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Edgewood LifeCare Community to Hold “Make Your Best Move” Seminar on Thursday, March 12th

March 3, 2015 //  by admin

_DSC8593-2Edgewood LifeCare Community, an award-winning, non-profit independent living LifeCare community will hold a seminar and luncheon entitled “Make Your Best Move” on Thursday, March 12, 2015 at 10:00 a.m. in their auditorium, located at 575 Osgood Street in North Andover.

Edgewood’s “Make Your Best Move” seminar discusses all aspects of moving and how doing it correctly will streamline your way to a stress-free retirement lifestyle.

Featured speakers are Linda Early, realtor and owner of Coco, Early & Associates, and Kate Grondin, owner of Home Transition Resources. Topics covered will include: facts about the current housing market; insider tips and tricks for downsizing; ideas for increasing your home’s curb appeal; strategies for staging your home for today’s buyers; the secrets of selling your home quicker; and expert help coordinating all aspects of your move.

This event is free and open to the public.

Seating is limited and registration is required. To reserve your seat, call 978-620-0042 or sign up online at http://www.edgewoodrc.com.

Edgewood is dedicated to providing a well-rounded, intellectually stimulating and physically active environment for older adults. A wide range of unique lectures, classes and films, many which are open to the public, are offered on an ongoing basis through the Edgewood LifeLong Learning (ELL) Program. Events held recently include “Robert Burns Night” celebrating the life and work of Scotland’s most famous poet. Upcoming events include a “Scams, Fraud and Identity Theft” presentation by the Better Business Bureau and “The Mensch of Malden Mills” with special guest Aaron Feuerstein of Malden Mills factory complex.

The Edgewood Difference

Founded in 1997, Edgewood LifeCare Community is an award-winning, non-profit community focused on enriching the lives of their members. Edgewood offers independent living, health care and support services, which empower members to be the architects of their own well-being.

As the only LifeCare community in the Merrimack Valley, Edgewood offers refined apartment and cottage independent living for active older adults as well as short term rehabilitation and long term care at the Meadows Health Center. Edgewood LifeCare Community boasts lower entrance fees as compared to the Greater Boston area, and monthly rates for services remain stable regardless of the level of care needed. Edgewood LifeCare Community is located at 575 Osgood Street in North Andover, MA. For more information, contact (978) 738-6145 or visit www.edgewoodrc.com.

 

Edgewood LifeCare Community to Hold “Make Your Best Move” Seminar on Thursday, March 12thRead More

Category: Client NewsTag: active older adults, classes, Edgewood LifeCare Community, Edgewood Lifelong Learning, ELL, independent living community, lectures, LifeCare Community, Make Your Best Move Seminar, Marlene Rotering, North Andover, retirement

Baker, Braverman & Barbadoro P.C. Attorney Susan Molinari completes PAIR training

March 2, 2015 //  by admin

Susan Molinari, Esq.
Susan Molinari, Esq.

BOSTON, BRAINTREE AND QUINCY, MA…

Susan Molinari, Esq., an attorney at Baker, Braverman & Barbadoro P.C., recently completed training at The Political Asylum/Immigration Representation Project (PAIR), the premier provider of pro bono immigration legal services to asylum-seekers and immigrants unjustly detained in Massachusetts.

The training Molinari attended, entitled “Representing Minors: An Overview of Special Immigrant Juvenile Status”, focused on how to assist juveniles to gain protective status in state court and before the immigration service. It also offered strategies on how to work with minors and highlight available resources that minors can access.

“The immigration issue has been percolating for many years and there seem to be far more questions than answers. Thanks to the training I received at PAIR, we have a few more answers and can better represent the true victims of immigration reform, the children,” said Molinari.

Founded in 1989, PAIR is nationally recognized pro bono model that works to secure safety and freedom for asylum-seekers who have fled from persecution throughout the world and to promote the rights of immigrants unjustly detained. PAIR provides hope and a new beginning to asylum-seekers, torture survivors and immigration detainees.

