Industry
AAFCPAs Participates in Compliance Panel at NECANN Boston 2025
AAFCPAs’ Janice M. O’Reilly, CPA, CGMA and David McManus, CPA, CGMA will join Tony Gallo, Sapphire Risk Advisory Group, and Peter D’Agostino, Tenax Strategies, for an interactive panel discussion at the 2025 New England Cannabis Convention (NECANN) on key compliance issues faced by cannabis establishments. The opening day session will cover compliance and reporting requirements […]
M&A Activity Set to Increase in 2025 Amid Economic and Demographic Shifts
After a period of slowed deal making driven by high interest rates and uncertainty, the M&A landscape could look very different in 2025. As the economy adjusts to changing tax policies, evolving market conditions, and demographic shifts, business owners may find new opportunities to buy or sell. For many, 2025 could be the year to […]
How Automation Enhances the UFR and Simplifies Nonprofit Reporting
For many Massachusetts human and social services contractors, preparing the annual Uniform Financial Report (UFR) is a significant endeavor. It is not only resource intensive and complex but presents limited flexibility and extensive redundancy. Gathering the financial details, meeting state regulations, and hitting strict deadlines consumes extensive resources for those already operating with limited staff. […]
The Current Federal Funding Landscape: What Nonprofits Need to Know
Nonprofits nationwide that receive government funding are facing uncertainty as a federal funding freeze disrupts critical financial support. At the same time, nonprofit leaders nationwide are voicing concerns and seeking clarity on how this freeze may affect their organizations. Federal Funding at Risk The funding freeze initiated under the Trump administration has raised alarms among […]
Tax Planning For Life Sciences Amid Shifting Policies
Life Science Leader (February 11,2025) – In the life sciences sector, maintaining a strategic approach to tax planning has become increasingly complex, especially with ongoing regulatory changes affecting mergers, acquisitions, and how we treat research and development (R&D) expenses. Such tax policy shifts can directly affect corporate structure decisions, overall business strategy, and the ability […]
AAFCPAs Launches Nonprofit Consulting Suite to Streamline Support
Boston, MA (February 12, 2025)—AAFCPAs, a preeminent 350+ employee CPA and consulting firm specializing in tax, assurance, accounting, wealth management, and business process and IT advisory solutions, today announced the launch of its Nonprofit Consulting Suite, a dynamic resource designed to meet the complex demands of mission-driven organizations. Accessible now at aafcpa.com/nonprofit-consulting-suite, this web-based platform […]
MA Form 3ABC due by 3/1 to avoid local property taxes
Editor’s Note: This article was updated in 2025 for accuracy and relevance. The Massachusetts Return of Property Held for Charitable Purposes Form 3ABC provides for an exemption from local taxation on personal and real property for eligible charitable organizations. As a reminder, to be exempt, you must file an annual Form 3ABC, due at the Assessor’s […]
Reminder: UDS+ Reporting Requirements Begin February 18
As a reminder, the new Uniform Data System (UDS+) reporting requirements go into effect on February 18, 2025. These changes require health centers to submit some de-identified 2024 UDS patient-level data using Health Level Seven International (HL7)-developed Fast Healthcare Interoperability Resources (FHIR) R4 standards. To help you navigate these updates, we previously published a detailed […]
H.R. 9495: What Nonprofits Need to Know About the New Legislation
H.R. 9495, a bill granting the Treasury Secretary authority to revoke a nonprofit’s tax-exempt status over alleged ties to terrorism, passed the House along party lines but stalled in the Senate. While it has not yet been refiled, many anticipate it will be, with a potentially different outcome under the new congressional majority. While H.R. […]