Sean Kelly, CPA, MST, MPFP, MSM

Senior Tax Manager

Boston, MA
Focus Areas

Stock Options and Equity Compensation
Tax Planning
Multi-Generational Planning
Estate Planning

Client Specialty

Executives
Business Owners
Professionals
Retirees

Sean is a Senior Tax Manager of The Colony Group specializing in tax planning strategy, as well as preparation of individual, trust, gift, pass-through entity, and foundation tax returns.

Prior to joining The Colony Group, Sean spent over 12 years in public accounting; including 9 years at Kahn, Litwin and Renza and Co.

Sean is a Certified Public Accountant (CPA) and a member of the American Institute of CPAs, the Massachusetts Society of CPAs, and the Boston Estate Planning Council.  He earned a Master of Science in Taxation (MST) and Master Personal Financial Planner (MPFP) designation from Bentley University.  He earned a Bachelor of Science in Accounting as well as a Master of Science in Management (MSM) from Bridgewater State University.

In his spare time, Sean enjoys spending time with his wife and young daughter, learning about and tasting craft beer and golfing.

Published Insights

Should you plan for higher taxes now? Yes, say tax professionals.

With the election just around the corner, we thought it would be helpful to alert you to some of the tax planning ideas we are currently considering for clients. Normally, year-end tax planning is focused on one simple concept: defer income and accelerate deductions. This year, however, the opposite...

The Paycheck Protection Program Flexibility Act – 5 Welcome Revisions

(PPPFA) was signed into law on June 5, 2020 with nearly full bipartisan support.  It provides several important revisions to the Paycheck Protection Program (PPP) summarized below. Expanding the Forgiveness Spending Period Prior to the PPPFA, loan proceeds had to be used within 8 weeks after the loan was...

Low Interest Rates Offer Opportunities To Pass More Wealth to Future Generations

Good news remains elusive these days, but low interest rates may be the good news we need right now. The low rate environment offers several opportunities to pass significant wealth down to multiple generations without eating into the annual gift exclusion or your lifetime gift or GST exemption, while...

Loss of PPP Expense Deductibility Could Mean Higher Taxes Later

If you were fortunate enough to get through the application and received a loan under the Payment Protection Program (PPP), well done!  Unfortunately, the IRS recently issued guidance regarding PPP loans that may take some wind out of your sails. As a refresher, PPP loans must be used 75%...

Loss of PPP Expense Deductibility Could Mean Higher Taxes Later

Will businesses that got PPP loans face higher taxes next year? Sean Kelly of The Colony Group uncovers the double-dip double-cross in his article.

Small Business Loans Replenished with $370 Billion, but You Need to Act Now

Both the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan Emergency Advance (EIDL) have received a combined $370 billion of new funding after the original $349 billion dried up in just 13 days.  If you qualify for one or both loans, but haven’t applied yet, you may be...

What Businesses Need to Know About the CARES Act

The recently enacted Coronavirus Aid, Relief, and Economic Security or CARES Act provided much needed financial relief to millions of individuals and businesses impacted by the near-global economic shutdown. This $2 trillion package contains key provisions in a variety of areas for businesses including paycheck protection, employee retention, and...

Key Components of the CARES Act for Individuals

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was recently enacted into law and many of the provisions of the $2 trillion package may be relevant to you. We compiled this summary along with other guides to provide the information you need to understand the provisions of the...

Retirement Is a Whole New Ballgame Under the SECURE Act

Part of the $1.4 Trillion spending package passed by Congress and signed off by the President, the Setting Every Community Up for Retirement Enhancement (“SECURE”) Act contains several important changes and enhancements to longstanding retirement laws.  Here are some of the highlights. Required Minimum Distributions:  Age 72 The Act...

How Business Owners Could Reap Big Tax Savings

If you are a sole proprietor, a shareholder or member of an S-Corp, Partnership or LLC, including publicly traded partnerships, or if you own rental real estate, you may qualify for new deductions that could mean significant tax savings. The 199A deduction, part of the Tax Cuts and Jobs...