Tax Cuts & Jobs Act

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Webinar: 2018 Year-End Tax Planning for Privately-Held Companies (Part 1)
Live Webinar

Webinar: 2018 Year-End Tax Planning for Privately-Held Companies (Part 1)

Information continues to emerge as a result of the monumental Tax Cuts & Jobs Act.  For privately-held companies, the TCJA impacts your financial statements, operating model, liquidity, investments and capital, and people. For individuals, the TCJA impacts personal withholdings, charitable giving, family & education, retirement, and estate planning. AAFCPAs is pleased to offer a timely, […]

IRS Issues Proposed Regulations on Charitable Contributions and State and Local Tax Credits

IRS Issues Proposed Regulations on Charitable Contributions and State and Local Tax Credits

The IRS recently released proposed regulations addressing the state and local itemized tax deduction, available to individual taxpayers on their Federal tax returns.  The regulations also apply to trusts and decendents’ estates. Under the Tax Cuts and Jobs Act, the state and local tax deduction (consisting primarily of income, real estate and other property, and […]

AAFCPAs’ Richard Weiner and Daniel Cahill to Co-Present Tax Act Briefing: Choice of Entity After the TCJA
Richard Weiner & Dan Cahill

AAFCPAs’ Richard Weiner and Daniel Cahill to Co-Present Tax Act Briefing: Choice of Entity After the TCJA

AAFCPAs’ Tax Partner Richard Weiner, CPA, MST, Tax Manager Daniel Cahill, CPA, and Joseph B. Darby III, a Partner in Sullivan & Worcester’s Boston office, will present an educational briefing on September 26th from 4:00pm-5:45pm on the topic of Choice of Entity After the 2017 Tax Act: The Popular Passion for Pass-Through Entities May Be […]

IRS Releases Guidance on Accounting Method Changes for Small Businesses

IRS Releases Guidance on Accounting Method Changes for Small Businesses

On August 3, 2018, the IRS released Revenue Procedure 2018-40, which provides advance guidance for eligible small business taxpayers to apply for certain automatic accounting method changes introduced through the tax reform signed into law by President Trump on December 22, 2017. Rev. Proc. 2018-40 presents an amendment to Rev. Proc. 2018-31 to modify existing […]

Tax Cuts and Jobs Act: Opportunity Funds Target a New Pool of Investors to Affordable Housing Projects
Tax Cuts and Jobs Act

Tax Cuts and Jobs Act: Opportunity Funds Target a New Pool of Investors to Affordable Housing Projects

AAFCPAs would like to make clients aware that The Tax Cuts and Job Act (TCJA) created a new investment vehicle known as “Opportunity Funds,” which could potentially target a new pool of investors to affordable housing projects.  To benefit from this newly developed program, the project must be in a Qualified Opportunity Zone approved by […]

Educational Podcast: The Tax Cuts and Jobs Act, and What Nonprofits Need to Know
Josh TCJA

Educational Podcast: The Tax Cuts and Jobs Act, and What Nonprofits Need to Know

Listen to Podcast Click here to listen to podcast or use the above media player. The Tax Cuts and Jobs Act, known officially as H.R. 1, (The Act) represents a dramatic overhaul of the U.S. tax code, and includes widespread changes to the tax rules affecting charitable nonprofits. AAFCPAs Joshua England, JD, LLP, Trust, Estate, Tax […]

Charitable Planning After the TCJA Tax Law Changes
Charitable giving may not provide the same tax benefit

Charitable Planning After the TCJA Tax Law Changes

It can be argued that the most sweeping changes to the tax code in the past 30 years occurred last December, with the passing of the Tax Cuts & Jobs Act (TCJA). AAFCPAs Wealth Management urges clients to carefully consider charitable planning now. Charitable giving, in some instances, may not provide the same tax benefit […]

IRS’s Position on Taxability of Qualified Transportation Benefits is Broad Reaching, Adversely Affecting Many Nonprofits

IRS’s Position on Taxability of Qualified Transportation Benefits is Broad Reaching, Adversely Affecting Many Nonprofits

As expected, the IRS has clarified the interpretation of its unrelated business income (UBI) regulations and confirmed the taxation of qualified transportation benefits, whether provided directly by you, through a bona fide reimbursement arrangement, or through a compensation reduction agreement. For-profit entities are no longer able to deduct these qualified fringe benefits programs for their […]

AAFCPAs Presents: How the Tax Act Will Impact Business Owners, an Educational Workshop for XPX New England
Richard Weiner CPA

AAFCPAs Presents: How the Tax Act Will Impact Business Owners, an Educational Workshop for XPX New England

AAFCPAs’ Partner Richard Weiner, CPA, MST will present an educational workshop on February 27th for Exit Planning Exchange (XPX New England) members on how the Tax Cuts and Jobs Act (H.R. 1) will impact business owners. The biggest tax overhaul in more than two decades has officially been signed into law, and businesses are scrambling […]