Caitlin Ernst / Observations, Tax /
Taxpayers can transfer substantial amounts free of gift taxes to their children or other donee each year per person through the proper use of the annual gift exclusion. The current year exclusion amount is $16,000 and rises to $17,000 in 2023. Even gifts that are not covered by the annual exclusion, that may be considered… [Read More]
Caitlin Ernst / Observations, Tax /
The state-sponsored New Hampshire Paid Family & Medical Leave insurance plan (“NH PFML”) is available for all employers and eligible employees. This plan allows employees to purchase PFML insurance that grants them a 60% wage replacement for up to six weeks per year for absences from work related to certain life events including serious health… [Read More]
Caitlin Ernst / Uncategorized /
Please join us in welcoming Erica Edwards to Maloney & Kennedy as our newest Staff Accountant. Erica is a graduate of Rhode Island College with a Bachelor of Science in Business Management and Accounting, where she achieved Magna Cum Laude status. Erica will assist clients and businesses with tax preparation and accounting services. As a… [Read More]
Caitlin Ernst / Uncategorized /
Congratulations to Kevin Kennedy on attaining his Accredited Business Valuation (ABV®) credential! This noteworthy achievement is granted exclusively by the AICPA to CPAs and qualified finance professionals who demonstrate considerable expertise in business valuation through their knowledge, skill, experience and adherence to professional standards. Please join us in applauding our own Kevin C. Kennedy, CPA,… [Read More]
Caitlin Ernst / Uncategorized /
The Taxpayer Certainty and Disaster Relief Act of 2020 provides a temporary exception to the 50% limit on the amount that businesses may deduct for food or beverages. The temporary exception allows a 100% deduction for food or beverages from restaurants. The IRS issued Notice 2021-25 to provide additional guidance on these changes. Meal Expenses:… [Read More]
Caitlin Ernst / Observations, Tax, Tax Filings /
On Nov. 15, 2021 The Infrastructure Investment and Jobs Act of 2021 (IIJA) was signed into law. The IIJA includes requirements for the reporting of cryptocurrency exchanges using intermediary Form 1099 reporting. Generally, these rules will apply to digital asset transactions starting in 2023. As you know, if you have a stock brokerage account, then… [Read More]
Caitlin Ernst / Uncategorized /
Chris Stevenson is the new office manager for Maloney & Kennedy. Having graduated from McIntosh College with an Associate’s Degree in Accounting, Chris comes to us with more than 15 years of office management experience. Chris’s duties at Maloney & Kennedy include managing all aspects of the business office. A lifelong New Hampshire resident, Chris… [Read More]
Caitlin Ernst / Company News, Staff /
We’d like to take a moment to express our gratitude to Linda Silva, who is retiring this month. Linda has been our dedicated Office Manager here at Maloney & Kennedy, PLLC for over 10 years. Thank you, Linda, for everything you have done for us. We wish you a joyful and fulfilling next chapter.
Caitlin Ernst / Company News, Staff /
Maloney & Kennedy is proud to announce that Jason Belanger has earned his Certified Public Accounting License (CPA) from the State of New Hampshire. A CPA license is the accounting profession’s highest standard of competence, a symbol of achievement and assurance of quality. Jason has a Bachelor of Science degree in Accounting from Plymouth State… [Read More]
Caitlin Ernst / 0 Comments / Legal /
A news release today from the New Hampshire Senate newsroom indicated that the New Hampshire senators are working towards legislation which, if passed, provides that New Hampshire businesses that received Paycheck Protection Program Loans (PPP) from the federal government would not be subject to either the state’s BET or BPT taxes. It is believed this… [Read More]