Why Compliance Matters for Boston Small Businesses
Staying compliant with IRS and Massachusetts Department of Revenue rules protects your company from penalties, audits, and cash-flow interruptions. Whether you’re a startup or an established SME, proactive compliance builds trust with lenders, investors, and customers.
Core Tax Compliance Requirements
- Payroll Taxes: Deposit federal and state payroll taxes on schedule to avoid late-payment penalties.
- Sales & Use Tax: Register for MA sales tax, collect the correct rate, and file returns monthly or quarterly.
- Estimated Income Tax: Make quarterly estimated payments for pass-through entities and C-Corporations.
- Information Reporting: File Forms 1099-NEC, W-2, and 1095-C by deadlines to contractors and employees.
- Record-Keeping: Retain receipts, bank statements, ledgers, and digital records for at least seven years.
Key Relief Programs & Credits
Paycheck Protection Program (PPP)
Low-interest, forgivable loans for payroll and certain operating expenses. Full forgiveness if you maintain headcount and salary thresholds.
Economic Injury Disaster Loan (EIDL)
Long-term, low-rate financing to cover working capital during declared disasters. Partial advance grant available.
Employee Retention Credit (ERC)
Tax credit for businesses that kept employees on payroll during COVID-19 downturns—even if you received PPP.
Massachusetts Small Business Relief Grant
State-administered grants up to $75,000 for qualifying firms affected by emergencies or economic hardship.
Research & Development (R&D) Credit
Federal and MA credits for qualified research expenses, including software development and process improvements.
Timeline & Typical Fees
| Stage | Timing | Fee Structure |
|---|---|---|
| Compliance Audit | 2–4 weeks | Flat fee |
| Relief Program Qualification | 1–2 weeks | Flat or hourly |
| Application Preparation | 2–6 weeks | Flat + expense reimbursement |
| Forgiveness/Reconciliation | 1–3 months | Hourly |
| Quarterly Compliance Review | Quarterly | Subscription or hourly |
All fees are outlined in a detailed engagement letter. Flexible payment plans available.
Frequently Asked Questions
Q: How do I know which relief program fits my business?
We analyze revenue loss, payroll costs, and industry to match you with optimal programs.
Q: Can I apply for both PPP forgiveness and ERC?
Yes—you can claim ERC on wages not covered by forgiven PPP funds.
Q: What records are required for forgiveness?
Payroll registers, bank statements, rent/mortgage documents, and utility invoices.
Q: When should I amend my sales tax return?
Within three years of the original filing date, or sooner if errors risk penalties.
Q: Are state grants taxable?
Generally yes, but you may deduct related expenses to offset income inclusion.
Q: Can startups with no revenue qualify?
Some programs, like ERC and MA relief grants, consider payroll costs rather than revenue.
Q: How long does forgiveness approval take?
PPP forgiveness decisions typically arrive in 2–5 months after application submission.
Q: Do you file applications directly with the state/federal agencies?
Yes—our team handles all filings, communications, and follow-up to streamline your relief process.