Blog
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Forbes 2021 Best Tax & Accounting Firms
Need business advice? Call your CPA firm. “This year was the perfect case study for why companies should consider leaning on their CPAs as key advisors,” says Carla McCall, managing partner with regional powerhouse AAFCPAs in Westborough, Massachusetts.
Technology Insights: How Can Firms Take the Next Step?
Digital transformation has had a powerful impact on all aspects of our lives, both in business and in our day-to-day living. The COVID-19 pandemic has forced many firms into adopting new technology during a difficult and turbulent time. More than ever before, accounting firms need help to navigate digital choices which, at a minimum, will keep the […]
ESSER Funds May Subject Charter School to Federal Single Audit
In response to the COVID-19 pandemic, federal funding has been available to charter schools through the Massachusetts Department of Elementary and Secondary Education (DESE) under the Coronavirus Aid, Relief and Economic Security (CARES) Act. The most significant of this funding is the Elementary and Secondary School Emergency Relief (ESSER) funds. While these funds are and […]
Carla McCall & Bob Rivers: FEI-Boston Fireside Chat
AAFCPAs Managing Partner Carla McCall, CPA, CGMA will host FEI Boston’s “A Closer Look” featuring Bob Rivers, CEO of Eastern Bank. Bob has been a long-time, widely respected advocate in the Boston business community on behalf of social justice and sustainability causes and an instrumental force in taking America’s oldest and largest mutual savings bank […]
Nonprofit Executive Power Hour
AAFCPAs Partner Katie Belanger, CPA will offer her expertise in an educational webcast for nonprofit executives on December 8th to share ideas, thoughts, and cautions around a spectrum of administrative functions, including finance, technology, compliance, risk, insurance, and culture. Nonprofit executives have never faced as many challenges as they are right now, and their ability […]
With gratitude, from our homes to yours…
Happy Thanksgiving from all of us at AAFCPAs! As this extraordinary year 2020 comes to a close, we take a moment to recognize the people in our lives for whom we are everlastingly grateful. Please enjoy this family video montage, with gratitude, from our homes to yours… “At times, our own light goes out and […]
Biggest Accounting Mistakes Start-Up Cannabis Entrepreneurs Make
The Green Rush is upon us, but the path to a successful cannabis business is not a smooth and easy one to navigate. AAFCPAs has been deeply immersed in serving cannabis businesses since 2012 with Advisory, Tax, Accounting & Assurance Solutions. We were the first full-service CPA and Consulting firm to represent Massachusetts cannabis companies, […]
IRS Proposes LIHTC Average Income Test Regulations
On October 30, 2020 the IRS published a proposed rule for the low-income housing tax credit (LIHTC) average income (AI) test regulations. The proposed rule provides that if a project has multiple over-income units, it would not need to meet the next-available-unit rule in any particular order. This proposed rule also provides some flexibility in […]
IRS Clarifies the Deductibility of Payments by Partnerships and S Corporations for Certain State and Local Income Taxes
On November 9, 2020, the Internal Revenue Service issued Notice 2020-75 addressing the deductibility of payments by partnerships and S corporations for certain state and local income taxes. Prior to 2018, Section 164(a) allowed individual taxpayers an itemized deduction for state and local income taxes. Although the Tax Cuts & Jobs Act (TCJA) created section […]