Blog
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AAFCPAs Announces Joel Aronson Character Award and 1st Recipient
In recognition of the tremendously positive impact Joel has had over his 45 years of employment as Partner of AAFCPAs and Founder of AAFCPAs Wealth Management, we are honored to announce the Joel Aronson Character Award. This Award and accompanying $1000 gift will be given annually to the AAFCPAs team member who best epitomizes Joel’s […]
Accounting Considerations for Nonprofits with Donor Advised Funds (DAF)
It has been reported recently that charitable giving had its largest decline since the 2008-2009 financial crisis, citing circumstances such as 2018 tax law changes as one reason for the decline. In a blog published in August 2019, AAFCPAs Wealth Management outlined charitable giving strategies donors should consider in order to maintain charitable goals while […]
Membership Organization Revenue Management and Predictive Analytics
With the onset of the Financial Accounting Standards Board’s (FASB) Accounting Standard Update (ASU) 2014-09, Revenue from Contracts with Customers, (ASC Topic 606) membership organizations face a complex accounting exercise when answering: What value are members receiving? The value question proves extremely complex when applying the five-step approach outlined in the new revenue standard—specifically, step […]
Happy Holidays from AAFCPAs!
All of us at AAFCPAs wish you and your family a joyful holiday season and a wonderful new year filled with prosperity and peace! About the Video: AAFCPAs participated again this year in #GivingTuesday, December 3rd, 2019, a global generosity movement! We constructed our Giving Tree wall display in our Westborough office which features individual leaves […]
AAFCPAs’ #GivingTuesday Match Donates Over $22K to Charities
AAFCPAs participated again this year in #GivingTuesday, December 3rd, 2019, a global generosity movement! Collectively, the firm and its 220+ team members donated $22,500 to mission driven nonprofits! What’s our giving story? For #GivingTuesday, AAFCPAs and our company-sponsored Charitable Foundation match employee gifts 1:1 (100%) to any charitable nonprofit 501(c)(3) from November 3 – December […]
How Secure Is Your Physical Office Space?
Data and IT Security goes well beyond cyberspace. The security of your physical office space may also be at risk. A successful physical breach by an outsider could produce unauthorized access to packages, equipment, documents, as well as threats of theft and employee safety. AAFCPAs has outlined for your considerations some best practice recommendations to […]
IRS Provides Tax Inflation Adjustments for Tax Year 2020
AAFCPAs would like to make clients aware that the Internal Revenue Service (IRS) announced tax year 2020 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2019-44 provides details about these annual adjustments. The tax year 2020 adjustments generally are used on tax returns […]
Upstream Trusts May Be Solution to Eliminate Capital Gains
In light of recent increases in limits for federal estate tax exemptions under the Tax Cuts and Job Acts (TCJA), AAFCPAs advises clients to consider the suitability of an Upstream Trust as a strategy for taxpayers who have highly appreciated assets to save money on capital gains tax. Upstream Trusts are a new option that […]
Charter Schools Not Exempt from MA Paid Family and Medical Leave Law
AAFCPAs would like to make charter school clients aware that the Massachusetts Department of Family and Medical Leave recently issued a policy clarification related to certain excluded employers of the new Paid Family and Medical Leave (PFML) law. Municipalities, districts, political subdivisions, and other agencies are excluded from PFML law unless they choose to opt-in. […]