Tax Planning & Compliance
Wait to the last minute on your tax return? Here are some tips.
NBC Boston (April 2,2025)- Tax day is almost here. This year, all federal and state returns must be filed by the April 15 deadline. If you’re dreading doing your taxes, you’re not alone. Nearly a third of Americans admit to procrastinating and waiting until the last minute to file their paperwork. Tomas Pueyo, a tax manager […]
Tax and Accounting Implications in Buy-Side Business Transactions
Understanding the myriad tax implications of a buy-side business acquisition is essential to achieving a successful outcome. The way you structure the deal and approach due diligence can influence your financial results and help to avoid costly pitfalls. With the right strategies, you can identify opportunities to maximize tax benefits and streamline the integration process. […]
BOI Reporting Update: Court Reinstates Requirements, FinCEN Extends Deadline to March 21, 2025
On February 18, 2025, the U.S. District Court for the Eastern District of Texas reinstated the controversial BOI reporting mandate. Fortunately, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) granted extra time to file, extending the deadline for beneficial ownership information (BOI) reporting under the Corporate Transparency Act (CTA). Most reporting companies […]
Tax Planning For Life Sciences Amid Shifting Policies
Life Science Leader (February 11,2025) – In the life sciences sector, maintaining a strategic approach to tax planning has become increasingly complex, especially with ongoing regulatory changes affecting mergers, acquisitions, and how we treat research and development (R&D) expenses. Such tax policy shifts can directly affect corporate structure decisions, overall business strategy, and the ability […]
Tax Misinformation Poses Real Risk
With tax season upon us, misinformation about tax strategies becomes widespread, often circulating through social media, casual conversations, and well-meaning but inaccurate advice from friends or colleagues. In fact, the IRS recently issued a consumer alert warning of increased misinformation on social media, such as promises of inflated refunds or non-existent tax loopholes. Relying on […]
Pop-Up BOI Mills Raise Concerns About Data Security
AAFCPAs would like to make clients aware of pop-up Business Owner Information (BOI) mills promising to assist with compliance filings. These filings aim to boost transparency by identifying individuals who own or control a business. The injunction against the Corporate Transparency Act remains in effect, and reporting companies are not required to file beneficial ownership […]
Updates: Beneficial Ownership Information (BOI) Reporting Requirements
The Corporate Transparency Act (CTA) introduced significant changes to reporting requirements for millions of small businesses, with the aim of combating money laundering and enhancing transparency. However, ongoing legal challenges have created uncertainty regarding compliance deadlines and enforcement. AAFCPAs is following developments closely and will share updates as appropriate. The following aims to provide the […]
MA Form 3ABC due by 3/1 to avoid local property taxes
Editor’s Note: This article was updated in 2025 for accuracy and relevance. The Massachusetts Return of Property Held for Charitable Purposes Form 3ABC provides for an exemption from local taxation on personal and real property for eligible charitable organizations. As a reminder, to be exempt, you must file an annual Form 3ABC, due at the Assessor’s […]
Field, Zack Appointed as Tax Partners
Boston, MA (January 29, 2025) — AAFCPAs, a U.S. top 100 CPA and consulting firm, is pleased to announce the promotion of Stacie Amaral Field, CPA, MBA and Kelly Zack, MST to Tax Partners, both invaluable leaders and advisors in AAFCPAs commercial tax practice. Join us in congratulating Stacie and Kelly on their well-deserved promotions. This […]