Macpage Newsletter Archive

Year-End Tax Planning Considerations for Businesses

December 13, 2017

The time to consider tax-saving opportunities for your business is before its tax year-end. Some of these opportunities may apply regardless of whether your business is conducted as a sole proprietorship, partnership, limited liability company, S corporation, or regular corporation. Other opportunities may apply only to a particular type of business organization.

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Year-End Tax Planning Considerations for Individuals

December 13, 2017

Individual income taxes, whether paid through employer withholding or quarterly estimates, are probably one of your largest annual expenditures. So, just as you would shop around for the best price for food, clothing, or merchandise, you want to consider opportunities to reduce or defer your annual tax obligation. This Tax Letter is intended to assist you in that effort.

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small business and self employment retirement contributions

Small Business and Self Employment Retirement Contributions

December 13, 2017

A well-known and commonly used practice to reduce, or at least defer, one’s current tax liability is to contribute to retirement plans. For many, this means participating in an employer’s 401(k) plan, or making an annual contribution to an Individual Retirement Account (IRA). For many self-employed individuals and their employees however, a 401(k) plan or IRA may not be an option, or at least not the optimal one for achieving business and financial goals.

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Video Blog: What Should a Partnership or LLC Agreement Look Like?

December 13, 2017

Jim Cardosi, a senior associate in our tax group, gives a brief overview of important topics to consider including when developing a Partnership or LLC Agreement in this weeks video blog. For more information about this topic, please contact Jim Cardosi at jmc@macpage.com, or 207-523-3359.

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House Passes Tax Reform Bill; Senate Finance Committee Considers Bills of its Own

November 28, 2017

On November 9, 2017, the Senate Finance Committee released its version of proposed tax reform legislation, the “Tax Cuts and Jobs Act,” which the Committee is marking up this week. The House of Representatives passed its tax bill on November 16; however, the bill under consideration by the Senate Finance Committee differs in several respects, including individual tax rates, itemized deductions, retaining the estate and GST taxes, the timing of changes to the corporate tax rate, and pass-through tax rates.

On...
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Insights into the Proposed GOP Tax Plan

November 15, 2017

On November 2, 2017, the House of Representatives released a draft tax reform bill titled the “Tax Cuts and Jobs Act.” The bill would reduce individual and business tax rates, would modify or eliminate a variety of itemized deductions as well as repeal the estate and alternative minimum taxes, and would change the taxation of foreign income. The Ways & Means Committee intends to formally markup the bill the week of November 6 with full House floor consideration planned before Thanksgiving. Most of the provisions would be effective starting in 2018.

Under...
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Rosie Gavazova named as one of 2017 MECPA Women to Watch

November 15, 2017

Rosie Gavazova, CPA, manager at Macpage, has been recognized as one of the 2017 MECPA Women to Watch! Join us to celebrate Rosie and the other recipients on November 17th at USM!

2017...
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Get your copy of our Year End Tax Planning Guide

November 15, 2017

Year-end 2017 presents a unique set of challenges for taxpayers. Meanwhile, the usual flood of court decisions and IRS guidance has continued, also presenting new opportunities --and pitfalls--that require year-end action. Check out our 2017 Year End Tax Planning Guide to help you navigate through these confusing changes.

Click...
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Video Blog: What Types of Businesses Qualify for the Research & Development Tax credit?

November 15, 2017

Ben Dailey, CPA, Principal of our Tax group, explains what types of businesses qualify for the Research and Development tax credit in this months Video Blog.

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Thanks for joining us for the opening of Artists in their Studios!

November 15, 2017

In case you missed the fun, check out photos of the reception here!

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House Tax Bill Released

November 7, 2017

On November 2, 2017, the House of Representatives released a draft tax reform bill titled the “Tax Cuts and Jobs Act.” The bill would reduce individual and business tax rates, would modify or eliminate a variety of itemized deductions as well as repeal the estate and alternative minimum taxes, and would change the taxation of foreign income.

The...
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Video Blog: What are the differences between accrual and cash accounting?

October 18, 2017

Tetiana Glebkivska, a member the Macpage Client Accounting Services Group, discusses advantages and disadvantages of the cash basis and accrual accounting methods, to help you make a better decision on which is right for your business.

View...
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Please Join us for a Special Exhibition Opening!

