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Accelerate Deductions and Reduce Tax Liability with Tangible Property Regulations and R&D Tax Credits

Accelerate Deductions and Reduce Tax Liability with Tangible Property Regulations and R&D Tax Credits

It is a little-known fact to most accountants that businesses leave money on the table by 1) paying taxes before they have to, and 2) by not identifying deductions in a timely manner that may be accelerated. At AAFCPAs, we regularly identify opportunities for clients that may yield new avenues for them to qualify for deductions or tax credits where they previously did not. Accelerate Deductions with Tangible Property Regulations The... continue reading

AAFCPAs Participates in 7th Annual MSCPA Day of Service

AAFCPAs Participates in 7th Annual MSCPA Day of Service

AAFCPAs proudly participated in the Massachusetts Society of Certified Public Accountants’ (MSCPA’s) 7th Annual Day of Service on June 15th.  Two teams of AAFCPAs’ staff volunteered with AAFCPAs’ client Massachusetts Society for the Prevention of Cruelty to Animals – Angell Animal Medical Center (MSPCA-Angell) at the organization’s Nevins Farm location, and with Habitat for Humanity MetroWest/Greater Worcester Chapter (HFH MWGW) as an Operation Playhouse sponsor. At Operation Playhouse, AAFCPAs employees honored... continue reading

Strategies to Increase the Value of Your Business In Advance of Selling

The most successful business transfers are the ones that are properly planned in advance. AAFCPAs encourages clients to think proactively in order to get the most out of what is likely your largest and most important asset.  The following strategies may better position your business for a higher price when selling. Have your financial statements audited or reviewed by an independent CPA – Audited or reviewed financial statements provide potential... continue reading

AAFCPAs brings on new Chief Financial Officer, Greg Bielski, to support continued growth

AAFCPAs, a best-in-class accounting firm known for assurance, tax and advisory solutions, recently announced Greg Bielski joined the firm as its Chief Financial Officer (CFO). With over 30 years of comprehensive financial management experience, he served as a CFO and finance executive for entrepreneurial commercial businesses in previous positions. “Greg has demonstrated an ability to deliver exemplary strategic financial guidance over the course of his career,” said Dave McManus, co-managing... continue reading

Best Practices for Complying with HIPAA & Safeguarding Patient PHI Accessible to Your Business Associates

Healthcare is predicted to be the most targeted industry for cyberattacks in 2017, according to the 2017 Data Breach Industry Forecast from Experian.   “Electronic health records remain likely to be a top target for hackers,” Experian found. To further heighten & complicate these risks, providers’ responsibilities for protecting personal health information (PHI) under the Health Insurance Portability and Accountability Act (HIPAA) extend to certain vendors, referred to as “business... continue reading

The Bucket System: Managing Your Assets in the Face of Volatility

The Bucket System: Managing Your Assets in the Face of Volatility

Nonprofit World Magazine – Joel Aronson, wealth advisor, AAFCPAs Wealth Management provides members of the national Society for Nonprofits (subscriber content) with insight into a simple system that is key to financial stability. As a nonprofit leader, you’re no stranger to cash flow crunches. But you can attain a new level of stability if you persevere with a vision of stronger revenue capital management. The key is to look at your... continue reading

OMB Further Extends the Effective Date for the Procurement Standards of the Uniform Guidance

AAFCPAs would like to make clients aware that on May 17, 2017, the U.S. Office of Management and Budget (OMB) issued a correcting amendment extending the effective/applicability date of the procurement standards under the Uniform Guidance (UG). The procurement standards were one of the areas of significant change under the UG, and nonprofits receiving federal grants and contracts may welcome the OMB’s announcement that they have provided for a grace... continue reading

Measures to Protect Against Malicious Ransomware

In the wake of the recent, global WannaCrypt ransomware attack, which crippled thousands of computers in more than 200,000 organizations and 150 countries, AAFCPAs would like to remind clients of the critical importance of taking measures to protect against malicious cyber-attack. What is ransomware and WannaCrypt? Ransomware is a malicious software that locks a device, such as a computer, tablet or smartphone and then demands a ransom to unlock it. ... continue reading

Identifying strategic partnership options for provider organizations navigating reimbursement complexities

Behavioral health is one of many healthcare sectors caught in the midst of uncertainty, as healthcare reform again stands on the cusp of massive changes. With the reimbursement model shifting from fee-for-service to fee-for-value, provider organizations are tasked with understanding those changes, while determining what an episode of care entails. Behavioral health is one of the areas that remains ambiguous. Pricing for behavioral healthcare continually stumps payers, as ongoing care... continue reading