What kids can learn from investing
Kids realize early in life that money has value and can get them things they want. But that doesn’t always mean a child will eventually understand the true value of money and how to grow their savings responsibly. Parents can help set their children on the right path toward financial security by teaching them about […]
New Year New Partners at AAF
Happy New Year from everyone at Alexander Aronson Finning CPAs! The entire firm wishes you and those close to you a happy, healthy, and prosperous 2014! We are very excited to announce that AAF continues to grow with the addition of two Partners to our team. Thomas Muldoon and Jeffrey Mead provide best value audit, […]
2013 Year End Tax Planning Guide & Reminder
AAF is pleased to provide you with detailed tax planning guides that we know you will find helpful in navigating the numerous tax updates taking effect in 2014! If you have not done so already, there is still time to consider tax-saving opportunities. These Tax Guides are organized into sections discussing year-end, as well as […]
2013 Year End Tax Planning Guide & Reminder
AAF is pleased to provide you with detailed tax planning guides that we know you will find helpful in navigating the numerous tax updates taking effect in 2014! If you have not done so already, there is still time to consider tax-saving opportunities. These Tax Guides are organized into sections discussing year-end, as well as […]
Embezzlement scam linked to maintenance contracts
A former mechanic, with authority to approve some maintenance contracts, recently pled guilty to stealing $1.1 million from the Woodruff Arts Center, the Atlanta area’s largest cultural center. He faces a possible prison term of 41 to 51 months. According to prosecutors, the employee used bogus invoices and kickbacks from a vendor to steal from […]
Auditor recommendations can be a treasure trove
Nonprofit leaders typically pay a lot of attention to the auditors’ findings after an annual audit, and correct any “deficiencies” or “weaknesses” in internal controls. But the auditor’s recommendations — formerly the “management letter” — provided in the report also can provide a gold mine of information. Segregation of duties Better segregation of staff duties […]
IRS Modifies Use-It-Or-Lose-It Rule For Employee Medical Flexible Spending Accounts
On Thursday, October 31, 2013, the Internal Revenue Service issued Notice 2013-71, relaxing the longstanding “use-it-or-lose-it” rule for employee medical flexible spending accounts (“FSAs”). In addition, for the first time the Notice allows employees to carry forward up to $500 of unused salary reduction amounts to a subsequent cafeteria plan year. The carryover option is […]
Watch out for letters from the IRS if you have a 457(b) plan
The IRS plans to send letters out over the next year to seek compliance information about 457(b) plans sponsored by nonprofits. Nonresponse to these letters may be inviting an audit by the IRS. 457(b) plans are often referred to as “top hats” due to the fact that they may only be offered to high-wage earners, […]
AAF Named Top Place to Work by Boston Globe 2013
Happy CPAs make happy clients! Alexander Aronson Finning CPAs has been named a Top Place to work by the Boston Globe for the fourth year in a row. AAF was ranked number nine on the list, and was the only public accounting firm to receive an award. The top notch talent we hire and retain […]