Topic
New Bill Could Amend ERTC Due Date
AAFCPAs would like to make clients aware of a new bill that has reached congress titled The Tax Relief for American Families and Workers Act of 2024, a vote for which is anticipated by January 31, 2024. If passed, this bill could amend the due date of Employee Retention Tax Credit (ERTC) filings to January […]
AAF Wealth Management Q4 2023 Market Insight
Last year was eventful both economically and otherwise, from bank failures in March to Fitch’s downgrade of U.S. government debt, a collapse in inflation, and the Federal Reserve signaling it might end rate hikes. In an ongoing commitment to keep you abreast on a range of issues that might affect you and your business, AAF […]
Nonprofit Challenges in Navigating Tax Issues
Nonprofit organizations are often thought to be tax exempt. But this is a misnomer, as there are many situations where a nonprofit may have to either pay or collect and remit tax. Private foundations, also under the umbrella of 501(c)(3) nonprofit organizations, are subject to a 1.39 percent net investment tax on their investment income […]
How to Level Up Financial Planning & Analysis
Financial Planning & Analysis (FP&A) plays a crucial role in an organization’s success. Budgeting, forecasting, and analytics support decision makers at organizations of all sizes. Most have the basic building blocks to drive FP&A—for instance, a good grasp of their industry, clear strategic objectives, and a wealth of financial data. But they may lack the […]
From the desk of Kevin Hodson
On the Desk Closing out 2023, we are reflecting on the continuous noise that permeates the markets. Our long-term approach helps us stay focused, though, as we look past week-to-week disruptions to bigger picture indicators. Interest rate increases, for example, have been on everyone’s mind. We’re less concerned with those trends at this point, as […]
From the Desk of Carmen Grinkis – December 2023
It’s that time of year again: not just the holidays themselves but also the annual Tiverton Four Corners Re-Tree contest. The town votes on art installations made from recycled materials, and I’m proud to have earned second place! If any voters are listening, though, I’ll gladly accept first place in 2024. My entry was titled […]
From the Desk of Jonathan Bloom – December 2023
My big news “on and off the desk” is… I’ve been promoted to Partner! I’m proud of the achievement and humbled by the outpouring of respect and support from my colleagues, clients, family, and friends. It’s been an exciting journey—from my roots as a trader at one of the world’s biggest brokerage firms and now […]
From the Desk of Andy Hammond – December 2023
On the Desk When asked if there are common themes as we approach the finish line of 2023, there is of course the logistical year-end planning, dotting of I’s and crossing of T’s. But conversations the past few weeks have a common thread of apprehension and unease. Unsurprisingly, the continuous stream of challenging world news […]
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 […]