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Dec 18, 2014

Congress Passes tax Extenders including bonus depreciation through 2014

Congress has approved the Tax Increase Prevention Act of 2014 (HR 5771). The new law extends so-called “tax extenders” retroactively for one year (through 2014). It also includes the Achieving [...]

Oct 24, 2014

Increase in 401(k) and other plans announced

Yesterday, the IRS announced Cost-of-living adjustments (COLAs) that will favorably affect certain dollar limitations and other retirement-related provisions for most 401(k), 403(b), 457, and Pension Plans.  In general, the limitations [...]

Oct 01, 2014

Best Practices of Effective Audit Committees

The article mentioned below is an excellent read for those involved with nonprofit entities. Best Practices of Effective Audit Committees By Brendan Donovan “Audit committees strengthen nonprofits by protecting their [...]

Feb 19, 2014

NH Businesses Beware: Massachusetts Has a New Apportionment Formula

Reprinted from the New Hampshire Bar News: By: David Heath Last summer, our neighbor to the south enacted two changes that would have a significant impact on the tax burden [...]

Jan 07, 2014

Final rules isued for property improvements and repairs

The IRS has recently issued final “repair” regulations that are intended to provide more certainty to the treatment of costs to acquire, produce or improve tangible property.  These otherwise extensive [...]

Dec 20, 2013

The Massachusetts DOR Offers Taxpayers a Faster Way to Settle Tax Disputes

The Massachusetts Department of Revenue (DOR) is giving taxpayers a new option for settling tax disputes quicker than traditional appeal methods or litigation following the success of a year-long early [...]

Dec 16, 2013

Expiring tax provisions may increase taxes in 2014

Although recent action has been taken in the form of the recent Budget compromise passed last week that contains no increases in tax rates, certain inaction by Congress may raise [...]

Dec 12, 2013

IRS issues guidance on 2013 3.8% Net Investment Tax

The IRS has issued final and proposed regulations that provide guidance on the general application of the net investment income tax (“NIIT”) and the computation of net investment income (“NII”). [...]

Nov 21, 2013

State Income Taxes and the State of Economic Nexus

States no longer require taxpayers to be “present to win” Businesses that perform operations in several states often ask me which states to file income tax returns for. The answer, [...]

Nov 21, 2013

NH Tax ruling provides opportunity for small business owners

It has long been established that distributions from corporations are taxable to New Hampshire resident shareholders through the Interest and Dividends (“I&D”) tax.  These distributions are also taxable for federal [...]

Nov 04, 2013

What is the “Kiddie Tax”?

A child with earned income above a certain level is generally required to file a separate tax return as a single taxpayer. However, a child with a certain amount of [...]

Nov 01, 2013

Use-or-Lose Rule for Health FSAs Under Cafeteria Plans Modified

The Treasury Department and the IRS have issued guidance modifying the long-standing “use-or-lose” rule for health flexible spending arrangements (FSAs). The modifications permit Section 125 cafeteria plans to be amended [...]

Oct 29, 2013

IRS announces expected filing delays

Taxpayers can expect the start of the 2014 filing season to be delayed for possibly two weeks, the IRS has announced. The IRS explained that agency personnel, many of whom [...]

Oct 25, 2013

Call for Tax Reform

House Ways and Means Committee Democrats are urging Chairman Dave Camp, R-Mich., to craft tax reform legislation in a bipartisan manner in the House. Given the chaos over the past [...]

Oct 18, 2013

Year end strategies and changes

Year-end 2013 brings many new planning opportunities along with the traditional year-end tax planning strategies. It also brings challenges—for both individuals and businesses. There is much for taxpayers and their [...]

Oct 03, 2013

Massachusetts Tech Tax repealed

Massachusetts “Tech Tax” officially repealed and signed by Governor Patrick on Friday. Probably the most “short-lived” tax legislation…ever! http://lnkd.in/bW6t-iV

Sep 26, 2013

Massachusetts tax changes – Part 2

With all the hoopla about the Massachusetts Tech Tax, we almost forgot about its sister act. We were reminded when on Monday of this week the Massachusetts DOR issued a [...]

Sep 19, 2013

Mass “Tech Tax” now in a coma

In response to recent public comments by Governor Patrick and leaders of both the House and Senate, yesterday the Massacusetts DOR issued TIR 13-14 that officially delays the initial reporting to [...]

Sep 12, 2013

Massachusetts Tech Tax – The Next Chapter

After a regional outcry that could only rival New Hampshire’s “LLC Tax” a few years ago, Massachusetts House and Senate leaders said today they’ll push to repeal the so-called “Tech [...]

Aug 15, 2013

Massachusetts Sales and Use “Tech Tax” could hit New Hampshire Businesses

Also, NH high-tech firms with customers south of the border may unknowingly be affected by the tax. Read NHBR article for more insight or Contact Us  to see how this may affect your [...]

Aug 13, 2013

Maine issues guidance on Sales and Use Tax rates

Maine Revenue Services has issued two notices, one for annual filers and another for semiannual filers, discussing changes in reporting sales for January 1, 2013, through December 31, 2013, for [...]

Aug 06, 2013

Massachusetts issues FAQs for new sales and use tax on computer services

On August 5, the Massachusetts Department of Revenue has issued a release that provides additional guidance and answers to frequently asked questions regarding the newly enacted sales and use tax [...]

Aug 05, 2013

Tax consequences of Supreme Court DOMA ruling

The recent Supreme Court ruling in Windsor will have far reaching effects including significant income and estate tax implications. We have provided a more detailed summary for your reference. Please contact us [...]

