Print Friendly, PDF & Email


Updates for Nonprofits under the New Tax Act

AAFCPAs would like to make Tax Exempt Organizations aware of recent legislative and regulatory updates related to the Tax Cuts and Jobs Act, (“TCJA”) and how these may affect charitable nonprofits. Legislation Attempts to Repeal the New Unrelated Business Tax on Tax Exempt Organizations Providing Qualified Fringe Benefits On December 20, 2018, the House passed the Retirement, Savings, and Other Tax Relief Act (H.R. 88) that would eliminate the provision... continue reading

Year in review: The Top 10 Insights from 2018

Year in review: The Top 10 Insights from 2018

2018 was a big year for finance professionals, with monumental changes in tax code & accounting rules, and other significant challenges & opportunities affecting commercial businesses, nonprofits, and individuals & their families.  Below are AAFCPAs’ most widely-read news alerts & insights in the past year: AAFCPAs’ 2018-2019 Tax Planning Guide for Businesses & Individuals Financial and Estate Planning Opportunities Related to the New Tax Law Whitepaper: Guidance on the New... continue reading

What Nonprofits Need to Know about the TCJA: AAFCPAs to Present a Members-Only Webinar for the Providers’ Council

What Nonprofits Need to Know about the TCJA: AAFCPAs to Present a Members-Only Webinar for the Providers’ Council

AAFCPAs Tax Consulting Attorneys Joshua England, JD, LLM, and Chris Consoletti, JD will present a Tax Cuts and Jobs Act educational workshop on December 10th at 12pm, for the benefit of the Massachusetts Council of Human Service Providers, Inc. (The Providers’ Council). The Tax Cuts and Jobs Act (TCJA) represents a dramatic overhaul of the U.S. tax code, and includes widespread changes to the tax rules affecting charitable nonprofits. Several... continue reading

AAFCPAs Cultivates Lush Giving Tree Again for #GivingTuesday

AAFCPAs Cultivates Lush Giving Tree Again for #GivingTuesday

We are happy to announce that AAFCPAs will again participate in #GivingTuesday, November 27th, 2018, a global day dedicated to giving! Celebrated on the Tuesday following Thanksgiving, #GivingTuesday provides a shift in focus from the widely promoted shopping events of Black Friday and Cyber Monday to the charitable giving season that comes with the holidays, AND the year-end deadline for charitable tax deductions. AAFCPAs is committed to maintaining our culture... continue reading

AAFCPAs & MENTOR’s Partnership in Charting a Sustainable Future

AAFCPAs & MENTOR’s Partnership in Charting a Sustainable Future

How Did One Nonprofit Explore Creative Approaches to a Sustainable Model? For nonprofits, charting the future is complex. The search for creative, strategic approaches to sustainability is continuous, and many organizations have struggled to achieve long term, mission-aligned profitability. In its work with MENTOR: The National Mentoring Partnership, AAFCPAs evaluated the organization’s financial and operational position and helped illuminate avenues for growth. Their work together led to an improved outlook,... continue reading

AAFCPAs Outlines State Applicability, IRS Guidance Related to TCJA that Nonprofits Need to Know

AAFCPAs would like to make Tax Exempt Organizations aware of state by state applicability and recent IRS guidance on the Tax Cuts and Jobs Act, known officially as H.R. 1, (the “TCJA”) and how it pertains to charitable nonprofits. AAFCPAs has outlined the following applicability and guidance that are especially noteworthy: State by state applicability of TCJA changes to nonprofits As outlined in an earlier post, the TCJA enacted widespread... continue reading

AAFCPAs’ Brittany Besler, CPA, JD, MBA to Present Legal Seminar on Nonprofit Compliance Requirements

AAFCPAs Tax Consulting Attorney Brittany Besler, CPA, JD, MBA will volunteer her expertise and lead Lawyers Clearinghouse’s Legal Workshop for Nonprofits: How to Maintain Nonprofit, Tax-Exempt, and Public Charity Status on October 2nd in Boston, MA. This two-hour educational workshop offers an overview of compliance requirements with various government agencies and practical tips for nascent nonprofits, including the IRS rules on fundraising and political activities. Brittany will be joined by... continue reading

Educational Podcast: CFO Survey Report: Behind Every Thriving Organization is a High-Functioning CFO

Educational Podcast: CFO Survey Report: Behind Every Thriving Organization is a High-Functioning CFO

AAFCPAs, in collaboration with The Boston Chapter of Financial Executives International (FEI-Boston), conducted a survey of over 250 Chief Financial Officers in an effort to capture what issues are currently ‘top of mind’ for senior financial executives in the Northeast region of the United States. We asked CFOs to provide their thoughts, opinions, and experiences in an effort to glean insight into how the role may be evolving, and why.... continue reading

Educational Podcast: Keynote Marylou Sudders

Educational Podcast: Keynote Marylou Sudders

Marylou Sudders leads the largest executive agency in state government, overseeing a $22 billion state budget, twelve agencies and 22,000 public servants. EOHHS services directly touch the lives of slightly more than 1 in 4 residents of the Commonwealth. Sudders’ responsibilities include the state’s MassHealth (Medicaid) program that provides health coverage to 1.9 million low income or disabled residents, chairing the board of the state’s health care marketplace (The Connector),... continue reading

Educational Podcast: How to Right-Size Your Finance Function

Educational Podcast: How to Right-Size Your Finance Function

Over one third of CFOs surveyed report human resource limitations and team bandwidth as the PRIMARY challenge in meeting the expectations of their CEO. Nonprofit finance departments are often juggling the day-to-day accounting and bookkeeping responsibilities alongside more complex and time consuming tasks, such as: HR-related activities; optimizing revenue; mergers & collaborations; data & cyber security; managing the IT investment decision-making process; business process improvements; implementing new accounting standards; and... continue reading