Individual, Family & Fiduciary Tax

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AAFCPAs’ Tomás Pueyo Provides NBC Boston Viewers with Tax Insight
Tomás A. Pueyo, Jr., CPA, MSA on NBC Boston

AAFCPAs’ Tomás Pueyo Provides NBC Boston Viewers with Tax Insight

NBC Boston (January 30th, 2024) – In an interview for NBC Boston, Tomás A. Pueyo, Jr., CPA, MSA provided insight on how taxpayers can make the most of their returns. Things like charitable donations, home improvements or rent can all mean deductions or credits on your taxes. Tomas is a member of AAFCPAs Commercial Tax […]

Tax Season Brings Rise in Cyber Crime

Tax Season Brings Rise in Cyber Crime

Cybercriminals are looking for ways to capitalize on tax season, with scams on the rise as businesses and individuals prepare to file returns. This means the simple act of opening an email or answering a call could put you at risk of identity theft or return preparer fraud. Making matters worse is a rise in […]

IRS Maintains Existing 1099-K TPSO Reporting Threshold for 2023

IRS Maintains Existing 1099-K TPSO Reporting Threshold for 2023

AAFCPAs would like to make clients aware that the IRS has announced a delay in implementing its new $600 1099-K reporting threshold for third-party settlement organizations (TPSOs), which include payment apps and online marketplaces like PayPal and Venmo, for calendar year 2023. This postpones the start of a 2021 law requiring that third-party settlement organizations […]

How MA Tax Reforms Might Affect High-Net-Worth Individuals Tax Webinars to be Hosted Next Week

How MA Tax Reforms Might Affect High-Net-Worth Individuals Tax Webinars to be Hosted Next Week

Massachusetts lowered taxes for the first time in 20 years, but changes may not be compelling enough to anchor high-net-worth individuals who are looking to leave the state for a more favorable tax environment. While new legislation increases the estate tax exemption to $2,000,000, Massachusetts remains less competitive alongside the 13 other states that offer […]

Watch Now: Individual & Family Tax Webinar 10/31

Watch Now: Individual & Family Tax Webinar 10/31

AAFCPAs’ Individual & Family Tax and Wealth Preservation Webinar As we near the close of another calendar year, we again encourage clients to assess their complete financial situation now in order to plan their year-end tax optimization strategy. As you do, be mindful that most tax reduction approaches must be implemented by December 31 or […]

AAFCPAs’ 2023-2024 Year-End Tax Planning Webinars

AAFCPAs’ 2023-2024 Year-End Tax Planning Webinars

SAVE THE DATE! AAFCPAs is excited to announce its annual year-end tax planning webinar series, which provides insight into strategies for 2023 year end that clients may take advantage of now to realize a more favorable tax outcome. Individual & Family Tax & Wealth PreservationTuesday, October 31st12:00 PM – 1:00 PM Business TaxThursday, November 2nd12:00 […]

Asset Protection Strategies for High-Net-Worth Individuals
Asset Protection Strategies

Asset Protection Strategies for High-Net-Worth Individuals

Asset protection strategies can form a legal and financial separation between professional and personal assets. This can limit your personal liability should a legal or creditor claim be made against your business, rental property, or professional practice. Asset protection strategies can also be designed to safeguard assets during a divorce and can notably enhance your […]

Recent Ruling Elevates Privacy of Holdings in Massachusetts Trusts

Recent Ruling Elevates Privacy of Holdings in Massachusetts Trusts

AAFCPAs and AAF Wealth Management would like to make clients aware of a recent ruling that makes Massachusetts an attractive jurisdiction for clients looking to create a trust for future generations while still keeping its holdings private. This could be especially beneficial for older generations looking to create a trust for younger generations without disclosing […]

Massachusetts Offers Charitable Contribution Deduction

Massachusetts Offers Charitable Contribution Deduction

As of January 1, 2023, all Massachusetts taxpayers may now deduct charitable contributions on their state return. If you cannot itemize and receive a deduction for charitable contributions on your federal return, you will still be eligible to receive a deduction on your state return. The new deduction is available for contributions made to qualifying […]