Notice Regarding “Compliance Services” Solicitation

Recently, businesses have been receiving communications from a company called “Compliance Services” offering to complete corporate minutes on behalf of the corporation for a fee. 

 Please be aware that Massachusetts corporations are not required to file corporate minutes with the Secretary of State or any other agency. The Massachusetts Secretary of State’s office issued a detailed statement on this issue.

You can access it at http://www.sec.state.ma.us/cor/cormccalert.htm 

 If you have any questions, please contact our Tax Department

Don’t Like Paying for Your 401(k) Plan Audit? Here’s an Alternative.

Companies set up a 401(k) plan for their employees for many reasons. As a vehicle that can help supplement social security income for their employees’ retirement years, a 401(k) is an important recruiting and retention tool and an excellent alternative to a traditional, company-funded pension plan. Plus, it can be rewarding to know that you are offering this support to your hard working employees. Continue reading

Do You Have Foreign Assets?

The IRS estimates that there are more than1 million taxpayers who should be reporting their foreign assets, but are not. The IRS has two types of foreign asset reporting requirements: Foreign Bank Account Reporting (FBAR) and the Foreign Account Tax Compliance Act (FATCA).   Each has its own reporting requirements.  Continue reading

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Welcome to GG&G’s Blog, GG&G News. We will consistently use this platform to share relevant and important news and updates for our readers to ensure that they are kept up-to-date on all tax related issues which will help them stay successful and in compliance. Thanks for reading and please sign up on the link to have all updates to this blog sent straight to your email.