Insights

Congratulations to Jacob Bear and Samantha Calvao for leading Team MBK during a community service day at the Springfield Forest Park Zoo!

With the federal gift and estate tax exemption at historically high levels, many families are shifting their estate planning focus to income tax considerations.

Businesses considering vehicle purchases before year-end in 2026 may be able to take advantage of significant tax-saving opportunities.

As year end approaches, taxpayers age 50 and older may still have time to increase retirement plan catch-up contributions and potentially reduce their 2026 tax bill.

Congratulations Kristi Reale, CPA, CVA on being appointed to the New England Society of Certified Public Accountants!

On July 13, 2026, the IRS announced an increase in the mileage rate for the second half of the year. Ordinarily, the IRS updates mileage rates only once a year, but occasionally it makes interim adjustments like this one, which reflects recent increases in the price of fuel.

As of August 11, 2026 the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule that permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information to FinCEN under the Corporate Transparency Act.

Most nonprofits that lose their exempt status do so because they fail to file Form 990s for three consecutive years. Automatic revocations are common, particularly with newer nonprofits. Fortunately, it’s possible to regain a tax-exempt status.