Chris Consoletti
Seminar Recap: Navigating EOs: What Nonprofits Need to Know
Navigating Executive Orders: What Nonprofits Need to Know | Webinar OnDemand During AAFCPAs’ recent Nonprofit Seminar (April 2025), AAFCPAs’ consulting attorneys Joshua England and Chris Consoletti presented practical guidance on how executive orders may affect nonprofit operations to more than 550 attendees. A reality for many nonprofits is that they are already attempting to navigate […]
H.R. 9495: What Nonprofits Need to Know About the New Legislation
H.R. 9495, a bill granting the Treasury Secretary authority to revoke a nonprofit’s tax-exempt status over alleged ties to terrorism, passed the House along party lines but stalled in the Senate. While it has not yet been refiled, many anticipate it will be, with a potentially different outcome under the new congressional majority. While H.R. […]
Promotions Celebrated at AAFCPAs
Boston, MA (September 10th, 2024)—AAFCPAs, a preeminent 350+ employee CPA and consulting firm based in New England, is pleased to announce recent promotions in Assurance, Wealth Management, Tax, Outsourced Accounting & Fractional CFO, Business Process & IT Advisory, and our Infrastructure team. New Directors and Managers Angelina Lu, MSA, CPA. Now Director in AAFCPAs’ Commercial […]
Seminar Recap: Exploring Nonprofit Collaborations, Mergers, Affiliations, and More
During AAFCPAs’ recent Nonprofit Seminar (April 2024), Joshua England, LLM, Esq. and Chris Consoletti, Esq. updated approximately 400 attendees on nuances related to nonprofit collaborations, mergers, and affiliations. The full session was recorded and may be viewed as a webcast at your convenience. >> Now, more than ever, nonprofits need to explore collaborations, both formal […]
Exploring Nonprofit Collaborations, Mergers, Affiliations, and More 2024
Exploring Nonprofit Collaborations, Mergers, Affiliations, and More | Webinar OnDemand Watch AAFCPAs’ Tax Consulting Attorneys for an insightful look into various forms of nonprofit collaborations spanning informal information-sharing through formal affiliation agreements and strategic partnerships. Hear in-depth analysis on nonprofit mergers and acquisitions, 501(c)(3) and 501(c)(4) affiliation considerations, advantages of tandem for-profit structures, and benefits […]
Nonprofit Challenges in Navigating Tax Issues
Nonprofit organizations are often thought to be tax exempt. But this is a misnomer, as there are many situations where a nonprofit may have to either pay or collect and remit tax. Private foundations, also under the umbrella of 501(c)(3) nonprofit organizations, are subject to a 1.39 percent net investment tax on their investment income […]
Recent Ruling Elevates Privacy of Holdings in Massachusetts Trusts
AAFCPAs and AAF Wealth Management would like to make clients aware of a recent ruling that makes Massachusetts an attractive jurisdiction for clients looking to create a trust for future generations while still keeping its holdings private. This could be especially beneficial for older generations looking to create a trust for younger generations without disclosing […]
Nonprofits Can Transfer, Claim Direct Payments for Inflation Reduction Act Credits
The Inflation Reduction Act (the “Act”), originally signed into law on August 16, 2022, outlined a proposal that allowed certain non-taxable entities to receive specific credits under the Act as direct payments. On June 14, 2023, the IRS issued proposed regulations that outline how these non-taxable organizations can file and make an election to either […]
Tax Takeaways for Tax-exempt Organizations
During AAFCPAs’ Nonprofit Seminar (April 2023), Joshua England, LLM, Esq. and Chris Consoletti, Esq. updated more than 400 attendees on the latest tax issues, laws, and procedures affecting tax-exempt organizations. In their presentation, they offered an overview of accomplishments made by the IRS last year and its objectives this year. They also discussed the Employee […]