Blog
Our Blog acts as a great resource of topical information for the finance community. Use the search function to find specific topics or browse our categories to benefit from our past shared learnings.
MA Sales Tax Holiday Aug. 12-13, 2023
This year’s Massachusetts sales tax holiday will be held on Saturday, August 12th and Sunday, August 13th, according to the Massachusetts Department of Revenue (DOR). The event provides a two-day reprieve from sales tax on most retail purchases valued at up to $2,500 when made for personal use by individuals. Purchases by businesses or by […]
U.S. Long-term Foreign Currency Debt Rating Downgraded to AA+ by Fitch Ratings
AAF Wealth Management would like to make clients aware that Fitch Ratings announced a downgrade to its U.S. long-term foreign currency debt rating from AAA to AA+ over concerns with a growing U.S. budget deficit and an erosion of U.S. governance relative to comparably rated peers throughout the past two decades, which led to repeated […]
Cyrillic Characters Used in Cyber Attacks
Recent reports show hackers substituting Roman alphabet with Cyrillic alphabet characters to deceive recipients. In their article “Real or Imposter? Everything You Need to Know About ‘Homoglyph’ Phishing”, CISO MAG describes this tactic, known as The Internationalized Domain Name (IDN) homoglyph attack, as “a deception technique that uses homoglyphs or homographs, in which an attacker […]
AAFCPAs Expands Tax Practice to Meet Growing Client Demand
AAFCPAs Welcomes New Tax Advisors Erica Nadeau, CPA, MST, Tax Partner and Traci Grady, EA, Manager Boston, MA (August 1, 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 the expansion of its tax practice to meet growing […]
Securing Your IT Infrastructure & Creating Resiliency
IT infrastructure is the combination of hardware, software, communications, data centers/hosting services, and human resources that allow an organization to deliver information technology services to its constituent communities. IT resiliency refers to an organization’s ability to avoid or minimize business disruption when the IT Infrastructure is challenged by planned or unplanned events. IT resiliency is […]
Meals & Entertainment Deduction Reverts to Pre-TCJA Law
As of January 1, 2023, the meals and entertainment deduction has reverted to previous guidelines under the Tax Cuts and Jobs Act (TCJA). Put differently, the 100 percent deduction for food or beverages provided by a restaurant has officially expired. The IRS advises that a 50 percent limit on meal expenses applies if that expense […]
AAFCPAs Provides Tax and Business Guidance at Cannabis Industry Conferences
AAFCPAs Provides Tax and Business Guidance at Cannabis Industry Conferences AAFCPAs’ Cannabis Practice leaders David McManus, CPA, CGMA and Joshua England, LLM, Esq. have been invited to present at two industry conferences in August 2023. AICPA & CIMA Cannabis Industry Conference David McManus, CPA, CGMA is pleased to present CAN2315, Taxes: Part 1 at the […]
IRS Audit Risk Areas for Nonprofit Retirement Plan Sponsors
During AAFCPAs’ recent Nonprofit Educational Seminar (April 2023), Employee Benefit Plan Practice leaders Davide Villani, CPA, CGMA and Shawn P. Huxley, CPA, MSA updated 400+ CFO and Executive Director attendees on the IRS’ 2023 strategic focus areas for small exempt organizations that sponsor retirement plans. AAFCPAs audits 180+ plans annually including 401(k) and 403(b) plans, […]
AAFCPAs Invited to Speak at Maine Cannabis Convention
AAFCPAs’ Cannabis Practice leaders David McManus, CPA, CGMA and Joshua England, LLM, Esq. have been invited to speak at the Maine Cannabis Convention/Homegrown Trade Show being held at the Augusta Civic Center in Augusta, Maine. The event will take place on Saturday, August 12 and Sunday, August 13, 2023 from 10 AM to 3 PM. […]