October 25, 2017

Please join us for our next art exhibition opening reception on November 9th, from 5-7pm at the South Portland Macpage office.

Artists...
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Framework for Proposed Tax Reform

October 18, 2017

On September 27, 2017, the Trump Administration, the House Ways & Means Committee, and the Senate Finance Committee released a unified framework “to achieve pro-American, fiscally responsible tax reform.” The White House notes that the September 27 “Framework” is intended to “deliver a 21st century tax code that is built for growth, supports middle-class families, defends our workers, protects our jobs, and puts America first. It will deliver fiscally responsible tax reform by broadening the tax base, closing loopholes, and growing the economy.”

While...
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We Hope to See You at Kids and Claws!

October 18, 2017

Meet the 2017-18 Maine Red Claws at the Portland Expo and celebrate with families, business leaders, and Boys & Girls Club members!

9th...
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hurricane assistance, irs tips, disaster relief, accounting tips

After Hurricane Devastation, IRS Outlines Ways to Assist

October 18, 2017

Hurricanes Harvey and Irma have wreaked havoc on the lives of thousands of Americans, leaving many looking for ways to assist those in need and achieve favorable tax treatment. The IRS has maintained historical guidance and made recent announcements that provide guidance for those looking to assist victims.

By Laura...
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Macpage Recognized at the Best Places to Work Awards

October 11, 2017

Macpage is honored to be included in the 2017 Best Places to Work in Maine! We had a wonderful time at the awards ceremony last night and received our trophy!

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We had a blast at the Portland Boxing Club's networking fundraiser!

October 3, 2017

Check out our photos from the event here!

The...
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Macpage Recipe Book - Grab Your Copy Today!

October 3, 2017

Did you know that Macpage produces an employee cookbook each year?

Our...
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Get Ready for the New Macpage Monthly Newsletter!

September 27, 2017

We would like to extend our sincere appreciation for staying up-to-date with Macpage! In an effort to respect your ever-growing inboxes, this will be our last bi-weekly newsletter, as we move into the new Macpage Monthly.

This...
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Video Blog: What are cash basis and accrual accounting?

September 27, 2017

Tetiana Glebkivska of the client accounting services group explains the nuances between keeping your books in accrual versus cash basis accounting methods in this week’s Video Blog.

What...
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Can we answer any questions for you?

September 27, 2017

Do you have any burning questions you've been meaning to research? Ask us here and we may feature the answer in a future Video Blog!

Check...
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Video Blog: What does it mean when people say it's "In the Cloud"?

September 13, 2017

Nick Norton, newly appointed Principal of our CAS group, explains what exactly it means when people refer to "The Cloud" in this weeks video blog.

What...
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Macpage Named one of the 2017 Best Places to Work in Maine!

August 30, 2017

Macpage LLC has been named one of the 2017 Best Places to Work in Maine. The awards program is designed to identify, recognize and honor the best places of employment in Maine.

This...
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Video Blog: Can I skip a year between SOC exams?

August 30, 2017

Nick Norton, newly appointed Principal of our CAS group, explains why skipping a year between SOC exams might not be a good idea for your company in this weeks Macpage Video Blog.

Can...
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Celeste Roberge, Artist, Maine Artist, Interview, Macpage Art Shows,

2017 Summer Featured Artist: Celeste Roberge

August 16, 2017

Macpage is devoted to improving our community in many ways; one of which is by holding bi-annual fine art exhibitions featuring local Maine artists. Celeste Roberge is a featured artist in our current exhibition: Dreamy & Surreal. Click the link to learn more about Celeste!

Celeste...
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Stay up-to-date with Macpage!

July 19, 2017

Follow us on our social media channels to stay up-to-date on all things happening at Macpage! From promotions, sponsorships and special events to important news, law changes and tips, you will find it all on our LinkedIn, Facebook and YouTube pages!

     
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Video Blog: Can I switch from SOC 1 to SOC 2 exam?

July 19, 2017

Tom Loring, Manager of Macpage's Information Assurance Services team, is here to explain the necessary processes to transition from a SOC 1 to a SOC 2 exam in this week’s Macpage Video Blog.

Can...
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Video Blog: What is the difference between a Type 1 and a Type 2 SOC exam?

July 5, 2017

Nick Norton, manager of Macpage's Information Assurance Services team, is here to explain the differences between a Type 1 and Type 2 SOC exam in this week’s video blog.

