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2023 Year-end CFO/Controller Projects
As we approach the end of the year, finance leaders are immersed in a critical phase: ensuring tax compliance readiness, devising year-end tactics to maximize 2023 tax benefits, and crafting budgets and forecasts for 2024. This period often brings a surge in workload, challenging teams to do more with the same resources. This is where […]
Two Tax-friendly Vehicles for Charitable Giving
Since the IRS nearly doubled its standard deduction in 2017, a large number of taxpayers no longer itemize and, therefore, do not receive the associated deduction for charitable contributions on their tax return. But taxpayers may still garner a tax benefit from charitable giving with a little creativity. AAFCPAs and AAF Wealth Management advise that […]
Unlocking Automation Success: Building a Robust Case for RPA Through a Strategic Rubric
Consider how many business processes require little to no critical thought. Think high volume manual data entry, paper forms processing, patient registration, website scraping, policy administration or servicing, benefits administration, data cleansing, and system or application testing. Not only do these tasks detract from creative and strategic innovation, facetime, and critical analysis but the monotony […]
3.2% Cost-of-living Adjustment in 2024
The Social Security Administration recently announced a 3.2 percent cost-of-living adjustment (COLA) for 2024. While this is higher than its 2.6 percent average annual increase over the past two decades, it is down from an 8.75 percent increase in 2023, which marked the largest in 42 years. This increase is slated to affect 66 million […]
IRS Launches New ERC Withdrawal Process to Combat Fraud
AAFCPAs would like to make clients aware that the IRS has released details of its special Employee Retention Credit (ERC) withdrawal process. This initiative is designed to assist employers who filed an ERC claim but have concerns about its accuracy due to pressure or misleading advice from ERC marketers or promoters. The new withdrawal option […]
How MA Tax Reforms Might Affect High-Net-Worth Individuals Tax Webinars to be Hosted Next Week
Massachusetts lowered taxes for the first time in 20 years, but changes may not be compelling enough to anchor high-net-worth individuals who are looking to leave the state for a more favorable tax environment. While new legislation increases the estate tax exemption to $2,000,000, Massachusetts remains less competitive alongside the 13 other states that offer […]
MassCPAs 2023 Women’s Leadership Summit
On October 26th, 2023, AAFCPAs had the pleasure of celebrating our very own, Courtney McFarland, CPA at the MassCPAs Women’s Leadership Summit! Congratulations to Courtney McFarland, CPA, and alumna Amanda Pelcher, CPA, on their well-deserved honors! We are incredibly proud of both of you!!
Carla McCall Invited to Speak at Professional Women’s Conference
Boston, MA (October 26th, 2023) — AAFCPAs, a preeminent 300+ employee CPA and consulting firm specializing in tax, assurance, accounting, wealth management, business process and IT advisory solutions, is pleased to announce that Carla McCall, CPA, CGMA, Managing Partner has been invited to speak at the North Carolina Association of Certified Public Accountants (NCACPA) Professional […]
Massachusetts Passes Significant Tax Reforms
AAFCPAs and AAF Wealth Management would like to make clients aware that Governor Maura Healey recently signed into law significant tax legislation. The package will modify a number of tax laws in the Commonwealth including those related to short-term capital gains, the estate tax exemption, and the joint filing requirement. While legislation was signed into […]