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From The Desk of Carmen Grinkis – July 2024
I recently returned from the Northern California Financial Planning Conference held in San Francisco. I participate in continuing education opportunities on a routine basis, and this trip was a special treat—known as one of the best in the country and attended by more than 1,000 planners across the U.S. This year’s conference focused heavily on […]
From The Desk of Jonathan Bloom – July 2024
I often reflect on my role in helping clients navigate not just retirement but all of life’s many transitions—like changing jobs, welcoming kids or grandkids, or exiting their business. These moments carry both financial and emotional weight, and I aim to make these transitions as smooth as possible. My goal is to support clients comprehensively—providing […]
Use Tax Audits on the Rise
AAFCPAs would like to make clients aware that there has been an increase in the number of use tax audits being conducted in various states. As jurisdictions look to increase tax revenue, use tax audits may be considered a simple way to drive revenue through tax collections, penalties, and interest. What is use tax? While […]
AAFCPAs Provides the Technical Blueprint To Unite a Portfolio of Vertically Integrated Entities
When a multifaceted and rapidly expanding energy resource company grew to the point that it was challenged to maintain its general ledger, client billing, and project management functions, the company was faced with a choice. It would need to either hire additional personnel or pursue digital transformation. But digital transformation required time, dedication, and insight […]
Response Divided on New 340B Legislation
AAFCPAs would like to make clients aware that legislation designed to overhaul the 340B program was recently introduced. This legislation, previously coined the 340B Affording Care for Communities and Ensuring a Strong Safety-Net Act (340B ACCESS Act), seeks to establish new transparency and oversight requirements and capture policy principles agreed upon in the Alliance to […]
U.S. Department of Labor Issues Final Rule on Employee vs. Independent Contractor Classification
AAFCPAs would like to make clients aware that the U.S. Department of Labor issued its final rule on employee versus independent contractor classification under the Fair Labor Standards Act. Effective March 11, 2024, this final rule provides guidance on how employers determine employee versus independent contractor status. Relying on a multifactor economic reality test, the […]
ESOPs May Be the Key to Operating Tax-free in the Cannabis Space
Cannabis operators focus heavily on tax mitigation, employee retention, growth strategies, and profitable exit. A properly structured ESOP is a great tool to accomplish all those goals and more. In a recent webinar, “Cannabis ESOPs – The Industry Game Changer”, AAFCPAs’ David McManus, CPA, CGMA, Tax Partner & National Cannabis Practice Leader and Joshua England, LLM, Esq., […]
Are You Prepared for an Office of Pharmacy Affairs (OPA) Audit?
340B Report (May 16, 2024) – All entities who participate in the 340B program are subject to an Office of Pharmacy Affairs (OPA) audit regardless of entity type, size or volume of transactions. For the last five years, HRSA’s OPA has been completing approximately 200 audits a year and, as of May, 2024, 19 audits […]
Unlocking the CFO’s Role in Digital Transformation 2024
Unlocking the CFO’s Role in Digital Transformation | Webinar OnDemand Watch AAFCPAs’ Fractional CFOs and Business Process Architects as they embark on a journey to empower attendees with actionable insights and strategies to enhance their finance function. Given the CFO’s pivotal role in driving efficiency and data-informed insight, we’ll help attendees set the stage for […]