“Even though we pride ourselves on Boston-caliber legal representation at fees you will only find outside the city, we realize not everyone who needs a lawyer can afford to retain one,” said Paul Barbadoro, a partner at the Firm. “Susan is one of several attorneys at our Firm who takes that to heart and will work pro bono for certain cases. We’re proud of her commitment to getting the training needed to better represent immigration clients.”

In addition to her work with immigration, Molinari specializes in complex litigation cases, trials and appeals in the areas of business and commercial litigation, criminal defense, consumer protection, probate litigation, and zoning appeals. Admitted to the Massachusetts Bar in 1999, she’s also a member of the United States District Court, District of Massachusetts, admitted in 2000. A member of the Boston Bar Association, Molinari is a legal advocate for the Riverside Community Care Human Rights Committee in Dedham, MA.

For more information about PAIR, visit www.pairproject.org.

About the Firm

Founded in 1995, Baker, Braverman & Barbadoro P.C. is a full-service law firm located in Quincy committed to providing every client with personal attention and superior legal service at reasonable rates.

The firm’s attorneys provide legal advice and counsel to individuals, businesses and families throughout Quincy, Braintree, the South Shore and metro Boston areas.  Led by five partners with a combined 100+ years of experience, Baker, Braverman & Barbadoro’s 15 attorneys practice in the following areas: litigation, tax, trust and estate planning, real estate, zoning and land use, corporate law, finance, criminal defense, immigration law, election law, and divorce and family law.  Baker, Braverman & Barbadoro also offers a Speaker’s Bureau on topics of tax, estate planning, small business law and corporate law.

Baker, Braverman & Barbadoro, P.C. is headquartered at 300 Crown Colony Drive, Suite 500 in Quincy, MA.  For more information, contact (781) 848-9610 or visit their website at http://www.bbb-lawfirm.com.

Baker, Braverman & Barbadoro P.C. Attorney Susan Molinari completes PAIR trainingRead More

Category: Client NewsTag: Quincy lawyer

AdamsComm, Inc. offers weather cancellation solutions

February 26, 2015 //  by admin

photo of John Adams, president of Adams Communications
John Adams, president of Adams Communications

CARVER, MA…

Over the past four weeks, practically every organization in the greater Boston area has had to cancel or delay work, school, service, etc. For many, that’s meant either checking the local news, a company or school website, or waiting/sending text messages. AdamsComm, Inc., providers of sophisticated and easy to use IP telephone systems, has recently experienced a number of clients incorporating cancellation notices into their communications systems.

“There are certainly more efficient ways than having one employee calling everyone or waiting all the way through the alphabet for your organization to be listed or not listed on the local news,” said John Adams, president of AdamsComm, Inc. “Most modern telephone systems have the capabilities to set up a dedicated weather/cancellation line. Most companies just don’t know it.”

For both private companies and public agencies, Adams recommends setting up a weather mode of operation and a special phantom extension specifically for cancellations and delays. This extension can be accessed by calling the company auto-attendant or a dedicated telephone number.

“What these alternatives do is put the onus on the employee to call in for information rather than have the business owner or HR person calling, e-mailing or texting everyone,” said Adams.

Adds Adams, “Usually these options don’t require an investment in new hardware and enable users to provide information regarding cancellations, delays or other important messages remotely. If your company’s phone system doesn’t have this capability, it’s probably time to investigate an upgrade. That’s something that could be determined with a simple phone audit.”

AdamsComm offers customized design, implementation and support of IP telephone systems and applications, voice mail systems, call centers and infrastructure cabling for small-to-mid-sized businesses. The company has provided effective communications solutions to over 500 clients including Mutual Bank, Emerald Physicians and Rising Tide Charter Schools.

Located at 128 Main Street, Suite 11, in Carver, Massachusetts, AdamsComm, Inc. serves clients on the South Shore, Cape Cod, Greater Boston, and Metrowest. In addition to 24/7 on-call service, Adams can be onsite, as needed, within four hours.

For more information on the new IT division and AdamsComm’s services, you can call 508-866-4086 or visit www.adamscomm.net.

