Gray, Gray, & Gray, LLP (www.gggcpas.com) has been named one of the “Best of 2020” by readers of Banker & Tradesman, one of the New England region’s leading publications for the banking and real estate industry. The firm received the Silver Award for Accounting & Audit in the Banking category.This is the 13th …

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Koch's Corner

Koch's Corner: Staggering Effective Dates for Accounting Updates

Koch’s Corner delivers concise, “need to know” summaries of important updates on accounting and assurance issues for privately-held companies. By Richard Koch, CPA Director of Quality Control at Gray, Gray & Gray Accounting standards are the bedrock on which CPAs and other financial professionals base their judgements. But sometimes even bedrock shifts, and accounting standards, …

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Koch's Corner

Koch’s Corner: Recognizing Revenue from Customer Contracts

Koch’s Corner delivers concise, “need to know” summaries of important updates on audit & accounting issues for privately-held companies. By Richard Koch, CPADirector of Quality Control at Gray, Gray & Gray If your company has contracts with customers, the way you recognize (for accounting purposes) the revenue generated by those contracts has changed. This is …

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Saving

Maximizing Business Property Depreciation Under the New Tax Law

Landlords and commercial property owners may want to take advantage of more favorable property depreciation rules that were part of the Tax Cut and Jobs Act, which are now in effect. The depreciation rules can be applied to most tangible property, including buildings, furniture, machinery, equipment and vehicles; but depreciation cannot be applied to land. …

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Articles

New Law Increases Holding Period for Carried Interests

On the campaign trail, President Trump pledged that tax reform under his leadership would target carried interests — more widely known in the real estate industry as the “promote” in partnership agreements or operating agreements for limited liability companies (LLCs) that are treated as partnerships for tax purposes. In the end, the Tax Cuts and …

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Articles

Captive Insurance Strategies Can Pay Off For Real Estate Operators

Federal tax law has permitted U.S. businesses to form so-called “captive” insurance companies for many years, and numerous large companies have done so. It’s only relatively recently that the arrangement has gained traction with smaller public and privately owned companies. Could your real estate business benefit from pursuing captive insurance strategies? To find the answer, …

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Articles

How New Lease Accounting Rules May Impact Landlords and Tenants

By Richard Hirschen, CPA, CGMAGray, Gray & Gray, LLP Changes to the way leases are treated for accounting purposes were issued back in 2016 but are just now becoming effective. The new standard significantly changes how leases are recorded and will have an impact on both tenants and landlords. The new Financial Accounting Standards Board …

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Webinar

Untangling the New Qualified Business Income Deduction

https://www.youtube.com/watch?v=sWApK_KeELc&feature=youtu.be Make sense of the 199A opportunities for your pass through business. C Corporations are not the only entities to receive a tax break in the new tax law. Watch this one-hour webinar as Tax Partner Emeritus Mike Koppel sorts out the details and gives a clear picture of how 199A can work for you. Don’t miss out …

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Articles

Changes to Lease Accounting Proving to Be More Complex Than Anticipated

The deadline to implement major changes in the way leases are treated for accounting purposes may appear to be well in the future:  late 2019 for publicly traded companies, and January 1, 2020 for privately held companies and non-profits. But accounting professionals are discovering that the work necessary to make the transition is significantly more …

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Articles

Red Hot Tax Tips for a Red Hot Real Estate Market

Drive down almost any street in Greater Boston and across eastern New England and you are almost guaranteed to see “For Sale” signs sprouting like late summer weeds. The real estate market in our region is among the most active in the country, with eager buyers lining up to snap up a home inventory that …

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