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R&D Tax Credit Underutilized by Construction Contractors

AAFCPAs would like to make construction clients aware of potential tax savings that are available to contractors through the use of Research & Development (R&D) Tax Credits. The R&D Tax Credit is a government-sponsored tax incentive that rewards companies for conducting R&D in the United States. It is a common misconception that the R&D credit […]

Guidance on the SBA’s New Applications for PPP Loan Forgiveness

On June 16th the Small Business Administration (SBA) released a series of new applications and instructions for the forgiveness calculation for the Paycheck Protection Program (PPP) loans. The application has been broken down into two documents: application and instructions. A new, simpler EZ form with corresponding instructions has also been introduced. AAFCPAs has provided for […]

PPP Safe Harbor Extended to May 18

AAFCPAs would like to make clients aware that in their most recent Paycheck Protection Program (PPP) Loan Frequently Asked Questions (FAQs), the Treasury and the Small Business Administration (SBA) announced an additional extension of the “safe harbor” deadline for recipients of PPP loans. PPP loan borrowers are now allowed to return the money to the […]

SBA FAQ Indicates Good Faith Assumed for PPP Loans Under $2M

In a dramatic turn of events the Small Business Administration (SBA) released Paycheck Protection Program (PPP) Loans FAQ #46 today, May 13th regarding how the organization will review borrowers’ required good-fair certification concerning the necessity of their loan request. Loans Under $2 Million The FAQ reads “Any borrower that, together with its affiliates, received PPP […]

Questions Businesses Need to Address to Support PPP Loan Certifications

AAFCPAs has provided the following sample questions borrowers should address in a written “living document” supporting that PPP loan certifications were made in good faith. We recommend outlining responses contemporaneously in a journal format that can be appended over time as further guidance becomes available and relevant facts and circumstances evolve. Impact on Business Operations […]

Guidance on SBA Disaster Loans, AAFCPAs’ CARES Act Task Force Mobilized to Assist

UPDATE 4/16/20: Initial Round of SBA Disaster Loan Funds Exhausted; Now what? AAFCPAs would like to make clients aware that the Coronavirus Aid, Relief and Economic Stimulus (CARES) Act legislation, signed by President Trump on Friday, March 27th, 2020, creates two Small Business Administration (SBA) loan programs available to businesses to prevent devastation caused by […]

AAFCPAs’ Dan Stanhope Attains Certified Construction Industry Financial Professional

AAFCPAs’ Partner Dan Stanhope, CPA, MSA has been awarded the Certified Construction Industry Financial Professional (CCIFP) credential issued by the Institute of Certified Construction Industry Financial Professionals (ICCIFP). Dan was awarded the CCIFP credential in recognition of his earned expertise in the complex specialty of construction accounting and financial management. The rigorous credentialing exam verified […]

AAFCPAs’ Partner Dan Stanhope Awarded 40 Under Forty 2019

AAFCPAs is honored to announce that Partner Daniel Stanhope, CPA, MSA was selected for the Worcester Business Journal’s 2019 40 Under Forty Awards. These distinguished awards recognize the best and brightest business leaders under 40 in Central Massachusetts. “We are exceptionally proud Dan has been singled out for his accomplishments and continued commitment to impact […]