AdamsComm, Inc. Business Communications Solutions

AdamsComm, Inc. draws upon extensive knowledge and experience to provide both small and large businesses with state-of-the-art communication solutions. With more than 20 years of industry experience in solution design, implementation and support, Adams Communications capably assists clients with voice, data and fiber optic cabling as well as with carrier services and on-site staff training. All of the company’s technicians are factory certified, ensuring the highest level of support and service. Adams Communications is an authorized dealer for Allworx and Samsung Telecommunications Systems.

Headquartered at 128 Main Street, Suite 11 Carver, MA. AdamsComm, Inc. is a member of the Plymouth Area Chamber of Commerce and The Better Business Bureau. For more information, visit the website at http://www.adamscomm.net or contact (508) 866-4086.

AdamsComm, Inc. offers weather cancellation solutionsRead More

Category: Client NewsTag: Boston telecommunications

Estate planning with Facebook? New “legacy” feature on Facebook raises questions

February 24, 2015 //  by admin

Elissa Burton, Esq.
Elissa Burton, Esq.

BOSTON, BRAINTREE AND QUINCY, MA…

Facebook has served as a catalyst for school and family reunions; hook-ups and break-ups. With its newest creation, a legacy function, the social media site has, in a small way, entered the arena of estate planning. Or has it?

The new function enables users to name a person as their legacy for when they pass on. The Facebook legacy is empowered to essentially manage the deceased’s account. This can include such things as: writing a post to display at the top of the memorialized Timeline (for example, to announce a memorial service or share a special message); responding to new friend requests from family members and friends who were not yet connected on Facebook; and updating the profile picture and cover photo. The legacy also has the power to take down somebody’s Facebook page after they die.

“By now, we have all known somebody who has a Facebook page or is on some other social media site and has passed away. Facebook’s approach is proactive in that it enables people to essentially nominate a personal representative to manage for their Facebook page to a trusted family member or friend,” said Elissa Burton, an attorney at Baker, Braverman, & Barbadoro, P.C.

While running somebody’s Facebook site may not sound like estate planning, it does present significant responsibility to the legacy. Particularly when you consider that many Facebook users have been posting notes, images and videos to the site for five to 10 years.

“The legacy contact function raises some potentially intriguing scenarios for those who have created a will and/or have done some estate planning,” said Burton. “Does the designated legacy contact have superior authority over the decedent’s Facebook page than a personal representative named in the decedent’s will? It’s an interesting question.”

Burton adds, ““It is important for individuals to be aware that designating a legacy contact for your Facebook page does not equate to nominating a personal representative for your estate and is not a substitute for proper estate planning.”

Social media policies and issues are one topic Baker, Braverman & Barbadoro, P.C. attorneys cover in their Lunch ‘n Learn speaker sessions. Other small business topics they cover include: Legal Do’s and Don’ts for Start-ups; Family Business: Passing it on to the Next Generation; How to Avoid Employee Wrongful Termination Claims; Protecting Intellectual Property; Common Mistakes When Naming a Business; Does My Business Need an Attorney (the answer will surprise you); Sole Proprietor? LLC? C-Corp? How to Choose; Complex Business Litigation; Personal Injury Law; Real Estate Litigation; and more.

To arrange for a Baker, Braverman & Barbadoro, P.C. attorney for a Lunch ‘n Learn session or to speak at your upcoming event, you can contact Paul Barbadoro at 781-848-9610 or by e-mail at BBBinfo@bbb-lawfirm.com with the word “Speaker” in the subject line.

About the Firm

Founded in 1995, Baker, Braverman & Barbadoro P.C. is a full-service law firm located in Quincy committed to providing every client with personal attention and superior legal service at reasonable rates.

The firm’s attorneys provide legal advice and counsel to individuals, businesses and families throughout Quincy, Braintree, the South Shore and metro Boston areas.  Led by five partners with a combined 100+ years of experience, Baker, Braverman & Barbadoro’s 15 attorneys practice in the following areas: complex business litigation, personal injury law, real estate litigation, tax, trust and estate planning, real estate, zoning and land use, corporate law, finance, criminal defense, immigration law, election law, and divorce and family law.  Baker, Braverman & Barbadoro also offers a Speaker’s Bureau on topics of tax, estate planning, small business law and corporate law.

