Green Tech & Clean Tech
IRS Updates Guidance on Business Interest Deductions
Key takeaways: The Internal Revenue Service recently clarified its Section 163(j) FAQs following changes under the One Big Beautiful Bill Act. These updates do not create new law but provide practical guidance for companies evaluating financing, merger and acquisitions activity, or capital investments. For businesses with significant depreciation or amortization, the revised framework helps align […]
Why Tax Planning Should Begin Well Before a Multistate or International Business Sale
When preparing a business for sale, one of the first areas buyers examine is tax compliance. Where a company files state income, sales, and payroll taxes—and whether those filings are complete—can become a central focus of due diligence. Gaps in compliance, or even unintentional oversights, can lead to buyer holdbacks, unexpected liabilities, delays in closing, […]
Green Energy Tax Credits Ending Under One Big Beautiful Bill
The One Big Beautiful Bill (OBBB) redrew the boundaries of U.S. climate policy. With its passage, several of the tax incentives that had shaped investment in electric vehicles, home energy upgrades, and renewable infrastructure are set to expire. Some of these credits, introduced under the Inflation Reduction Act, had been generous but complex. Others were […]
Massachusetts to Automate Penalties on Late Advance Payments Starting July 2025
Beginning July 1, 2025, the Massachusetts Department of Revenue (DOR) will automatically assess penalties on businesses that fail to make required advance tax payments by the 25th of each month. The advance payment requirement, in place since 2021, applies to businesses with more than $150,000 in annual tax liability from certain indirect taxes, such as […]
Bill Introduced to Repeal R&D Expense Capitalization
AAFCPAs provides the following update to clients with expenditures incurred in connection with your trade or business which represent research and development costs in the experimental or laboratory sense. On Thursday, March 16th, Senators Maggie Hassan (D) of New Hampshire and Todd Young (R) of Indiana reintroduced a bill to repeal the required capitalization of […]
Guidance on New Lease Accounting Standard
In 2016, FASB issued Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) to increase transparency and comparability of lease transactions. AAFCPAs has summarized some of the most significant changes resulting from the new ASU for your convenience: AAFCPAs has provided a detailed Whitepaper providing guidance on the FASB’s new Lease standard so clients may proactively […]
MA Launches Stimulus Program to Boost Small Businesses
AAFCPAs would like to make clients aware that Massachusetts Governor, Charlie Baker has announced a new $50.8 million grant program for Massachusetts small businesses experiencing adverse impact from the pandemic. AAFCPAs’ client Massachusetts Growth Capital Corporation (MGCC) will be administering these funds to businesses experiencing economic hardship and a loss of income due to COVID-19. […]
AAFCPAs Releases 2019-2020 Tax Planning Guide for Businesses & Individuals
As we approach the second tax filing season under the monumental Tax Cuts & Jobs Act (TCJA), we now have a clearer and broader view of what the future holds for businesses, individuals, tax exempt and government entities. This view includes insight into opportunities and pitfalls to consider for 2019-2020. Download AAFCPAs’ 2019-2020 Tax Planning Guide for […]
FASB Issues ASU 2018-17: Targeted Improvements to Related Party Guidance for Variable Interest Entities
AAFCPAs would like to make clients aware that the Financial Accounting Standards Board (FASB) on October 31, 2018, issued an Accounting Standards Update (ASU) that reduces the cost and complexity of financial reporting associated with consolidation of variable interest entities (VIEs). A VIE is an organization in which consolidation is not based on a majority […]