Blog
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Two Tax-friendly Vehicles for Charitable Giving
Since the IRS nearly doubled its standard deduction in 2017, a large number of taxpayers no longer itemize and, therefore, do not receive the associated deduction for charitable contributions on their tax return. But taxpayers may still garner a tax benefit from charitable giving with a little creativity. AAFCPAs and AAF Wealth Management advise that […]
Unlocking Automation Success: Building a Robust Case for RPA Through a Strategic Rubric
Consider how many business processes require little to no critical thought. Think high volume manual data entry, paper forms processing, patient registration, website scraping, policy administration or servicing, benefits administration, data cleansing, and system or application testing. Not only do these tasks detract from creative and strategic innovation, facetime, and critical analysis but the monotony […]
3.2% Cost-of-living Adjustment in 2024
The Social Security Administration recently announced a 3.2 percent cost-of-living adjustment (COLA) for 2024. While this is higher than its 2.6 percent average annual increase over the past two decades, it is down from an 8.75 percent increase in 2023, which marked the largest in 42 years. This increase is slated to affect 66 million […]
AAFCPAs Celebrates GivingTuesday 2023
Boston, MA (November 3, 2023) — AAFCPAs, a preeminent 300+ employee CPA and consulting firm specializing in tax, assurance, accounting, wealth management, business process and IT advisory solutions, today announced that it will continue its pledge to double employee-directed contributions to nonprofit causes of their choice beginning November 1 through GivingTuesday on November 28, 2023. […]
IRS Launches New ERC Withdrawal Process to Combat Fraud
AAFCPAs would like to make clients aware that the IRS has released details of its special Employee Retention Credit (ERC) withdrawal process. This initiative is designed to assist employers who filed an ERC claim but have concerns about its accuracy due to pressure or misleading advice from ERC marketers or promoters. The new withdrawal option […]
Tax Planning Guide for Businesses & Individuals (2023-2024)
Year-end tax planning is the practice of evaluating your tax situation and trying to minimize your tax liabilities while looking at your overall financial position. It is also an opportune moment to reassess your estimated tax obligations, forecast cash expenses for the filing deadline, and take measures to prevent penalties from underpaying your estimated taxes. […]
How MA Tax Reforms Might Affect High-Net-Worth Individuals Tax Webinars to be Hosted Next Week
Massachusetts lowered taxes for the first time in 20 years, but changes may not be compelling enough to anchor high-net-worth individuals who are looking to leave the state for a more favorable tax environment. While new legislation increases the estate tax exemption to $2,000,000, Massachusetts remains less competitive alongside the 13 other states that offer […]
MassCPAs 2023 Women’s Leadership Summit
On October 26th, 2023, AAFCPAs had the pleasure of celebrating our very own, Courtney McFarland, CPA at the MassCPAs Women’s Leadership Summit! Congratulations to Courtney McFarland, CPA, and alumna Amanda Pelcher, CPA, on their well-deserved honors! We are incredibly proud of both of you!!
Carla McCall Invited to Speak at Professional Women’s Conference
Boston, MA (October 26th, 2023) — AAFCPAs, a preeminent 300+ employee CPA and consulting firm specializing in tax, assurance, accounting, wealth management, business process and IT advisory solutions, is pleased to announce that Carla McCall, CPA, CGMA, Managing Partner has been invited to speak at the North Carolina Association of Certified Public Accountants (NCACPA) Professional […]