Topic
Treasury, IRS guidance on reporting qualified sick & family leave wages
AAFCPAs would like make clients aware that the Treasury Department and the IRS issued guidance to employers about reporting on Form W-2 the amount of qualified sick and family leave wages paid to employees for leave taken in 2021. The notice provides guidance under recent legislation, including: the Families First Coronavirus Response Act (FFCRA), as […]
Budgeting Add-Ons Create Efficiency and Ease
Today’s more robust Accounting and ERP Systems typically have budgeting functionality built into the platform. For many complex organizations, however, they may still not quite meet your current budgeting and reporting requirements. How do you know you need a budgeting add-on? While most systems will allow for the import of a completed budget and allow […]
Pay for Success: a funding model with data at its core
There is at long last solid momentum gathering behind the pay-for-success (PFS) model of funding socially oriented projects and services: a shift in approach that emphasizes outcomes rather than activities. Through PFS contracts, the ecosystem of investors, government, and service providers is working together to create new opportunities and meet more impactful social goals. PFS […]
Treasury, IRS provide gross receipts safe harbor for employers claiming the Employee Retention Credit
AAFCPAs would like to make clients aware that the Treasury and the IRS recently issued a safe harbor allowing employers to exclude certain items from their gross receipts solely for determining eligibility for the Employee Retention Credit (ERC). These amounts are: The amount of the forgiveness of a Paycheck Protection Program (PPP) Loan; Shuttered Venue […]
AAFCPAs’ 2021 CFO Survey Finds Data Management Is Catalyst for Change
CFOs seek better inputs, predictability, and the talent to translate data Boston, MA (August 10, 2021) – AAFCPAs, a best-in-class CPA and consulting firm known for assurance, tax, accounting, wealth management, valuation, business process, and IT advisory solutions, today released its 2021 CFO Survey Report. The survey found that across the board, CFOs are prioritizing […]
Treasury, IRS Provide Additional Guidance on Employee Retention Credit, Including for the Third and Fourth Quarters of 2021
AAFCPAs would like to make clients aware that the Treasury Department and the Internal Revenue Service issued further guidance on the employee retention credit, including guidance for employers who pay qualified wages after June 30, 2021, and before January 1, 2022, and additional guidance on miscellaneous issues that apply to the employee retention credit in […]
Paid leave credit available for providing leave to employees caring for individuals obtaining or recovering from a COVID-19 immunization
AAFCPAs would like to make clients aware, the IRS updated frequently asked questions (FAQs) on the paid sick and family leave tax credits under the American Rescue Plan Act of 2021 (ARP). The updates clarify that eligible employers can claim the credits for providing leave to employees to accompany a family or household member or […]
Grinkis Earns Advanced Life Insurance Underwriting Designation
Carmen Grinkis, Wealth Advisor and Co-Managing Partner of AAF Wealth Management, recently earned a Chartered Life Underwriter® (CLU®) designation, which certifies she obtained expertise that exceeds basic life insurance underwriting requirements. In addition to the CLU®, Carmen has a PhD in Clinical Psychology, a Certification in Long-Term Care (CLTC®), and she is a licensed investment […]
Business Exit Strategy Planning From All Angles
A significant part of AAFCPAs’ Transaction Advisory Services practice involves convincing business owner clients to plan for an exit well before they are actually ready to leave the business. When asked when they should start planning, we often say “the day you start your business.” Realistically, a meaningful strategy can be put in place 3-5 […]