What...
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Thanks for Joining us at Dreamy & Surreal!

June 7, 2017

Thanks to everyone who came out for the opening of Dreamy & Surreal last month! We had a blast celebrating the new batch of artists to grace our walls this spring. In case you missed it, we have a video walk through of the exhibition available at the link below, or you can schedule a tour of the show by emailing marketing@macpage.com!

Thanks...
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Video Blog: Who from my organization should be participating in SOC exams?

June 21, 2017

Artur Kuznetsov, Senior Associate of Macpage's Information Assurance Services team discusses which members of your team will need to invest time in the SOC examination process, the answer may surprise you.

Who...
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Video Blog: What is the Difference Between a SOC 1 and a SOC 2 Exam?

June 7, 2017

Nick Norton, MPAc, CISA, Manager of Macpage's Information Assurance Services team explains the difference between a SOC 1 and a SOC 2 exam in this week’s video blog.

What...
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The WannaCry Ransomware Attack: Preventative Steps

June 7, 2017

On Friday, May 12th, over 200,000 machines experienced the WannaCry ransomware attack. Data was held hostage and businesses were delayed. Following the attack, the FBI came out with a list of preventative steps to help organizations keep their data secure and avoid being effected. Arming yourself with these recommendations can help you avoid future attacks and is a great step towards creating a secure environment for your company.

By...
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Parking Lot Announcement

May 16, 2017

Our South Portland office will be undergoing some parking lot construction in early June. Access to our office will be very limited during that week, but we are still open.

  Macpage's...
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Graham Smith Awarded the Highly Coveted Bronze Helmet Trophy at the Rappel for Rippleffect Over the Edge CEO Challenge Event

May 22, 2017

On Friday, May 12, Macpage president, Graham Smith, descended 13 stories down One City Center to benefit Rippleffect, a non profit youth organization.

On...
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Video Blog: My Company has Two Locations, Do We Need Two SOC Exams?

May 24, 2017

Artur Kuznetsov, Senior Associate of Macpage’s Information Assurance Services team is here to talk about how to handle multiple locations on one SOC examination.

My...
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Wire Transfer Fraud

May 10, 2017

Wire transfer fraud continues to be a problem due to fraudsters adapting to the advancing technology and gaining information on credit union safeguards. It is important for Credit Unions to continually monitor and adapt to the threat of wire transfer fraud and to use a variety of controls to defend against it. Read the full article to learn controls that may help you prevent wire transfer fraud.

By...
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Video Blog: Am I ready for a SOC Exam?

May 10, 2017

Nick Norton, MPAc, CISA, Manager of Macpage's Information Assurance Services team discusses the importance of receiving a SOC Readiness Assessment prior to going through the SOC Exam Process.

Am...
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Video Blog: Will a SOC Exam Help Me Grow My Business?

April 26, 2017

Tom Loring, Manager of Macpage's Information Assurance Services team is here to talk about how a SOC exam can help grow your business in this weeks Video Blog.

Will...
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Save the Date! Fine Art Opening

April 12, 2017

Please join us for out 11th Fine Art Exhibition, Dreamy & Surreal! Featuring Celeste Roberge & Emily Barrera. Exhibition Opening Reception is May 18th, 5-7pm; at Macpage LLC in South Portland. Click the link for more information.

Spring...
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Welcome to the First Edition of the Macpage Video Blog Series!

April 12, 2017

Macpage team members will be here every other week to discuss frequently asked questions. Watch this weeks video with Nick Norton, manager of our Information Assurance Services team, as he discusses what exactly the term "The Internet of Things" means.

What...
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AICPA Cybersecurity Examinations Introduce New Opportunities for Organizations

March 29, 2017

Cybersecurity is one of the key national security issues facing the United States government. Cyber attacks continue to threaten the business world and wreak havoc on our personal lives. The design and effectiveness of cybersecurity risk management programs is critically important. Stakeholders seek to understand the cyber risks that face organizations and want proof that organizations are taking action to mitigate such risks.

Cybersecurity...
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Macpage Bowling Team Wins Again!

March 29, 2017

The Macpage bowling team is at it again, winning their 3rd Consecutive Division A bowling title in the Casco Bay Sports League! Congratulations team!

