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Watch Now: 2022 Year-End Tax Planning & Compliance for Privately Held Companies

Watch Now: 2022 Year-End Tax Planning & Compliance for Privately Held Companies

Year-End Business Tax Planning In this live webinar, AAFCPAs’ Business Tax Advisors covered Federal, State, and International tax planning strategies for privately held businesses. Listen to hear what you may need to consider now to optimize your 2022 tax position. Topics Covered Include: Federal Taxation: Tax Credits Employee Retention Credit: Do you qualify, and how […]

Guidance on New Lease Accounting Standard

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

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

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

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 […]

AAFCPAs Shares Valuable Tax Insights in 2017 Year-End Corporate and Individual Tax Planning Webinar

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, […]

Tax Return Due Dates & Filing Extensions Changed

Tax Return Due Dates & Filing Extensions Changed

In a 2015 highway funding bill, Congress & the IRS announced changes to due dates for partnership and corporate tax returns, as well as FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR), and several other IRS information returns.  These changes will affect your 2016 tax filings. AAFCPAs has provided the following summary […]

2016 Standard Mileage Rates

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

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 […]