Department of Revenue Requirement to "Certify Your Tax Status"
Many companies located in Massachusetts have received an email this week from the Department of Revenue (“DOR”) informing them of a requirement to “certify their tax status” on line via the DOR WebFile site before April 1. The purpose of obtaining this certification is to allow the DOR to publish a list of businesses qualifying […]
Alexander, Aronson, Finning & Co. Expands Into Boston
One of the state’s 10 largest public accounting firms – Alexander, Aronson, Finning & Co., P.C. – has opened its newest office on the 23rd floor of 160 Federal Street in Boston. The firm, also known as AAF, is adding the Boston location to its existing array of regional offices, which are situated in Cambridge, Wellesley, Westborough and Worcester. […]
IRS scrutiny of unreasonable salaries likely to continue
If your company is structured as an S corporation, you more than likely considered the tax advantages of this entity choice. But, as is the way of the world, tax advantages also give rise to IRS scrutiny. And the agency has made clear that its interest in S corporations will continue. Why the audits? The […]
4 myths about managing your debt
No matter where one stands in the income-earning hierarchy, debt management is vital. Underestimating or ignoring your obligations can delay or even prevent you from accomplishing many financial goals. Here are four myths about managing your debt: 1. My credit report is fine, and so am I. Many people glance at their credit reports once […]
Rising tide: The latest on long-term care insurance
We’re living in a time of change for both health care costs and coverage. Yet one thing remains the same: Everyone needs to consider how they’ll pay for extended care later in life should they need it. Long-term care insurance is one option, but it’s changing right along with the overall health care landscape. Costs […]
When is the right time to have your company appraised?
Many business owners assume the only right time to have their companies appraised is when they’re ready to sell. Not so. There are, in fact, many “right times” to engage the services of a professional appraiser. Setting your strategy Indeed, whether you’ve decided to sell or are just considering it, an appraisal is key. Many […]
A Message to You from the Managing Partners at Alexander, Aronson, Finning & Co., P.C. (AAF)
We are living in a dynamic age. The pace of change is accelerating, the impacts are both broad and profound, and the ability to adapt nimbly has become essential, particularly for public accounting firms and their clients. Every day we see news of firms that are merging up or selling out here in New England, […]
Your Nonprofit Organization May Owe Property Taxes
Massachusetts law provides for an exemption from local property taxes on real estate and personal property (equipment, furniture, etc.) for certain qualifying nonprofit organizations. Not all organizations qualify for this exemption, and not all properties of qualified organizations are eligible for exemption. By law, the burden of establishing entitlement to an exemption falls upon the […]
Protecting Privacy– Meld best practices into your policy and procedures
An appreciation for protecting individuals’ privacy has picked up steam in recent years, fueled by public outrage over identity theft and other violations. The protection of an individual’s privacy strikes the core of nonprofits, which collect a significant amount of personal data on clients, donors and other constituents. Safeguarding their privacy starts with the development […]