The...
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Save the Date! 11th Fine Art Exhibition Opening

March 15, 2017

Dreamy & Surreal Exhibition Opening Reception, May 18th, 2017, 5-7pm. Click the link for more information. Macpage is committed to improving our local community and supporting the arts and artists in Maine through events such as our biannual fine art exhibition. We do not take a commission on any sold works therefore the artists receives 100% of sale price.

  May...
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New England Pond Hockey Tournament

March 1, 2017

Our employees participate in a variety of sports teams, organizations, and events. Brad Weller, CPA, Principal, participates in the New England Pond Hockey Annual Tournament in Rangeley each February, which draws people from all over the US. Click the link to read more about this fun event.

  Brad...
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Mind of an Artist: Honour Mack, Prominent Maine Painter

February 15, 2017

The walls of Macpage's South Portland office are filled with beautiful artwork produced by talented local artists. As part of our commitment to our community, we host rotating art exhibitions to support the arts and artists in Maine! Click the link to read our interview with Honour Mack, a prominent Maine artist and Painting and Drawing Professor at the Maine College of Art. She is a featured artist in our current exhibition, Transcend, on view until May 15th, 2017.

Honour...
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Macpage Proudly Continues our Sponsorship of the Go Red for Women Luncheon!

February 15, 2017

Macpage will again serve as a sponsor of the Go Red for Women Campaign, held annually by the American Heart Association; which serves to educate the public about the risk of heart disease, the difference of symptoms in men and women, and how to prevent it. Click the link to learn more about this great cause!

February...
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Telecommuting Tax Issues

February 1, 2017

With continuing innovations in communication technology, employees and employers are increasingly recognizing the benefits of employees working remotely and telecommuting. However, the rise in popularity in telecommuting can also result in unexpected state tax issues for both the employer and the employee.

By...
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Macpage Bowling Team Wins the Championship Again!

January 17, 2017
The...
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Your Confidential Information - Safe and Secure

January 18, 2017

Tax season officially starts today, January 20th! We have an important announcement for our clients concerning information security for the upcoming tax season. The following synopsis will direct you to our website for further details and instructions.

File...
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Happy New Year!

January 1, 2017

Happy New Year! We have had an excellent holiday season and we hope you did as well! The holidays are an important time for us at Macpage to give back. Click the link to learn about what we did for the community in 2016.

Macpage's Ralph...
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Fringe Benefits Taxation - Health for S Corporation 2% Shareholders and Employer Provided Auto

December 7, 2016

Andrew Wells, of Macpage gives a general discussion of the tax consequences of employer provided fringe benefits in certain circumstances.

By...
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Portland Boxing Club Boxer Earns Bronze at USA Boxing National Championship

January 4, 2017

Durward Ferland, a Principal at Macpage, is a volunteer at the Portland Boxing Club and mentors Josniel Castro, one of the amateur boxers there. Castro, an elite level welterweight, recently had the opportunity to compete in the USA Boxing National Championships in Kansas City, MO.

Durward...
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New Tax Form Filing Deadlines Beginning in 2017 (Form W-2 and Form 1099-MISC)

November 9, 2016

Beginning in 2017 (for the 2016 year), a new January 31 filing deadline will apply to both Form W-2 and Form 1099-MISC.

New...
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Happy Holidays!

December 21, 2016

From our families to yours, wishing you a very Happy Holiday season! Every year we give back to the community by providing Christmas presents to one local family. Click the link to learn more about our charitable giving.

From...
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Artist Feature: Meg Brown Payson

December 21, 2016

Every few months we feature and interview one artist who has participated in our shows. Our artist feature this month is Meg Brown Payson, a prominent Maine artist and professor at the Maine College of Art. She is a featured artist in our current exhibition, Transcend, on view until May 15th, 2017.

The...
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Wishing You a Happy Thanksgiving

November 22, 2016

Happy Thanksgiving from all of us at Macpage! During the holidays, we at Macpage try to give back to our local community, check out what we have been up to this fall!

 ...
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You're Invited to our 10th Fine Art Exhibition!

October 26, 2016

You are invited to Macpage's 10th Fine Art Exhibition, Transcend, featuring prominent local artists, Honour Mack and Meg Brown Payson, and other artists working with abstraction. Please join us for art, refreshments and to meet the artists. November 17th, 5-7pm. Click the link for more details.

Transcend Opening...
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Kids and Claws Logo

Don't miss the 8th Annual Kids & Claws Dinner!