Baker, Braverman & Barbadoro, P.C. is headquartered at 300 Crown Colony Drive, Suite 500 in Quincy, MA.  For more information, contact 781-848-9610 or visit their website at http://www.bbb-lawfirm.com.

Estate planning with Facebook? New “legacy” feature on Facebook raises questionsRead More

Category: Client NewsTag: boston lawyer, Quincy lawyer

Edgewood LifeCare Community’s Clothing Drive Benefits Lazarus House Ministries of Lawrence

February 24, 2015 //  by admin

Edgewood LifeCare Community residents collect clothing donations for Lazarus House Ministries
Edgewood LifeCare Community residents collect clothing donations for Lazarus House Ministries

Edgewood LifeCare Community, an award-winning, non-profit independent living LifeCare community in North Andover, MA recently held a clothing drive among residents and staff. 30 bags and 10 boxes of men, women’s, and children’s clothing have been donated to the Lazarus House Ministries of Lawrence, MA.

The clothing drive was the largest that Edgewood has ever held.

Lazarus House Ministries is a non-profit organization that provides hot meals, temporary shelter, education, job training, child care, emergency food, clothing, outreach and advocacy to those in need. They are recognized as a “Four Star Charity” by Charity Navigator.

The Edgewood Difference

Founded in 1997, Edgewood LifeCare Community is an award-winning, non-profit community focused on enriching the lives of their members. Edgewood offers independent living, health care and support services, which empower members to be the architects of their own well-being.

Edgewood is dedicated to providing a well-rounded, intellectually stimulating and physically active environment for older adults. Members can enjoy a wide range of unique lectures, classes and films through the on-site Edgewood LifeLong Learning (ELL) Program. Edgewood’s 80 acres bordered by conservation land and Lake Cochichewick, offer abundant fitness and recreation opportunities.

As the only LifeCare community in the Merrimack Valley, Edgewood offers refined apartment and cottage independent living for active older adults as well as short term rehabilitation and long term care at the Meadows Health Center. Edgewood LifeCare Community boasts lower entrance fees as compared to the Greater Boston area, and monthly rates for services remain stable regardless of the level of care needed. Edgewood LifeCare Community is located at 575 Osgood Street in North Andover, MA. For more information, contact (978) 738-6145 or visit http://www.edgewoodrc.com.

Edgewood LifeCare Community’s Clothing Drive Benefits Lazarus House Ministries of LawrenceRead More

Category: Client NewsTag: active older adults, classes, Edgewood LifeCare Community, Edgewood Lifelong Learning, ELL, independent living community, lectures, LifeCare Community, Marlene Rotering, North Andover, retirement

Considering the Geothermal Solution? Kevin Conrad Heating & Cooling Alerts Homeowners of Tax Credit

February 24, 2015 //  by admin

KCHC_Classic_WEB_Blue copyNantucket Islanders who have been considering a geothermal heating and cooling solution may want to act soon to take advantage of a Federal Tax Credit on geothermal heat pumps that is available through 2016.

Kevin Conrad Heating & Cooling, the premier, certified geothermal heating and cooling system expert installer on Nantucket, advises owners of existing homes and new construction of a 30 percent tax credit related to qualifying ENERGY STAR geothermal heat pumps.

A geothermal heating system takes advantage of the earth’s consistent temperature by way of geothermal heat pumps, which collect energy from the earth and move it to the home via electricity. During the summer, a geothermal system exchanges the heat in the home with the cooler ground, making it up to three times more efficient than standard air conditioning. There are no emissions – carbon dioxide, carbon monoxide or hydrocarbon emissions – with a geothermal heating and cooling system.

“A geothermal heating and cooling system is environmentally responsible, extremely efficient and significantly less expensive than conventional heating and cooling systems. Geothermal provides higher levels of comfort year-round and lower utility and energy bills,” said Kevin Conrad, owner.

Homeowners must meet ENERGY STAR program requirements. Geothermal heat pumps qualify for a tax credit that is 30 percent of the cost, which includes installation costs.

Conrad continued, “Homeowners who had a geothermal system installed in 2014 should consider this residential energy credit when filing their taxes.”

