Business Tax
New Colorado Retail Delivery Fee
AAFCPAs would like to make clients aware, if you sell tangible property to customers located in Colorado, there is an important change coming that could significantly affect the amount of tax you need to collect from your customers. Effective July 1, 2022, the Colorado Department of Revenue will be instituting a new Retail Delivery Fee […]
New Schedules K-2 & K-3 affecting all flow-through entity tax returns
AAFCPAs would like to make clients aware that the IRS has released final versions of two new Schedules K-2 & K-3 that should be included with tax returns of pass-through entities. These schedules were originally perceived as being required to be filed only by entities reporting items of international relevance. However, in its recent January […]
DOR Update: 2022 Sales & Use Tax Returns Changes
AAFCPAs would like to make clients aware of some recent changes instituted by the Massachusetts Department of Revenue (DOR) related to 2022 Sales and Use Tax Returns, including forms related to sales tax on services and meals, room occupancy excise tax, and marijuana retail tax. New lines will be added to the Sales Tax on […]
Bella Amigud, CPA, MST Promoted to Tax Partner
Boston, MA (01/31/22) – AAFCPAs, a best-in-class CPA and consulting firm known for assurance, tax, accounting, wealth management, business process, and IT advisory solutions, today announced the promotion of Bella Amigud, CPA, MST to Tax Partner. Bella specializes in business tax compliance, planning, and consulting. She coordinates tax services, brings timely, value-added tax strategies, and […]
2021 Round-up: AAFCPAs’ Top 7 Most-Read Content
How can we do more with less? Over the past year, AAFCPAs published a wide array of alerts & insights that explore topics ranging from compliance, to productivity & business intelligence, to data security. In this end-of-year roundup, we share key insights and trends from our most-read content of 2021: Tax Planning Guides for Businesses […]
IRS provides tax inflation adjustments for tax year 2022
The Internal Revenue Service announced the tax year 2022 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Highlights of changes: The tax year 2022 adjustments described below generally apply to tax returns filed in 2023. The tax items for tax year 2022 of greatest interest […]
Tax Planning Guides for Businesses & Individuals (2021-2022)
When considering your optimal tax planning & compliance strategy, business & individual tax payers must account for all current and impending tax code changes. This includes the 2017 Tax Cuts and Jobs Act, the 2019 Further Consolidated Appropriations Act, the 2020 Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and subsequent stimulus initiatives, as […]
Treasury, IRS guidance on reporting qualified sick & family leave wages
AAFCPAs would like make clients aware that the Treasury Department and the IRS issued guidance to employers about reporting on Form W-2 the amount of qualified sick and family leave wages paid to employees for leave taken in 2021. The notice provides guidance under recent legislation, including: the Families First Coronavirus Response Act (FFCRA), as […]
Treasury, IRS provide gross receipts safe harbor for employers claiming the Employee Retention Credit
AAFCPAs would like to make clients aware that the Treasury and the IRS recently issued a safe harbor allowing employers to exclude certain items from their gross receipts solely for determining eligibility for the Employee Retention Credit (ERC). These amounts are: The amount of the forgiveness of a Paycheck Protection Program (PPP) Loan; Shuttered Venue […]