October 26, 2016

Show support for the Boys and Girls Club of Southern Maine and meet the players from the Maine Red Claws at the 8th Annual Kids & Claws Dinner to be held on November 9th at the Portland Expo! Click the link for more information or to purchase tickets.

Don't...
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Like Us on Facebook and We Will Donate to the United Way!

October 5, 2016

October is Macpage's annual United Way Campaign. As part of this years campaign, Macpage will donate an additional $1 for every new 'Like' we receive on our Facebook page. Please give us a like, and be sure to invite your friends and family to like us as well!

United...
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Featured Artist Erin McGee Ferrell

September 14, 2016

When clients walk through our doors they are greeted by walls of artwork produced by talented artists from across Maine. We host rotating art exhibitions as part of our support of the arts and artists in Maine! Every few months we feature and interview one artist who has participated in our shows. Our featured artist this month is Erin McGee Ferrell, a prominent artist working out of Maine and Philadelphia. She is a featured artist in our current exhibition, Contemporary Landscapes, on view until October 21st, 2016.

Erin...
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Macpage Donates Artworks to Charities

September 14, 2016

Artwork and charity are valued highly at Macpage, and sometimes we like to combine the two!

Macpage...
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Business Equipment Tax Reimbursement and Business Equipment Tax Exemption Programs

September 28, 2016

Macpage's Jim Cardosi provides a general overview of Maine's Business Equipment Tax Exemption (BETE) and Business Equipment Tax Reimbursement (BETR) programs.

Business...
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Start-up Costs Defined for Book (GAAP) vs. Tax, with Examples

September 28, 2016

Mike Santo recently presented at a webinar discussing start-up costs. Most new business owners, or those looking to expand, want to categorize expenses in the most beneficial manner for tax purposes. However, the rules for defining start-up costs can often be confusing. In order to maximize tax savings, it is important to understand the differences between these costs, how they should be accounted for and their tax implications. Read Mike's highlights from his presentation here.

General...
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Maine's Pine Tree Development Zone Credit

August 31, 2016

A summary of Maine's Pine Tree Development Zones program and the related tax incentives. For more information contact our Tax team or visit our tax services webpage, links in article.

By...
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Potential Pitfalls of Debt Issuances and Exchanges

August 3, 2016

This article discusses the potential tax pitfalls involved with debt issuances and exchanges, including those related to debt-attached warrants in a corporate deal context, potential gain or COD income recognition in connection with debt exchanges, and debt/equity concerns in an international context.

Potential...
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Macpage's Durward Ferland Featured in Yahoo! Finance Article

July 20, 2016

According to Durward Ferland, who leads the Information Assurance Services practice at Macpage LLC, "The use of SOC 2 examination reports has greatly expanded and is often used by eHealth Technologies' user entities as part of their third party due diligence activities." Get the link here.

Macpage's...
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Monthly Artist Feature: May 2016, Jeffrey Fitzgerald

May 25, 2016

When clients walk through our doors they are greeted by walls of artwork produced by artists from across Maine. We host rotating art exhibitions as part of our support of the arts and artists in Maine! Every month we will feature one artist who has participated in our shows! Jeffrey Fitzgerald is a prominent Maine artist working out of York. He has participated in multiple Macpage exhibitions, and is a featured artist in our current exhibition, Contemporary Landscapes! On view from May 19th - November 11th, 2016.

Jeffrey...
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You are Invited to Macpages Art Exhibition, Contemporary Landscapes

May 11, 2016

Please join Macpage LLC for an Art Opening Reception on May 19th, 2016 from 5-7pm to enjoy art, refreshments and conversation, and to meet the artists! The contemporary Landscapes theme is inspired by the works of Jeffrey Fitzgerald and Erin McGee Ferrell.

Please...
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Congratulations to Devin Rheaume

April 13, 2016

Despite the busy tax season, Macpage employee Devin Rheaume co-coached the Leading Ladies to championship in Las Vegas, Nevada! Read the full article to learn more of this accomplishment.

Leading...
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Macpage Cookbook: Warm Soup for a Cold Day

March 16, 2016

There are few things in the world more comforting on a blustery day than a hot bowl of hearty soup. What else can so easily evoke that Norman Rockwell-esque ideal of a warm New England home in winter than the smells and sounds which emanate from a slowly simmering pot of well made soup?

