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 […]
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 […]
Year End Cannabis Business Tax Planning In this live webinar, AAFCPAs’ Cannabis Practice Leaders covered Federal & State tax planning strategies for cannabis businesses. Listen to hear what you may need to consider now to optimize your 2022 tax position. Topics Covered Include: Key considerations for Tax Compliance Readiness 280E Tax key considerations, and the […]
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 […]
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 […]
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 […]
IRS Issues Early Drafts of International Tax Reporting Forms, Form 5471 & FINCEN 14
AAFCPAs would like to make clients aware that the IRS has issued early drafts of revisions to international tax Forms 5471 and FINCEN14 (formerly known as FBAR). What’s New with Form 5471? Internal Revenue Service Form 5471, Information Return of U.S. Persons with Respect to Certain Foreign Corporations (CFC), has been in existence for many […]
AAFCPAs Releases 2020-2021 Tax Planning Guide for Businesses & Individuals
In 2020, tax planning is more complicated than usual. We now have a full view of the impact of United States’ massive 2017 Tax Cuts and Jobs Act (TCJA) and the 2019 Further Consolidated Appropriations Act on clients’ short and longer-term tax planning strategies. We must now evaluate these Acts in tandem with the $2.2 […]
AAFCPAs would like to make clients aware that the IRS and Treasury issued final regulations recently covering the Section 250 deduction for foreign-derived intangible income (FDII) and global intangible low-taxed income (GILTI). FDII and GILTI were introduced to US tax law as part of the 2017 Tax Cuts and Jobs Act and apply to domestic […]
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