Business Tax
The Inflation Reduction Act of 2022
On August 16, 2022, President Biden signed into law Public Law Number 117-169, the Inflation Reduction Act of 2022 (the Act). AAFCPAs has highlighted below some of the most impactful tax provisions in the Act, including, but not limited to, provisions and credits affecting clean energy, a significant monetary reinvestment into the IRS, and a […]
Inflation Reduction Act Tax Credit Incentives for Contractors
On August 16, 2022, President Biden signed the Inflation Reduction Act. Both existing and expired energy efficiency tax incentives including 179D Deductions and 45L Credits have been expanded significantly. AAFCPAs would like to make Real Estate and Construction clients aware of the following provisions: Section 179D Tax Deduction The Inflation Reduction Act aims to invest […]
Pennsylvania Corporate Income Tax Changes
AAFCPAs would like to make clients aware, if you are subject to Pennsylvania’s corporate income tax, there are two significant changes instituted pursuant to H.B. 1342, signed by the governor on July 8th, 2022, effective starting in 2023. CORPORATE TAX RATE The current Corporate Net Income Tax (CNIT) rate is 8.99%. There will be an […]
Important Changes To Vermont Corporate Income Tax
AAFCPAs would like to make clients aware, if you are subject to Vermont’s corporate income tax, there are several significant changes instituted pursuant to S.B 53, an act relating to changes to Vermont corporate income tax and conformity to federal tax laws, which will be effective for tax years beginning on or after January 1, […]
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 […]