By:...
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Join the Maine Red Claws for Alzheimer's Awareness Night!

March 2, 2016

Join the Maine Red Claws on March 11th for Alzheimer's Awareness Night, generously sponsored by Northeast Laboratory Services. Discounted tickets are available with promo code #endalz, proceeds will support the 2016 Maine Walk to End Alzheimer's.

Purchase...
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Macpage employee Wins 2 Gold Medals at the Special Olympics

February 17, 2016

The 47th annual Special Olympics Maine Winter Games were held at Sugarloaf Ski Resort opening on Sunday with a huge community supper in the base lodge on Sunday and ending on Tuesday with a closing ceremony, where awards were announced.

Sophie...
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Seven Cybersecurity Questions

February 3, 2016

Cyber attacks are ranked as the top threat to national security. Organizations need to protect their digital information against theft and misuse. Every organization, regardless of its size and complexity, should be able to answer "Yes" to these seven Cybersecurity questions. A lack of Cybersecurity controls may make your organization more vulnerable to cyber attacks.

 By...
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Macpage serves as Sponsor for Sugarloaf Charity Summit

February 3, 2016

16th Annual Sugarloaf Charity Summit, January 30th, 2016 “Raising a mountain of money to find a cure.”

Macpage...
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Secure & Efficient Electronic Delivery Methods of Confidential Information

January 20, 2016

File sharing portals are quickly becoming a must-have for businesses. Protection of your confidential data is very important to Macpage. Macpage has implemented the highest technical standards by providing two secure methods to share information and tax returns with our clients. Portals provide you with unlimited access to tax returns as well as quickly and easily exchanging working documents with Macpage.

    NetClient...
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Art & Accounting

January 6, 2016

You may not normally associate art with accountants, but Macpage LLC, is working on changing that dynamic. You won't see generic stock art when visiting our office in South Portland, Maine. We are not your typical firm and the usual decor just doesn't fit our personality. When you walk through the doors you are greeted by walls of unique, rotating work, produced by artists from across Maine. These exhibitions, cycling every 6 months, feature many accomplished local artists.

In...
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The PATH Act - What it Means for You

December 23, 2015

The Protecting Americans from Tax Hikes (PATH) Act of 2015 was passed by Congress and signed into law last week. The PATH Act extended, and even made permanent, numerous business and personal income tax incentives that had been allowed to expire at the end of 2014. This article provides a quick summary of some of the highlights of last week's legislation, as they relate to both individuals and business owners.

The...
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Painting Donated to Make a Wish Holiday Auction

December 16, 2015

This year, Macpage LLC, in conjunction with artist and employee Danielle Gerber, donated an oil painting from their current art exhibition entitled, Travel Home & Abroad, to the NH Credit Union League's Holiday Auction, to benefit Make A Wish of New Hampshire. The event took place in Manchester, NH at the Executive Courtyard on Tuesday, December 8th 2015.

This...
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Day One Awards Ralph Hendrix the 2015 Making a Difference Award

December 9, 2015

On November 5th our COO Ralph Hendrix was awarded the 2015 Making a Difference Award from Day One, a partner agency of United Way designed to help at-risk youth. Day One has been working with Maine youth for 42 years; their mission is to dramatically reduce substance abuse and address mental health needs among young people to help them live productive, healthy and rewarding lives.

  On...
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Don't Miss the Opening Exhibition of the Travel Home and Abroad Art Show

October 28, 2015

The art in this exhibition will display captured moments from around the world and close to home: from Italy and Egypt to Portland Harbor. Come take a trip around the world at the opening reception which will feature paintings, mixed media artwork and sculptures. This event is open to the public, so invite your friends!

  The...
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Two Great Events to Support Alzheimer's and Brain Awareness Month!

June 24, 2015

We hope you'll join the Alzheimer's Association, Maine Chapter for two great events during Alzheimer's and Brain Awareness Month!

Two...
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The Anatomy of Embezzlement

March 1, 2015

By Nancy A. Chase, CPA, CFE, CIA

(Note...
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Roles and Responsibilities of the Information Security Officer

February 4, 2015

The role of the Information Security Officer (ISO) varies based on the size and complexity of an organization. It may be a full or part-time position held by an employee having only ISO responsibilities or by an employee having other roles within the organization. Click "Full Article" to learn more.

Written...
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