New Care Management Services Billing Guidelines for Health Centers
AAFCPAs would like to make Federal Qualified Health Center (FQHC) clients aware that effective January 1, 2018, there are new billing guidelines for care management services. Care management services include the following four services: Transitional Care Management (TCM) Chronic Care Management (CCM) General Behavioral Health Integration (BHI) Psychiatric Collaborative Care Model (CoCM) FQHCs may be […]
AAFCPAs’ Carla McCall Provides One-on-One Coaching for BBJ’s Mentoring Monday
AAFCPAs’ Co-Managing Partner Carla McCall, CPA, CGMA will volunteer her time, and share advice as a professional Mentor for Bizwomen Mentoring Monday, February 12th at the Boston Park Plaza, Boston, MA. The annual, national event is organized locally by the Boston Business Journal, and will take place in 43 Business Journal markets on the same […]
AAFCPAs Provides Guidance on Business Tax Provisions in the Tax Cuts and Jobs Act
On Friday, December 22, 2017, President Trump signed the Tax Cuts and Jobs Act (H.R. 1) (the “TCJA”). The TCJA represents a dramatic overhaul of the U.S. tax code, and the final legislation is lengthy and complex. AAFCPAs’ Tax Practice provides an overview of the major provisions affecting commercial businesses. Change in Tax Rates Starting […]
Congress Passes Another Two-Year Suspension of the Medical Device Excise Tax
AAFCPAs would like to make clients aware that the Medical Device Excise Tax (“MDET”) has once again been suspended for 2018 and 2019, retroactive to January 1, 2018. MDET is a 2.3% tax on medical devices, enacted effective January 1, 2013. The tax applied to manufacturers and importers of certain medical devices, as defined by […]
Financial and Estate Planning Opportunities Related to the New Tax Law
The Tax Cuts and Jobs Act (“The Act”) reflects a widespread change not seen in over 30 years. The architects of the legislation hoped this tax overhaul would allow a simplification of the US tax code. Unfortunately, what is clear since the bill’s signing is the additional complexity, and most provisions have taken effect immediately […]
Tax Act Eliminates or Curtails Business Expense Deductions for Entertainment, Commuting Benefits, and Meals
AAFCPAs would like to make clients aware that the Tax Cuts and Jobs Act (“the Act”) has either eliminated or curtailed business expense deductions for most entertainment, meals, and commuting benefits starting in 2018. Entertainment expenses Deductions for entertainment expenses that were directly related to, or associated with the active conduct of the trade or […]
Amazon to Release Vendors’ Names, Per Order of Massachusetts DOR
When purchasing items from Amazon, buyers may see a designation of “Sold by Amazon,” or “Sold by XYZ Co and Fulfilled by Amazon,” without paying significant attention to the difference. For vendors, the distinction is important. Sellers who participate in the Fulfilled by Amazon (“FBA”) program retain ownership of their goods, essentially hiring Amazon to […]
AAFCPAs to Present Educational Webinar on Identifying Form 990 Audit Triggers and Remedying Prior Year Filings
AAFCPAs’ Jeanie Gorlovsky-Schepp presented an educational workshop on Tuesday, January 30th titled: “Correcting Common Form 990 Errors: Penalty Abatements, Fixing Prohibited Transactions, and Reconciling Related Organization Transaction Errors.” This session is part of the Strafford Live Webinar series. Jeanie joins a panel providing nonprofit and exempt organizations with practical guidance to identify, avoid, and correct […]
Sweeping Changes Come to Tax Exempt Organizations Under the New Tax Bill
AAFCPAs would like to make Tax Exempt Organizations aware that the Tax Cuts and Jobs Act, known officially as H.R. 1, (the “Act”) has enacted widespread changes to the tax rules affecting charitable nonprofits. AAFCPAs has outlined four changes that are especially noteworthy: There is now a 21% excise tax on executive compensation exceeding $1 […]