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Coronavirus: Business Impacts and Planning
The Coronavirus pandemic (COVID-19) is impacting our lives and businesses in a way that none of us have experienced before. The global economy is certainly impacted, and businesses and individuals are reacting to an uncharted situation that continues to evolve rapidly. Certainly, health and safety are our primary concerns. Business leaders have been forced to […]
Disaster Assistance Loans for Small Businesses & Nonprofits Impacted by Coronavirus
AAFCPAs would like to make clients aware that the U.S. Small Business Administration (SBA) will offer low-interest federal disaster loans for working capital to Massachusetts small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). SBA Economic Injury Disaster Loan Small businesses, private nonprofit organizations of any size, small agricultural cooperatives and […]
US Treasury Announces 90-Day Delay in Tax Payment Deadline
AAFCPAs would like to make clients aware that the U.S. government announced on Tuesday, March 17, 2020 that certain individuals and corporations may delay their tax payments for 90 days from the April 15 deadline —or until July 15th—due to the coronavirus (COVID-19) pandemic. Individuals may defer up to $1 million in payments for 90 […]
Cancelled Fundraising Events, Written Notice Requirements
On March 10, 2020 MA Governor Charlie Baker declared a state of emergency for the Commonwealth of Massachusetts in response to the spread of the Coronavirus. The Governor’s administration offered guidance to the public to limit or eliminate attendance at large gatherings. As a result, several of AAFCPAs’ nonprofit clients have made the difficult decision […]
Market Update: Coronavirus Impact
On Monday, March 9th, the New York Stock Exchange (NYSE) halted trading via a procedural tool called a circuit breaker. Circuit breakers were implemented to allow for the market to halt the trading of stocks during periods of extreme uncertainty. There are 3 circuit breaker levels that can be triggered: down 7%, down 13%, and […]
Carla McCall of AAFCPAs Proposed for Election to AICPA Board of Directors
AAFCPAs is excited to share that the Nominations Committee of the American Institute of Certified Public Accountants (AICPA) has proposed Carla McCall, CPA, CGMA for election as a member of the Board of Directors for a three-year volunteer term ending in 2023. The Committee is expected to nominate Carla and the other Officers, Board of […]
CHIA Announces Cost Report Due Date for 2019 as May 4, 2020, Regardless of Fiscal Year End
AAFCPAs would like to make our Massachusetts-based Community Health Center (CHC) clients aware that the Center for Health Information and Analysis (CHIA) has just announced it is now collecting cost reports for the fiscal year ending in 2019. All CHCs, regardless of Fiscal Year End date, are required to file their fiscal year 2019 cost […]
Employment Tax Liability Not Shifted to Professional Employer Organizations
AAFCPAs would like to remind cannabis clients using or considering use of a Professional Employer Organization (PEO) that the employment tax liability is most often not shifted from your company, its management and owners, to the PEO. This is a common misconception, so much so, that the Internal Revenue Service issued regulations to help address […]
AAFCPAs’ Carla McCall to Speak at Women Leaders in Finance Event
*The Organizer has cancelled this event as a precaution related to the Coronavirus outbreak. They do plan to reschedule, and AAFCPAs will provide updated information when available. AAFCPAs’ Co-Managing Partner Carla McCall, CPA, CGMA has been asked to serve on a women’s leadership panel presentation organized by the Women’s Bar Association, scheduled for Wednesday, March […]