Homeowners who are interested in converting to, or installing a new geothermal system are encouraged to contact Kevin Conrad Heating & Cooling with questions or to request an estimate 508-228-6211.

To learn more about the geothermal heat pump tax credit, visit www.energystar.gov.

High Quality Equipment and Expert Installation

Kevin Conrad Heating & Cooling designs each system for a home or business using special software and computers.  The geothermal HVAC equipment manufacturers that Kevin Conrad Heating & Cooling use are the best available, to ensure that the system will provide low impact comfort for many trouble free years.

About Kevin Conrad Heating & Cooling

Kevin Conrad Heating & Cooling has been serving Nantucket residents and businesses since 2004.  A fully licensed, insured and certified HVAC contractor as well as island sheet metal instructor, Kevin Conrad Heating & Cooling is recognized by the Better Business Bureau (BBB) and Dun & Bradstreet (D&B). They are members of the Nantucket Island Chamber of Commerce and the U.S. Green Building Council (USGBC).

Kevin Conrad Heating & Cooling provides equipment, installation and service for air conditioning, gas boilers, humidification systems, heat pumps, geothermal heating & cooling and ventilation systems. The company also provides self-learning thermostats and custom sheet metal fabrication.

Renowned for their expertise, high quality products and world-class customer service, Kevin Conrad Heating & Cooling is trusted by many islanders and numerous businesses. They service and install the largest and smallest systems on the island. The company’s founder, Kevin Conrad, was born and raised on Nantucket and understands the unique needs of customers living 30 miles off the mainland. For more information, visit the website at www.conradhvac.com.

Considering the Geothermal Solution? Kevin Conrad Heating & Cooling Alerts Homeowners of Tax CreditRead More

Category: Client NewsTag: air conditioning, Cape Cod, Conrad HVAC, cooling, Equipment, Federal tax credit, geothermal heating, geothermal solutions, heat pumps, installation, Kevin Conrad, Kevin Conrad Heating & Cooling, Nantucket, Nantucket island, oil and gas boilers, service

Sweet new dry cleaner. Lapels Dry Cleaning coming to Tupelo, MS

February 24, 2015 //  by admin

Martin and Leah Richardson, owners of the new Lapels Dry Cleaning of Tupelo, MS
Martin and Leah Richardson, owners of the new Lapels Dry Cleaning of Tupelo, MS

TUPELO, MS and HANOVER, MA…

Lapels Dry Cleaning, an innovative, environmentally friendly dry cleaning company headquartered in Hanover, Massachusetts, will open a plant at 367 North Gloster Street in Tupelo, MS. An April 25 opening is planned.

“We are delighted to bring Lapels’ standard of high quality dry cleaning and superior customer service to Tupelo,” said Leah Richardson, who along with her husband Martin, own and operate Lapels Dry Cleaning of Tupelo. “Lapels Dry Cleaning has been very well received at the other Mississippi location in New Albany and we’re confident of a similar result here in Tupelo.”

Lapels has pioneered its eco-friendly dry cleaning experience over the past dozen years. Part of that effort includes a partnership agreement with GreenEarth®, the dry cleaning industry’s only non-toxic cleaning alternative for its newer locations like Lapels Dry Cleaning of Tupelo. Using these kinds of solutions and the latest technology in equipment, Lapels is one of the few dry cleaners able to boast that there is no hazardous waste in their process. Their environmentally-friendly cleaning process has no odor and is gentler on clothes, thus lengthening the life of clothes.

Lapels Dry Cleaning also sets itself apart with its customer service. Lapels customers are greeted to a warm and inviting reception area, with friendly customer service representatives, and alteration services.

Lapels offers it’s customers Automatic Rewards earning them credit towards free dry cleaning for every dollar they spend, Loyalty Programs, a VIP Program which eliminates the need to wait in line, the use of a 24 Hour Drop Off Service and FREE Home Delivery to all its customers. Same day service is also available with pick-up after 5 pm.

Hours for the new Lapels Dry Cleaning of Tupelo plant will be Monday through Friday, 7 am to 7 pm; Saturday 8 am to 5 pm; and Sunday, 12 pm to 3 pm. The grand opening for the new Lapels will be held on May 30, 2015.

