Blog
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IRS Deadline to Return RMDs is Aug. 31
AAFCPAs reminds clients who are IRA owners, beneficiaries or workplace retirement plan participants and received a Required Minimum Distribution (RMD) this year that they have until August 31 to rollover or repay the distribution to avoid paying taxes. The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, waives RMDs during 2020 for IRAs […]
AAFCPAs Helps Clients Prepare a 360 Degree Action Plan for Business Continuity
On March 11, the World Health Organization (WHO) declared the novel Coronavirus an official global pandemic. Businesses across the globe experienced interruptions, shortages, and other unexpected challenges that impacted multiple aspects of their organizations. Many continue to struggle to adapt. Some industries, like hospitality, are dealing with acute slowdowns in their operations and revenue. Others, […]
Implementation Tips Specific to Sage Intacct
Implementing a new accounting software application requires significant investments in time, energy, and financial resources. A proper implementation plan is key to maximizing the long-term value of your new system. In a previous blog, AAFCPAs’ Business & IT Consulting practice outlined best practice recommendations to ensure clients get the most out of the new system. […]
Carla McCall Named to National Managing Partner Elite List for 2020
AAFCPAs is honored to announce that Managing Partner Carla McCall, CPA, CGMA was selected for Accounting Today’s national 2020 Managing Partner Elite list. The annual MP Elite list always represents the nation’s most outstanding CPA firm leaders, but this year’s class of managing partners is notable for exemplary leadership amid the extraordinary events and challenges […]
AAFCPAs Celebrates 2020 National Health Center Week
Next week, August 9-15, 2020, is National Health Center Week, and AAFCPAs invites you to join us again this year in celebrating the great work and significant impact of these consumer-driven and patient-centered organizations! This year, our nation’s Community Health Center employees are on the frontlines of COVID-19. Since the pandemic struck, Community Health Centers […]
AAFCPAs Hosts Successful Intern Development Program
The COVID-19 pandemic has offered unique constraints this year, but AAFCPAs remained committed to offer our meaningful internship experience for aspiring accountants. Internships are an important tool for students who use this time to explore interests and help inform their decisions about the future. Additionally, AAFCPAs leverages our internship program to identify and offer full-time […]
IRS Issues Guidance on Deduction for FDII, GILTI
AAFCPAs would like to make clients aware that the IRS and Treasury issued final regulations recently covering the Section 250 deduction for foreign-derived intangible income (FDII) and global intangible low-taxed income (GILTI). FDII and GILTI were introduced to US tax law as part of the 2017 Tax Cuts and Jobs Act and apply to domestic […]
Mitigate Risks Associated With Outsourcing Services
If you outsource services such as payroll processing, loan servicing, data center/co-location/IT Managed Services, Software as a Service (SaaS), or medical claims processing, you rely on the service provider to keep your data secure, maintain confidentiality, integrity of processing, availability of services or systems, and/or privacy. However, AAFCPAs reminds clients that outsourcing may expose your […]
HUD Announces COVID-19 Supplemental Payments for Properties
AAFCPAs would like to make clients aware that the U.S. Department of Housing and Urban Development (HUD) recently announced (in Notice H 20-8) the availability of funds for COVID-19 Supplemental Payments (CSPs) for properties receiving project-based rental assistance under the Section 8, Section 202, or Section 811 Programs. Who is eligible? Property owners who currently […]