Julie Chevalier
Tax and Accounting Implications in Buy-Side Business Transactions
Understanding the myriad tax implications of a buy-side business acquisition is essential to achieving a successful outcome. The way you structure the deal and approach due diligence can influence your financial results and help to avoid costly pitfalls. With the right strategies, you can identify opportunities to maximize tax benefits and streamline the integration process. […]
The Hidden Costs of Selling a Business Without a Plan
In this article: Selling a business is one of the most significant financial decisions owners face, with implications that reach far beyond the transaction itself. A lack of strategic planning could mean leaving value on the table or overlooking critical opportunities. To ensure the sale supports your financial and personal goals, careful preparation and guidance […]
Maximize Your Business Sale Value: Why Accurate Financials Matter
In this article: Businesses considering a sale, merger, Unsolicited Friendly Offer (UFO), or even a partial sale in exchange for a significant outside investment typically hear one piece of advice: Ensure your books are in order. Clean, accurate, and up-to-date financial records are essential for transaction success, particularly as prospective buyers or investors demand greater […]
Holders of Foreign Bank & Financial Accounts Must File FBAR by 4.15
AAFCPAs would like to remind clients of the IRS’s April 15th deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR), which applies to U.S. citizens, resident aliens and any domestic legal entity. For additional information about filing deadlines, filers are encouraged to visit the Financial Crimes Enforcement Network’s (FinCEN) website. Filers […]
IRS provides tax inflation adjustments for tax year 2022
The Internal Revenue Service announced the tax year 2022 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Highlights of changes: The tax year 2022 adjustments described below generally apply to tax returns filed in 2023. The tax items for tax year 2022 of greatest interest […]
Tax Planning Guides for Businesses & Individuals (2021-2022)
When considering your optimal tax planning & compliance strategy, business & individual tax payers must account for all current and impending tax code changes. This includes the 2017 Tax Cuts and Jobs Act, the 2019 Further Consolidated Appropriations Act, the 2020 Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and subsequent stimulus initiatives, as […]
Multi-State Worker Tax Considerations
AAFCPAs would like to make clients aware that Congress has introduced a bill under H.R. 7968 that would limit a state’s ability to tax nonresident telecommuters. The general rule is that an employee pays income taxes to the state where wages are earned, which can be different than the state where the employee lives. This […]
MA Tax Implications of a Remote Employee Due to COVID-19
AAFCPAs would like to make clients aware that the Massachusetts Department of Revenue (DOR) issued a Technical Information Release (TIR) describing the Massachusetts personal income and withholding tax implications of an employee working remotely in a state other than the state where the employee previously worked, solely due to the Coronavirus pandemic. The TIR explains […]
How the Wayfair Decision Impacts Nonprofits
On June 21, 2018, in a 5 to 4 vote, the United States Supreme Court, in South Dakota v. Wayfair, ruled that states were no longer bound by the physical presence test and could require out of state sellers to collect and remit sales tax based on economic nexus as long as certain criteria were met. AAFCPAs would […]