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AAFCPAs Promotes Allison Cree to Manager, Supporting Firm Growth
It is with great pleasure that AAFCPAs recognizes the professional skill, tremendous effort, and exceptional character of Allison Cree, CPA, MSA, who has recently been promoted to Manager. Allison has extensive experience providing audit, tax, and advisory solutions to sophisticated nonprofits, including multiservice human & social service providers, behavioral health providers, community health centers, charter […]
5 Tips for Safe Intrafamily Loans
If a relative needs financial help, offering an intrafamily loan may be a viable solution. But if not properly executed, such loans can carry negative tax consequences, such as unexpected taxable income, gift tax, or both. AAFCPAs Outlines Five Tips to Help Avoid Unwelcome Tax Surprises with Intrafamily Loans: Create a Paper Trail. In general, […]
AAFCPAs’ 2021 Nonprofit Educational Seminar
AAFCPAs is excited to announce that registration is now open for our 12th Annual Nonprofit Educational Seminar, scheduled for Wednesday, April 28. As a client and/or friend of AAFCPAs, your registration will be complimentary. We are excited this year to announce we will be hosting this popular event virtually! AAFCPAs’ Annual Nonprofit Educational Seminar is considered by […]
Carla McCall: One of BBJ’s 2021 Mentors for Mentoring Monday
AAFCPAs’ Managing Partner Carla McCall, CPA, CGMA will again volunteer her time, and share advice as a professional Mentor for the Boston Business Journal’s annual Mentoring Monday event, scheduled for February 22nd. The event will take place in 40 Business Journal markets on the same day, with hundreds of women in every market being coached. Sessions will […]
Meet the BBJ’s 2021 Mentors for Mentoring Monday
On Feb. 22, hundreds women plan to gather online and learn from one another at the Boston Business Journal’s annual Mentoring Monday event. The event will take place in 40 Business Journal markets on the same day, with hundreds of women in every market being coached.
Self-Employed Individuals to Claim COVID-19 Sick & Family Leave Tax Credits on IRS Form 7202
AAFCPAs would like to make clients aware that the IRS recently released Form 7202 for eligible self-employed individuals to determine their qualified sick and family leave equivalent tax credits. As a reminder, the Families First Coronavirus Response Act (FFCRA) provides small and midsize companies—as well as self-employed individuals—with refundable tax credits that reimburse them, dollar-for-dollar, […]
Deduction Limit Increased for Corporate Cash Contributions for Disaster Relief; IRS Provides Recordkeeping Relief
AAFCPAs would like to make clients aware that the IRS recently announced how corporations may qualify for the new 100% limit for disaster relief contributions and offered a temporary waiver of the recordkeeping requirement for corporations otherwise qualifying for the increased limit. The Taxpayer Certainty and Disaster Tax Relief Act of 2020 (TCDTRA of 2020), […]
Uniform Data System COVID Reporting
Many health centers have increased virtual visit capabilities during the COVID-19 pandemic. AAFCPAs would like to make Federally Qualified Health Center (FQHC) clients aware that the Health Resources and Services Administration’s Bureau of Primary Health Care (BPHC) recently provided updated guidance on the Uniform Data System (UDS) reporting framework in response to the COVID-19 pandemic. […]
Relaxed Limit on Business Interest Deductions
AAFCPAs would like to remind clients that the Coronavirus Aid, Relief, and Economic Security (CARES) Act temporarily relaxes the limitation on deductions for business interest expense in an effort to provide tax relief to businesses suffering during the COVID-19 pandemic. TCJA Created New Limitation Before the Tax Cuts and Jobs Act (TCJA), some corporations were […]