Topic
CHIA Announces Cost Report Due Date for 2019 as May 4, 2020, Regardless of Fiscal Year End
AAFCPAs would like to make our Massachusetts-based Community Health Center (CHC) clients aware that the Center for Health Information and Analysis (CHIA) has just announced it is now collecting cost reports for the fiscal year ending in 2019. All CHCs, regardless of Fiscal Year End date, are required to file their fiscal year 2019 cost […]
Employment Tax Liability Not Shifted to Professional Employer Organizations
AAFCPAs would like to remind cannabis clients using or considering use of a Professional Employer Organization (PEO) that the employment tax liability is most often not shifted from your company, its management and owners, to the PEO. This is a common misconception, so much so, that the Internal Revenue Service issued regulations to help address […]
AAFCPAs’ Hui-Ting Grady, CPA, MBA Earns Advanced Single Audit Certificate
AAFCPAs Assurance Manager Hui-Ting Grady, CPA, MBA is now among an elite group of CPAs in the country who have earned the Advanced Single Audit Certificate from the American Institute of CPAs (AICPA)’s Governmental Audit Quality Center. This advance level certificate is designed for auditors with seven or more years of experience in performing and […]
The Markets React to Viral Outbreak
Like you, we too are monitoring the warning from the CDC on Tuesday that the US should prepare for severe disruptions to everyday life as it relates to the Coronavirus. As you can expect, we are keeping a close eye on the related 1,900-point drop to the DOW. Indeed, it is a scary time, but […]
AAFCPAs David Consigli, CPA, ABV to Present at Academy of Professional Family Mediators
David Consigli, Jr., CPA, ABV, AAFCPAs’ Director of Business Valuations, will lead an educational Webinar on February 25th titled “Introduction to Business Valuation” for members of the Academy of Professional Family Mediators (APFM). Dave is passionate about creating client-centered processes for resolving conflict. 100% of divorces involve financial settlements, and in an effort to resolve […]
Tax Savings for Cannabis Businesses with Cost Segregation Study
AAFCPAs would like to remind cannabis clients that placed in service in 2019 (or will soon be placing in service) capital expenditures (CAPEX), often in excess $10 million, to have a cost segregation study performed to provide tax savings and additional benefits, including reduced property taxes, improved property management, and improved ability to identify investments […]
AAFCPAs Welcomes Consulting Controllers to Support Steady Growth of Managed Accounting Solutions Practice
Boston, MA (2/13/2020) – AAFCPAs, a best-in-class CPA and consulting firm known for assurance, tax, accounting, wealth management, valuation, business process, and IT advisory solutions, today announced the addition of Consulting Controllers Scott Alexander and Amy Staunton, CPA. Scott and Amy join AAFCPAs’ growing Managed Accounting Solutions (MAS) Practice, which provides high-quality, cost-effective, cloud-based accounting […]
Catalysts Affecting Your Investments
As you may recall, one year ago we were discussing the tug-of-war between fear and greed. The fourth quarter of 2018 presented some of the worst stock market declines in decades. 2019 was a much different story in which most investments, including domestic stocks, real estate investment trusts, foreign stocks, and bonds, had strong synchronized […]
Form 1099-DIV Compliance Reminder & How to Determine Taxable Dividends
As the cannabis industry matures in Massachusetts, and investors begin to reap what they sowed, AAFCPAs reminds clients classified as Subchapter C corporations who paid distributions to shareholders in 2019 of their potential Form 1099-DIV compliance filing due to the Internal Revenue Service (IRS) by February 28, 2020 (or March 31, 2020 if e-filing). In […]