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What Does It Mean for Estate-tax Liability in Massachusetts? By Elizabeth Dougal, Esq.   Massachusetts estate-planning clients frequently ask whether they should transfer their vacation property, typically located in Florida or New Hampshire, to a limited liability company. The answer is almost always ‘no.’ Why? Because Massachusetts does not tax out-of-state real estate held individually.

Rolling with the Changes By Daniel Eger and Cindy Gonzalez Tax laws are like a constantly shifting landscape, subject to periodic changes that can significantly impact your financial bottom line. Whether you’re an individual taxpayer striving to maximize deductions or a business owner who wants to optimize your financial strategies, staying informed about the latest

Kicking Off a Campaign   Cooley Dickinson Hospital announced last week that it has received a $100,000 gift from Greenfield Cooperative Bank to support the expansion and renovation of its 50-year-old Emergency Department. The bank’s donation also serves as the kickoff gift for a $1,000,000 challenge opportunity. “This incredibly generous gift in support of the

Peaking Their Interest   Bob Fraser acknowledged there’s a good deal of real estate between the Berkshires and the Bay State’s South Shore. He knows because he traverses that distance regularly. But for the somewhat unique financial-services institution known as MountainOne, which can trace its roots back to 1848, having bank branches and other facilities

Roadmap for Reporting By Jennifer Sharrow, Esq.   Businesses, get ready. The federal government is implementing new reporting requirements that will bring even the smallest businesses under the purview of the U.S. Department of Treasury. All entities registered with a secretary of state are now required to make mandatory reports which require specific and detailed

An Uphill Climb Dan Moriarty was among the participants in the recent IRONMAN competition that wound its way through many Western Mass. communities. The president and CEO of Monson Savings bank, Moriarty is also an avid biker, and decided to take things up a notch — or two, or three — with the IRONMAN, which

Calling for a Recount By Kara Graves, CPA   On Feb. 23, 2023, the Department of Labor, the IRS, and the Pension Benefit Guarantee Corp., in conjunction with the Employee Benefits Security Administration, released requirement changes to Form 5500, Annual Return/Report of Large Employee Benefit Plans, and Form 5500-SF, Annual Return/Report of Small Employee Benefit

Sound Investment By Hub International   Financial wellness is no longer just being a nice thing for employees or a way to help recruiting and retention — it’s an important tool for improving profits. The demand from the workforce is clear. A recent survey indicated only 42% of employees feel compensation has kept up with

Julie Quink (left) and Deborah Penzias

Firm Resolve   Julie Quink says she’s often asked about the name of the company she now leads with her partner, Deborah Penzias. And that’s understandable, given that neither one is named Burkhart or Pizzanelli. Those were the names of the founders, Quink explained, adding that the firm’s name has become a respected brand over

Vinnie Daboul (right, with Bob Borawski)

Beyond the Paycheck Allison Ebner called it “a little bit of a wavy ocean at the moment.” She was referring to the shifting calculus within companies of what benefits to offer employees and how to structure them, but the description is equally apt for the workforce challenges that are making those discussions just a little

Checks and Balances   By Mark Morris About a year into the pandemic, banks found themselves in a strange position. When the federal government pumped stimulus and Paycheck Protection Program (PPP) money into the economy to help consumers and businesses regain their footing, it created an unprecedented glut of deposits. In normal times, banks would

And If There Is One, How Will It Affect You? By Barbara Trombley, CPA   It seems as if we have been waiting for a recession for quite a while now. Economists initially thought 2022 would bring a recession. Certainly, it seemed as if a recession was inevitable as the stock market (S&P 500) dropped

The five partners at Meyers Brothers Kalicka

Marking a Milestone It’s called the ‘Founders Room.’ This is a small conference room at Holyoke-based Meyers Brothers Kalicka featuring a table that can comfortably seat six or seven people, which makes it a popular spot for smaller meetings and an attractive alternative to the cavernous main conference room, which can host more than 40.

Avoiding a World of Hurt By Encharter Insurance   If you are an employer in Massachusetts with one or more employees, workers’ compensation is a mandatory business-insurance coverage. An employer may be an individual, a partnership, a corporation, or any other form of ownership that has employees. Failure to carry workers’ compensation coverage can result

Perfect Storm Inflation ebbs and flows in unpredictable ways. The insurance world is certainly finding that out — and so are customers seeing their auto-insurance bills. “Auto insurance hasn’t kept up with inflation over the past three to four years, and it’s finally catching up to it,” said Michael Long, CEO of Axia Insurance Services