Topic
AI Aids Cyber Crime, Elevates Need for Vulnerability Management and Employee Training
AAFCPAs would like to make clients aware that leading U.S. intelligence officials recently presented on the elevated risk of cybercrime, hacking, and money laundering stemming from the rise in artificial intelligence (AI). At the International Conference on Cyber Security at Manhattan’s Fordham University, Rob Joyce, Director of Cybersecurity at the National Security Agency, touched on […]
FASB Approves New Guidance on Certain Crypto Assets
AAFCPAs would like to make clients aware that in December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) 2023-08, Intangibles – Goodwill and Other – Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets. Note: the amendments in ASU 2023-08 require that an entity measure “in-scope” crypto assets (as […]
Protect Yourself from AI Voice Scams
Voice impersonations of trusted family members, friends, even presidential candidates by artificial intelligence (AI) have been used to conduct fraud, an issue that’s become so widespread that the Federal Trade Commission released a consumer alert on the subject. In this, officials touched on the rise in chatbots, i.e., computer programs that simulate conversations, deepfakes, i.e., […]
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 […]
Construction Analytics Overview and Software Demo
AAFCPAs’ Construction Practice is pleased to share an informative dialogue about which construction financial analytics are most crucial for controlling costs, ensuring profitability, and managing project efficiency. We also offer a product demonstration presented by ProNovos, a leading financial analytics solution tailored to suit the needs of the construction industry. This webinar OnDemand will reveal […]
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 […]
DOL Audit Quality Study Underscores the Need for Specialized EBP CPA
In November 2023, The U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) published its Audit Quality Study, which outlines work quality as performed by independent qualified public accountants—specifically in employee benefit plan financial statement audits covered under the Employee Retirement Income Security Act (ERISA) during its 2020 filing year. The administration focused on […]
New Tax Relief Bill Could Affect 2023 Filing Season
A bipartisan deal known as the Tax Relief for American Families and Workers Act of 2024 could offer a last-minute extension for previously expired tax credits and breaks. If passed, provisions could affect the current 2023 filing season. Update 2.1.24: Last night, the U.S. House of Representatives passed a bipartisan $70 billion tax relief package. […]
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 […]