Topic
Chicago Extends Lease Tax to Software as a Service
Although states have not been increasing sales tax rates in general, many have begun to expand their tax base as some lawmakers look at expanding the list of taxable items. Some states are looking to tax digital products such as music, book, and video downloads. Many states also tax various forms of software including Software […]
Jonathan Bloom, CFP®, AIF®, Wealth Advisor Promoted to Partner
Boston, MA (December 11, 2023)—AAFCPAs, a preeminent 300+ employee CPA and consulting firm specializing in tax, wealth management, assurance, accounting, business process and IT advisory solutions, is pleased to announce the promotion of Jonathan Bloom, CFP®, AIF®, Senior Wealth Advisor, AAF Wealth Management to Partner effective January 1, 2024. Jonathan joined AAF Wealth Management in […]
Budgeting Software Features for Those Who Love Excel
CFOs and accountants will rightfully admit that Excel has its limitations. Consider the time involved in complex calculations, manual report generation, and meticulous data input due to the inability to download data directly from the bank. Still, despite its limitations, what keeps users loyal to Excel is the joy in working with spreadsheets. But business […]
Managing Generational Change in Family Business
Running a business in today’s global economy is challenging due to rapidly evolving technology, changing consumer preferences, and economic uncertainties—which all require constant adaptation and innovation to remain competitive. When the company is closely held or family-owned, however, the complexities may increase tenfold. There are additional emotional and psychological elements to contend with, legacy concerns, […]
Job Change? Now is a Good Time to Revisit Your Financial Plan
When you change employers, embark on a long sabbatical, take early retirement, or experience any sort of significant career shift, you face a new set of financial challenges. A new job might reverse plans or steer you in a new direction. You might need to reassess what you value, how you manage assets, and what […]
2023 Year-end CFO/Controller Projects
As we approach the end of the year, finance leaders are immersed in a critical phase: ensuring tax compliance readiness, devising year-end tactics to maximize 2023 tax benefits, and crafting budgets and forecasts for 2024. This period often brings a surge in workload, challenging teams to do more with the same resources. This is where […]
Two Tax-friendly Vehicles for Charitable Giving
Since the IRS nearly doubled its standard deduction in 2017, a large number of taxpayers no longer itemize and, therefore, do not receive the associated deduction for charitable contributions on their tax return. But taxpayers may still garner a tax benefit from charitable giving with a little creativity. AAFCPAs and AAF Wealth Management advise that […]
Unlocking Automation Success: Building a Robust Case for RPA Through a Strategic Rubric
Consider how many business processes require little to no critical thought. Think high volume manual data entry, paper forms processing, patient registration, website scraping, policy administration or servicing, benefits administration, data cleansing, and system or application testing. Not only do these tasks detract from creative and strategic innovation, facetime, and critical analysis but the monotony […]
3.2% Cost-of-living Adjustment in 2024
The Social Security Administration recently announced a 3.2 percent cost-of-living adjustment (COLA) for 2024. While this is higher than its 2.6 percent average annual increase over the past two decades, it is down from an 8.75 percent increase in 2023, which marked the largest in 42 years. This increase is slated to affect 66 million […]