David McManus, CPA, CGMA
Dave leads AAFCPAs’ Commercial Tax Practice and the firm’s Cannabis Business Practice, providing highly coveted tax, entity structure, and business advisory solutions. He has over three decades of proven experience advising manufacturers & distributors, real estate developers, high tech, bio tech, renewable energy, and cannabis businesses.
Dave’s areas of expertise include advising U.S. companies with foreign subsidiaries, as well as foreign companies doing business in the U.S. He provides U.S. Market Entry Point Consulting, advising international commercial corporations and nonprofits seeking to enter U.S. markets via Boston, MA. Dave’s guidance allows these multinational organizations to optimize their global growth and expansion plans, minimize regulatory and tax risks, and increase their competitive advantage in the U.S. He provides tax efficient business entity structuring of U.S. operations, certification of tax residency, as well as corporate and multi-state income/franchise tax planning and compliance, sales and use tax consulting and compliance, transfer pricing/customs valuations, ASC 740 tax provisions, and due diligence for mergers and acquisitions.
Dave’s pragmatic expertise is highly sought-after because he understands how tax impacts decisions throughout all stages of a business life cycle. He advises clients on the impact of tax code changes, such as the CARES Act and the Tax Cuts and Jobs Act, including emerging requirements that could impact economic stability and practical steps to take in response. Dave recommends solutions that are consistent with clients’ overall business environment & objectives, best practices, and in compliance with all applicable tax laws and rules.
Dave is the leader of AAFCPAs’ Cannabis Practice, providing best-in class tax, advisory, accounting & assurance solutions for leading cannabis entrepreneurs and professionals throughout New England. He serves operational retailers, cultivators, and product manufacturers, and has led industry training sessions on the interpretation and implementation of new federal and state marijuana statutes, including compliance with 280E. He has been deeply immersed in understanding the complex nuances of the cannabis industry since 2012, and proactively advises clients on risks and opportunities related to market entry, accounting methods, capital structure, debt financing, R&D, M&A, and goodwill impairment. Dave maintains a strong network of cannabis industry attorneys, bankers, employee compensation and benefits providers, realtors, risk managers, and insurance agents.
Prior to devoting his full attention to strategic leadership of the growing Tax and Cannabis Practices, Dave served as Co-Managing Partner of AAFCPAs for 9 years, where he led the firm through tremendous growth.
- Assumption College – Bachelor of Science, Accounting
- Worcester Business Journal: Cannabis Firms Must Overcome Financial Hurdles
- Boston Business Journal: AG Healey Supports Federal Bill to Legalize Cannabis Banking
- AccountingWEB: What Does Rising Talent Look for in a CPA Firm?
- AccountingWEB: 3 Steps to Staying Sharp Through Our Busy Season
- Accounting Today: A View from the Trenches: Handling the IRS, clients and the other frustrations of tax filing season
- EcoTarium – Trustee and Treasurer
- Assumption College – Accounting Advisory Board, President’s Council
- MSCPA – Management of Accounting Practice Committee
- 15-40 Connection – Central MA Board of Advisors
- Foster Parent