Industry
The MA Attorney General Launches Online Payment System (ePay) to Accept Fees from Charities
The Massachusetts Office of the Attorney General (AGO), Division of Public Charities office has announced the launch of its statewide, online payment system to accept annual filing fees from registered charities. Any public charity that is registered with the AGO and has an Attorney General Number may now use the ePay site to remit their […]
AAFCPAs’ Update on Decisions Reached in FASB NFP Financial Statements Project
The Financial Accounting Standards Board (FASB) is evaluating 263 comment letters, including feedback from AAFCPAs, as part of their invitation to stakeholders for review and input on the proposed Accounting Standards Update (ASU) entitled Not-for-Profit Entities (Topic 958) and Health Care Entities (Topic 954): Presentation of Financial Statements of Not-for-Profit Entities. As part of its […]
AAFCPAs to Present Educational Workshops on Fraud Prevention, Revenue Recognition at National Business Officers Conference in L.A. Benefiting Independent Schools
AAFCPAs has been selected to present complimentary educational workshops on two important topics at the National Business Officers Association’s 2016 Annual Meeting in Los Angeles on February 21-24th. This is a must-attend conference for business officers and other independent school leaders, providing exceptional professional development programming and networking opportunities for over 1,000 independent school professionals […]
FASB Issues Standards for Recognition and Measurement of Financial Assets and Liabilities
AAFCPAs wants to alert you to this change from the Financial Accounting Standards Board (FASB). In their effort to provide users of financial statements with more useful information on the recognition, measurement, presentation, and disclosure of financial instruments, on January 5, 2016 the FASB issued a new Accounting Standards Update (ASU) No. 2016-01, Financial Instruments, […]
President Signs Tax Extenders into Law; R&D Tax Credit Made Permanent
On December 18, President Obama signed into law the Protecting Americans From Tax Hikes Act of 2015 (“PATH”), which extends or makes permanent over 50 provisions of the Internal Revenue Code that had expired at the end of 2014, including several key pro-business initiatives. The PATH legislation expands and makes permanent the Research and Development […]
2016 Standard Mileage Rates
The IRS has issued the 2016 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2016, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 54 cents per mile for […]
Congress to Vote on Tax Extender Bill Friday
On Tuesday night, Congress reached an agreement on a year-end spending and tax deal that includes the much anticipated tax “extender” provisions. The tax bill is expected to extend around 50 credits for businesses and individuals, while also delaying until 2017 a tax on medical device manufacturers. This news provides some insight of what to […]
Tax Planning Guide for Individuals and Businesses Year-End 2015
AAFCPAs is pleased to provide you with detailed tax planning guides that we know you will find helpful in navigating the numerous tax updates taking effect in 2016! If you have not done so already, there is still time to consider year-end tax-saving opportunities. These tax guides are organized into sections discussing year-end, as well […]
ALERT: Non-profits are the latest target of Phishing Schemes
AAFCPAs has been alerted by a number of nonprofit clients that they are receiving emails from scammers who are disguising themselves as an internal, senior member of the organization’s management team. These emails look legitimate and are from an email address very similar to the organization’s email, with a slight variation. In the email there […]