Industry
Congress Passes Another Two-Year Suspension of the Medical Device Excise Tax
AAFCPAs would like to make clients aware that the Medical Device Excise Tax (“MDET”) has once again been suspended for 2018 and 2019, retroactive to January 1, 2018. MDET is a 2.3% tax on medical devices, enacted effective January 1, 2013. The tax applied to manufacturers and importers of certain medical devices, as defined by […]
Amazon to Release Vendors’ Names, Per Order of Massachusetts DOR
When purchasing items from Amazon, buyers may see a designation of “Sold by Amazon,” or “Sold by XYZ Co and Fulfilled by Amazon,” without paying significant attention to the difference. For vendors, the distinction is important. Sellers who participate in the Fulfilled by Amazon (“FBA”) program retain ownership of their goods, essentially hiring Amazon to […]
AAFCPAs Guidance for Contractors: Best Practices For Optimizing The Balance Sheet For Users Of Your Financials
AAFCPAs reminds readers of the critical importance of the balance sheet, and advises our construction clients to ensure their presentation of this statement of financial position is optimized in order to demonstrate a solid foundation. Your balance sheet provides a ‘snapshot’ of your company’s financial position at a single point in time, and provides critical […]
AAFCPAs Recommends MA Charter Schools Revisit Their Credit Card Policies for Clarity in Light of New DESE Standards
The Massachusetts Department of Elementary and Secondary Education (DESE) Office of Charter Schools recently announced that, effective in fiscal year 2018, the Charter School Audit Guide will require auditors to determine if the school operates in accordance with its credit card policy. AAFCPAs recommends, accordingly, that at this time each charter school client review its […]
AAFCPAs Advises Clients to Prepare for the Return of the Medical Device Tax
AAFCPAs would like to make clients aware that, effective January 1, 2018 the “moratorium” on medical device excise taxation expired, which affects many companies in the life-sciences, including those focused on bio-medical, pharmaceutical, or manufacturing & distribution. As you may recall, the Obama administration enacted the “Protecting Americans From Tax Hikes Act of 2015” (“PATH […]
AAFCPAs to Present on Strategic Budgeting for Association Executives
AAFCPAs’ Jeffrey Cicolini, CPA, CGMA will present an educational workshop titled “Rethinking Your Budget – Leading a More Comprehensive Financial Planning Process.” This session is part of the New England Society of Association Executive’s (NE/SAE) Annual Management Conference, scheduled for January 18-19, 2018, in Newton, MA. This presentation will provide insight to association executive management […]
Ensuring Sustainability Means Nonprofits Need to Act Now
MassNonprofit News | Although nonprofits cannot control market forces and potential changes in funding, they can take steps to ensure sustainability and greater capacity by broadening the scope of their financial planning process. AAFCPAs Jeffrey Cicolini, CPA, CGMA provides actionable insights to help nonprofits ensure long-term sustainability.
AAFCPAs to Present Educational Workshop on Mitigating Fraud Risks for National Business Officers
AAFCPAs’ John Buckley, CPA, CGMA, along with AAFCPAs’ client Cynthia Fanikos, Chief Financial Officer, Saint John’s Preparatory School (Danvers,MA), will present an educational workshop titled “An Inside Job: Safeguarding Schools by Assessing and Mitigating Fraud Risks with Internal Controls and Cyber Security.” This session is part of the National Business Officers Association’s (NBOA) Business Office NOW: East […]
AAFCPAs Shares Valuable Tax Insights in 2017 Year-End Corporate and Individual Tax Planning Webinar
AAFCPAs presented this webinar on Tuesday, November 14th from 12-1pm in a live, 1-hour corporate and individual tax planning session. As you are aware, there is potential for dramatic changes in Federal and State tax law on the horizon which, more than ever, requires a multi-year approach to tax planning. AAFCPAs’ Richard Weiner, CPA, MST, Bella Amigud, […]