The Danger of Ignoring Purchase Price Allocation

January 25th, 2017
Members of our Business and Corporate Practice Group have seen a number of deals recently where an overreaching buyer to an asset purchase transaction attempts to maintain sole authority to allocate the purchase price. Purchase price allocation has a… Read More
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McLaughlinQuinn LLC Welcomes Two New Associates to the Firm

January 11th, 2017
We are excited to announce the hiring of two new associates – Robert F. Lynch, Jr. and Alexandra F. Miga. Robert is a 2016 graduate of Northeastern University School of Law and received his B.A. from the University of Vermont. Robert is admitte… Read More
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New Year - New Firm Name - New Website

January 2nd, 2017
McLaughlin & Quinn, LLC has a new name: MCLAUGHLINQUINN LLC Moore McLaughlin founded the firm in 2004. Soon thereafter, Tom Quinn became a partner and his name was added to our firm’s masthead. Today, we honor Moore’s legacy and Tom&#… Read More
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Higher Installment Agreement Fees Coming in 2017

December 14th, 2016
On November 29, 2016 the IRS issued final regulations increasing the fees for entering into an Installment Agreement. The revised fee schedule goes into effect on January 1, 2017. After January 1, 2017, the increased IRS Installment Agreement fees wi… Read More
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What is Unrelated Debt-Financed Income and how is it taxed?

December 6th, 2016
Whenever debt is used by a tax-deferred or tax-exempt entity (with some exceptions), tax is applied to that portion of the gain that is debt-financed. This income is called unrelated debt financed income or UDFI, which is a subset of UBTI. Taxes on b… Read More
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What are the Unrelated Business Taxable Income (UBTI) consequences of a private placement?

December 6th, 2016
If the enterprise is a pass-through entity (a partnership or a limited liability company) which produces or sells goods or provides services, the IRA’s share of the enterprise’s ongoing net income likely will be unrelated business taxable… Read More
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IRS / State Tax Resolution

December 6th, 2016
How do I settle back tax debt that I owe? There are many options available to settle back tax debt that you owe. We can contact the IRS, Rhode Island or Massachusetts tax collectors on your behalf and discuss the best resolution for you. Settlements… Read More
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Information Tax Returns & Backup Withholding Taxes

December 6th, 2016
By: Richard Repose Former IRS Employment Tax Specialist Many businesses fail to review their bank account check registers and accounts payable journal ledgers for service providers and others who require the preparation and filing of a Form 1099-MISC… Read More
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Prohibited transaction rules prevent Self-Directed IRA from purchasing its owner's promissory note

December 6th, 2016
In ERISA Advisory Opinion Letter No. 2011-04A, the Department of Labor’s (DOL’s) Employee Benefits Security Administration (EBSA) has determined that an IRA’s proposed purchase of the IRA owner’s promissory note and a deed of… Read More
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Massachusetts DOR Explains Tax Changes Contained in FY 2015 Budget Act

December 6th, 2016
The Massachusetts Department of Revenue has issued a technical information release (TIR) explaining the changes contained in the Massachusetts Fiscal Year 2015 Budget Act. The TIR discusses the extension of the historic rehabilitation tax credit for… Read More
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