Wednesday, April 17, 2013
State and federal authorities say they want to give individuals impacted by the bombing more time to file their taxes.
Following the Boston Marathon bombing, two deadlines to file income taxes have been extended for the Boston area. The Massachusetts Department of Revenue has extended the deadline to file income tax returns to April 23, according to the DOR. The extension applies to anybody impacted by the bombing. DOR officials extended the deadline saying they wanted to give anybody impacted by the Boston Marathon bombings more time to file. The original state deadline was Tuesday, April 16. Also, the federal Internal Revenue Service has extended its income tax return filing deadline to July 15, according to its website. The extensions applies to Suffolk County residents, victims, victims’ families, first responders and individuals who live outside of …
Saturday, April 6, 2013
Should the state forge ahead with Gov. Deval Patrick's bold plan to invest now? Or should it follow the Legislature leadership's proposal to address the bottom line before embarking on bigger initiatives?
Massachusetts legislators this week answered Gov. Deval Patrick's ambitious plan to raise $1.9 billion for transportation and education with a $500 million plan of their own, which says the governor is asking for too much, too soon as the Bay State shakes off the effects of the Great Recession. Who's right? Should the state forge ahead in a bold plan to invest now? Or should it cautiously address the bottom line before embarking on bigger initiatives? While Patrick's plan includes funding for both the state transportation system and increased education funding from preschool through college, House and Senate lawmakers eschew new revenue for education, focusing solely on closing the transportation budget gap over the next five years. The …
Wednesday, March 13, 2013
At a recent hearing, State Transportation Secretary Richard Davey outlined some aspects of Gov. Deval Patrick’s 10-year transportation budget plan and included the need for new revenues.
The state transportation secretary this week answered legislators' questions regarding the Green Line Extension, the South Coast Rail project, MBTA infrastructure, maintenance issues and how an ambitious 10-year budget plan will handle all of it. Massachusetts Department of Transportation Secretary and CEO Richard Davey testified before the Joint Committee on Transportation Tuesday morning. He was there to formally present Gov. Deval Patrick’s 21st Century Transportation Plan, which calls for a $13 billion investment over the next decade. The hearing focused on finding new revenue that could be put toward ailing infrastructure and sought after rail projects. “People want more, not less, of our product,” Davey said. “But the current system …
Monday, March 11, 2013
The program also allows users to develop their own plan and see its effects on their tax bill.
In an effort to further promote his proposed $34.8 billlion budget, Gov. Deval Patrick has rolled out an online tool that helps families see the effect his plan would have on their bottom line. The tool was released less than a week after Patrick unveiled 400 online maps showing what each district would receive in transportation and education benefits under his tax plan. "We are proposing meaningful investments in education and transportation, and people want to know what that means for them," Patrick said. "Last week, with the maps, we showed what long-postponed projects would get done in each community. Now, with this tool, we show just what the costs or savings will be for individual households." The program not only lets users enter …
Saturday, December 1, 2012
Massachusetts Democrats in Congress want to avoid cuts in benefits as part of any deal, but proposals such as raising the eligibility age for Medicare are still on the table. What would you do?
As Congress negotiates a deal to avoid the so-called "fiscal cliff" on Jan. 1, Massachusetts' congressional representatives have voiced their opposition to any cuts in benefits such as Social Security, Medicare and Medicaid, the Boston Globe reports. However, there are proposals still on the table that would change those benefit programs, including linking Social Security benefits to a more conservative inflation index that would slightly reduce annual increases, or raising the eligibility age for Medicare from 65 to 67. The Globe reported that while the Bay State's legislators were united against changes to Social Security, there's some wiggle room on Medicare. Rep. Ed Markey opposes raising the Medicare eligibility age; Rep. Michael …
Saturday, September 1, 2012
Despite the setback last legislative session, a restaurant alliance will try again to get the holiday.
Would you be more likely to go out to eat in Charlestown or Boston-proper if the state suspended its meals tax? The Restaurant and Business Alliance thinks so, and is gearing up to try again to get it passed in the State House. Unlike the sales tax holiday, which is offered one weekend out of most summers, the meals tax holiday would benefit workers in Massachusetts since the amount restaurant workers make is usually tied to how many customers come in, according to Vincent A.J. Errichetti, the alliance's spokesman. Both the sales tax and meals tax are 6.25 percent in Massachusetts. "They understand that not only would it help waiters, waitresses and bartenders, but it would help an industry that is really hurting. And it would stay in the…
Thursday, August 30, 2012
You'll recognize some businesses on the list, such as National Grid and NSTAR.
Can you name the company that has the highest tax bill in Boston for $83,628,890? Give up? The answer: Blackstone Real Estate Partners. According to statistics provided by the City of Boston (see attached), the powerhouse real estate company had the highest tax bill for fiscal year 2012. Boston Properties had the second highest tax bill - $67,577,332. But the tax bill comes with an asterisk - that the company purchased the Hancock Tower from Normandy Real Estate in Dec. 2010. The Hancock Tower was reflected in Normandy’s real estate figure last year, as they were listed as the owner of record in the fiscal 2011 assessment, according to the attached memo. The Hancock Tower is in Boston Properties’ real estate figure. And this move lowered…
Thursday, July 26, 2012
Non-profit organizations are not required to pay taxes on their property, but some do so thanks to Boston's Payment in Lieu of Taxes program.
Non-profit organizations like Charlestown's Spaulding Rehabilitation Hospital are not required to pay taxes on their property, but some give financial support to the city through Boston's Payment in Lieu of Taxes program, or PILOT. The second fiscal year of the program ended on June 30, with Boston receiving $19.5 million in payments. But FY 2012 was the first year under new PILOT guidelines created by the City. The guidelines ask for voluntary payments based on organization’s tax-exempt property value. The City asked 45 institutions with property valued at $15 million or more. Organizations are eligible for a "community benefits deduction," calculating institutions efforts to give back to the community through things such as …
Saturday, April 7, 2012
Patch readers from around the Boston area voted on the tax preparers they trust the most, and here are the results.
This week we asked Patch readers from around Greater Boston an important question: Where's the best place to do your taxes? After five days of voting, here are the results: Charlestown H&R Block, 142 Main Street. Malden William C. Nelson, 712 Salem St Medford Quigley Ramio and Company, 0 Governors Ave. Melrose Melrose Accounting & Tax Specialist, 543 Main St., and Hughes and Company, 1 West Foster St. Somerville Paul B. Bain, Jr., 17 College Ave. South End Gordon E. Parry, C.P.A., 509 Columbus Ave Stoneham H & R Block, 212 Main St. Wakefield JMS Tax and Financial Services, 599 North Ave (#9-3)
Friday, April 6, 2012
And we also learn that Bunker Hill Community College offers free tax preparation assistance.
The people have spoken, and the best place to get your taxes prepared at the last minute (according to a majority of our voting readers) is the H&R Block. Peg McGlaughlin, a tax preparer at the H&R Block, said she was pleased to hear the news. “I just want to take this opportunity to thank the people of Charlestown for their support of H&R Block in Charlestown,” McGlaughlin said. “We’re honored for the trust that they’ve been showing in us. This is our fifth year, now.” The local branch of the tax professionals chain captured a commanding 66 percent of the vote. Michael T. Famiglietti CPA finished second, and we also learned that Bunker Hill Community College offers free tax preparation assistance. Next week, we’ll give you a chance to …