For complete information on Lapels Dry Cleaning, please visit www.mylapels.com.

Lapels Dry Cleaning – Environmentally Friendly Cleaners
Each Lapels Dry Cleaning store offers a full slate of services, including: same-day dry cleaning; shirt service; tailoring; shoe repair; wedding gown preservation; suede and leather processing; box storage and fur storage. Lapels Dry Cleaning has stores in Arizona (Gilbert, Chandler, Scottsdale), California (Poway), Colorado (Littleton), Connecticut (Cromwell), Florida (Fleming Island, Orange Park) Louisiana (Monroe, West Monroe, Delhi, Rayville, Winnsboro), Massachusetts (Abington, Allston, Bedford, Boston, Brighton, Cambridge, Cohasset, Dedham, Easton, Framingham, Franklin, Hanover, Hingham, Marshfield, Natick, Needham, Newtonville, Norton, Quincy, Walpole, Westford, Westwood and Wilmington), Mississippi (New Albany), Missouri (Wildwood), New Jersey (Brick, Freehold), Ohio (Liberty Township), Oklahoma (Oklahoma City), Pennsylvania (Bloomsburg), Rhode Island (Lincoln); South Carolina (Myrtle Beach, Pawleys Island, Surfside Beach), Texas (Austin, Bee Cave, Brownsville, Cedar Park). Additional locations are coming soon to Jacksonville, Fleming Island, Tampa and Orange Park, FL, Boston Seaport, Martha’s Vineyard and Waltham, MA, Scottsdale and Yuma, AZ, Oxford and Tupelo, MS.

Lapels Dry Cleaning has been ranked in Entrepreneur’s 26th Annual “Franchise 500” as well as Entrepreneur’s “Top 50 New Franchises,” identifying Lapels Dry Cleaning as one of today’s top franchise opportunities. Entrepreneur’s “Franchise 500” is the best and most comprehensive rating of franchises in the world and is based on objective, quantifiable measures of a franchise operation.

Lapels Dry Cleaning corporate offices are located at 962 Washington Street, Hanover, MA 02339.

To learn more about franchise opportunities with Lapels Dry Cleaning, call toll free (866) 695-2735 or email sales@lapelsdrycleaning.com. Additional information and up-to-date company news can also be found on the company’s Web site, www.lapelsdrycleaning.com.

Sweet new dry cleaner. Lapels Dry Cleaning coming to Tupelo, MSRead More

Category: Client News, Franchise NewsTag: dry cleaning franchise opportunity

Rodman & Rodman Appoints Jeff Biesadecki, CPA as Tax Supervisor

February 23, 2015 //  by admin

Jeff Biesadecki, CPA
Jeff Biesadecki, CPA

Rodman & Rodman, P.C. a full service CPA firm based in Newton, MA serving small and medium-sized companies, has recently named Jeff Biesadecki, a Certified Public Accountant, as Tax Supervisor.

In his new role, Mr. Biesadecki will oversee the accounting staff who are responsible for tax preparation and tax planning for individuals and entities.

Prior to Rodman & Rodman, Mr. Biesadecki was a Senior Tax Accountant at Newburg & Company in Waltham, MA. For two years previous to that, he was a Tax Accountant at McSoley McCoy & Company in South Burlington, VT, where he is licensed and is a member of the Vermont Society of Certified Public Accountants (VTCPA).

Mr. Biesadecki holds a Bachelor of Science in Accounting from the University of Rhode Island. He is currently pursuing a Master’s degree in Taxation at Bentley University in Waltham, MA.

A native of Seymour, CT, Mr. Biesadecki resides in Stow, MA.

Rodman & Rodman has been honored as one of 2014 Accounting Today’s Best Accounting Firms to Work for. It is the fourth year that the firm received this distinction.

About Rodman & Rodman P.C.

