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Response Divided on New 340B Legislation

Response Divided on New 340B Legislation

AAFCPAs would like to make clients aware that legislation designed to overhaul the 340B program was recently introduced. This legislation, previously coined the 340B Affording Care for Communities and Ensuring a Strong Safety-Net Act (340B ACCESS Act), seeks to establish new transparency and oversight requirements and capture policy principles agreed upon in the Alliance to […]

ESSER Program Removed From Higher Risk Designation

ESSER Program Removed From Higher Risk Designation

AAFCPAs would like to make clients aware that the U.S. Office of Management and Budget (OMB) under the Office of Federal Financial Management released the 2024 OMB Compliance Supplement, removing the Elementary and Secondary School Emergency Relief (ESSER) program from the listing of programs with higher risk designation. Many charter schools have undergone an audit […]

U.S. Department of Labor Issues Final Rule on Employee vs. Independent Contractor Classification

U.S. Department of Labor Issues Final Rule on Employee vs. Independent Contractor Classification

AAFCPAs would like to make clients aware that the U.S. Department of Labor issued its final rule on employee versus independent contractor classification under the Fair Labor Standards Act. Effective March 11, 2024, this final rule provides guidance on how employers determine employee versus independent contractor status. Relying on a multifactor economic reality test, the […]

Carla McCall Named 2024 Most Powerful Women in Accounting 

Carla McCall Named 2024 Most Powerful Women in Accounting 

Boston, MA (June 4, 2024)—AAFCPAs, a preeminent 325+ employee CPA and consulting firm is pleased to announce that Carla McCall, CPA, CGMA, Managing Partner has been selected as one of the 2024 Most Powerful Women in the Accounting Profession by the AICPA & CIMA and CPA Practice Advisor Magazine. This award promotes and supports the […]

AAFCPAs Continues Expansion to Meet Growth Momentum

AAFCPAs Continues Expansion to Meet Growth Momentum

Boston, MA (May 30, 2024)—AAFCPAs, a preeminent 325+ employee CPA and consulting firm specializing in tax, assurance, accounting, wealth management, business process and IT advisory solutions, is pleased to announce expansion of its key practice areas. As part of this, the company welcomes Patricia Taub as Senior Accountant; Shannon Sargent and April Winward as Consulting […]

ESOPs May Be the Key to Operating Tax-free in the Cannabis Space

ESOPs May Be the Key to Operating Tax-free in the Cannabis Space

Cannabis operators focus heavily on tax mitigation, employee retention, growth strategies, and profitable exit. A properly structured ESOP is a great tool to accomplish all those goals and more. In a recent webinar, “Cannabis ESOPs – The Industry Game Changer”, AAFCPAs’  David McManus, CPA, CGMA, Tax Partner & National Cannabis Practice Leader and Joshua England, LLM, Esq., […]

Carla McCall Elected Chair of AICPA and Co-Chair of Association of International CPAs

Carla McCall Elected Chair of AICPA and Co-Chair of Association of International CPAs

Westborough, MA (May 23, 2024) – AAFCPAs, a preeminent CPA and consulting firm, is pleased to announce that its Managing Partner, Carla McCall, CPA, CGMA, was elected to serve as the new Chair of the American Institute of CPAs (AICPA) and Co-Chair of the Association of International Certified Professional Accountants, which combines the strengths of […]

CECL Standard To Impact Healthcare Entities

CECL Standard To Impact Healthcare Entities

Transactions falling into the scope of CECL include amounts due from Medicaid and Medicare, as well as loan receivables, held-to-maturity debt securities, and loan commitments. AAFCPAs would like to make clients aware that the Financial Accounting Standards Board (FASB) has pronounced a shift in credit loss accounting within ASC 326, which is commonly referred to […]

AAFCPAs Celebrates 2024 National Charter Schools Week

AAFCPAs Celebrates 2024 National Charter Schools Week

AAFCPAs invites you to join us in celebrating National Charter Schools Week May 12-18, 2024 as we pay tribute to charter schools and the inspirational work they do to prepare students for success. National Charter Schools Week recognizes public charter schools along with their commitment to academic achievement. This year’s National Charter Schools Week focuses […]