Jul 05, 2013

Maine legislature overrides Governor’s budget veto

Maine Governor Paul LePage isn’t feeling the love lately.  On June 26, the Maine Legislature overrode the Governor’s veto and avoided a possible government shutdown.  Here are a few of those changes that [...]

Apr 30, 2013

Happy 100th Birthday to the US Tax Code

The US Tax Code was enacted effective March 1, 1913 and my how it has grown..!  The first Form 1040 was four pages long, including one page of instructions.  For [...]

Mar 14, 2013

Melanson Heath ranks 12th in New England

In their March issue, AccountingToday.com released their rankings of the nation’s top accounting firms and how they rank by region.  Melanson Heath & Company, PC is ranked twelfth in New [...]

Mar 13, 2013

NH Secretary of State warns of scam

The New Hampshire Secretary of State’s office has received calls regarding a deceptive letter that appears to come from a government source. These letters urge businesses to file information and [...]

Feb 21, 2013

IRS Predicts Remaining Forms Will Be Accepted In Early March

The IRS has reported on its social media feeds that it is processing returns with Form 4562, Depreciation and Amortization, and returns with Form 8863, Education Credits, and expects to [...]

Feb 21, 2013

High Traffic at IRS Slows “Where’s My Refund?”

Taxpayers can check the status of their refund using the online tool Where’s My Refund? or smartphone app. Because of the large number of inquiries, the IRS urged taxpayers to [...]

Feb 05, 2013

Tax-Free IRA Distributions

The American Taxpayer Relief Act of 2012 (2012 Taxpayer Relief Act) extends through 2013 the provision which allows individuals who are at least 70½ by the end of the year [...]

Jan 31, 2013

2013 Filing Season Begins January 30; Longer Wait For Some Filers

The IRS will open the 2013 filing season and begin processing individual income tax returns on January 30, 2013, the agency has announced. Among its many changes, ATRA “patched” permanently [...]

Jan 31, 2013

Noncash Charitable Contributions Will Face New Hurdles

Taxpayers planning to make noncash charitable contributions may face more stringent reporting requirements or IRS enforcement in the future if the IRS follows recent recommendations made by the Treasury Inspector [...]

Jan 29, 2013

Taxpayers relieved that relief act was passed

Congress, as part of their New Year’s party, passed a series of tax provisions that, while mostly extended the “Bush era” tax cuts and a few other business-friendly tax benefits, put [...]

Jan 29, 2013

Old tax benefit gets renewed attention

Tax relief for sales stock of certain small business is getting renewed attention recently.  Buried in the recent 13th hour tax extenders and rate adjustments passed on January 3, was [...]

Dec 13, 2012

Supreme Court to consider Defense Of Marriage Act (DOMA) Challenge In Estate Tax Case

The U.S. Supreme Court has agreed to consider, among other questions, if the Defense of Marriage Act (DOMA) violates the Fifth Amendment’s guarantee of equal protection as applied to same sex couples [...]

Nov 09, 2012

2012 Post Election Tax Policy

Agreement On Taxes/Spending Possible By Year-End President Obama secured a second term in office November 6, 2012, in the end winning the Electoral College by a wide margin. The President’s [...]

Sep 27, 2012

Kathleen Allen elected Director and Treasurer of Education Foundation

Nashua Education Foundation elects board members NASHUA – The Nashua Education Foundation announced the election of Ray Lambert and Bette Lasky to the board of directors for three-year terms. Lambert [...]

Aug 28, 2012

Lori Liberty and David Heath Nashua Community Heroes

For almost 25 years, Lori Liberty and David Heath have shared the same professional aspirations and ambitions as CPAs and owners in the Nashua-based regional accounting firm of Melanson Heath & [...]

Jul 31, 2012

Obamacare requires new Employer mandates starting this year

The following is a summary of some of the provisions that affect employers with more than 50 employees, some starting in 2012: Employers are required to report the value of [...]

Jun 08, 2012

Scott McIntire presents at recent New England GFOA Conference

Scott McIntire, a sharehloder and specialist in Governmental audits and reporting, was a featured presenter at the recent New England States Government Finance Officers Association conference.  Scott presented a comprehensive update of  recent developments [...]

Jun 28, 2011

MHCo Welcomes Sheryl Stephens Burke as Shareholder, Officer, and Director

Sheryl joined the Firm in 1990 and has developed her expertise in both municipal and not-for- profit sectors. As a Senior Manager with the Firm, Ms. Burke has been instrumental [...]

Dec 06, 2010

2010 Year End Tax Tips

As the end of 2010 approaches, now is a prime time to start thinking about year-end tax planning strategies to minimize your 2010 tax liability on April 15. This year, [...]

Dec 06, 2010

Ride-Away CFO Young Professional of the Year

MHCo client Ride-Away Chief Financial Officer Jamie Kuczewski has been named Young Professional of the Year by Business NH Magazine.  In addition to her responsibilities at Ride-Away, Jamie is involved [...]

Dec 03, 2010

Tax Limbo

The Republican “wave” in the November elections did not have the effect of melting the frozen state of negotiations over what to do about the “Bush tax cuts” that expire [...]

Dec 02, 2010

Robyn Curdie completes CPA Exam

NASHUA, New Hampshire  – Melanson Heath & Company, PC is pleased to announce that Robyn Curdie has passed all parts of the uniform Certified Public Accountant (CPA) exam governed by [...]

Apr 12, 2010

New “LLC Tax” Will Harm New Hampshire’s Competitiveness

By David Heath Click here it listen to a NHPR Radio essay/interveiw which explains how the LLC tax might affect a small business The Legislature’s recent expansion of the interest and dividends tax [...]