Founded in 1961 and listed in the Boston Business Journal’s “Top 50 Firms,” Rodman & Rodman, P.C. provides accounting, tax and business services to small and medium-sized companies. The Rodman & Rodman “Green Team” is a specialized green energy and clean technology accounting and tax services practice within Rodman & Rodman, P.C. that serves renewable energy clients throughout the U.S.  The company is Green Business Certified. For more information, email info@rodmancpa.com, visit their website at www.rodmancpa.com or contact (617) 965-5959.

Rodman & Rodman Appoints Jeff Biesadecki, CPA as Tax SupervisorRead More

Category: Client NewsTag: accountant, accounting, Advanced QuickBooks Pro Advisers, Boston, Boston Business Journal's "Top 50 Firms", business services, Cleantech, CPA, green team, Newton, QuickBooks Online, renewable energy, Rodman, tax

How to reduce the biggest tax bill of your life

February 23, 2015 //  by admin

Paul Dion PHOTOMILLBURY, MA and NEWPORT, RI…

Selling your home or business represents two of the largest monetary transactions most people will be a part of. It also represents their largest capital gains bill they will ever pay as well. Or will it?

“The top rate on capital gains is up to 20 percent; the new “net investment income tax” is 3.8 percent, and state taxes can eat up 13.3 percent more. Depending on where you live, that means the government confiscates up to a third or more of your hard-earned gain,” said Paul Dion, a CPA with offices in Millbury, MA and Newport, RI. “Charitable trusts avoid tax on that gain, but that means giving away the principal or the income from the proceeds. Section 1031 exchanges defer tax on real estate gains, but that forces you to re-invest the proceeds into a ‘like-kind’ property and impose tight deadlines for identifying and closing on a replacement.”

Dion recommends a little-known strategy to cut the effective cost of selling your asset valued at $500,000 or more to as little as 6.5 percent. It’s a monetized installment sale, and it uses a third- party dealer in capital assets to defer receiving sale proceeds (and the tax on those proceeds) for up to 30 years. It’s based on tax code rules dating back to 1913 and supported by a 2012 IRS memorandum.

While deferring tax is great, how does that help you if you want the proceeds from your sale now?  With this strategy, a third-party financial institution can lend you a non-taxable amount equal to 95 percent of the sale price (93.5 percent after loan-related costs). You can re-invest those proceeds or spend them however you like.

At the end of the installment period, the dealer will pay you the agreed selling price that will provide you the money to repay the loan, and you’ll pay the tax with significantly discounted dollars.

“The beauty of this strategy is that it offers significant estate-tax advantages,” said Dion.

How? The seller transfers the asset to the dealer in exchange for lump sum payment of the purchase price payable in 30 years. The dealer simultaneously transfers asset to the buyer in exchange for agreed-upon price. Then, the third-party lender extends nontaxable cash equal to 93.5 percent of sale amount to seller. After 30 years, the dealer pays the agreed sale price, the seller uses that money to repay the loan, and the seller pays tax with discounted dollars.

Adds Dion, “While this strategy may seem fairly straightforward, for most if will require the assistance of a tax professional.”

For more information on this strategy, please contact Paul Dion CPA at (508) 853-3292. You can also visit www.pauldioncpa.com.

ABOUT PAUL DION, CPA

Beyond simple “bean counting”, Paul Dion, CPA and associates work side by side and speak in common English to help clients fully understand their tax situation and take proactive steps to pay the least amount of tax legally allowed while minimizing the risk of an audit.  Clients save money and sleep well as night.

Business services include small business accounting, payroll, cash flow management, strategic business planning, new business formation, internet controls, QuickBooks, part-time CFO, bank financing, succession planning and non-profit organization direction.

For more information or a complimentary consultation, please visit www.PaulDionCPA.com or contact Paul Dion CPA, via Info@PaulDionCPA.com or (508) 853-3292 in Massachusetts; 401-490-3193 in Rhode Island.  Offices are conveniently located at 22 West Street, #6, (Felter’s Mill), Millbury, MA  01527 and 580 Thames Street, Newport, Rhode Island.

How to reduce the biggest tax bill of your lifeRead More

Category: Client NewsTag: newport accountant, Worcester accountant

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  • LEARN Behavioral Opens Doors of New Autism Learning Center in Riverside, CA. No Waitlist and Flexible Hours for Riverside County Families
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