Financial Planning Opportunities for a Post-280E Environment
Potential changes to IRC Section 280E may create new planning opportunities for cannabis businesses, with broader access to deductions and credits. Early preparation may help...
AAFCPAs would like to make clients aware that on May 17, 2017, the U.S. Office of Management and Budget (OMB) issued a correcting amendment extending the effective/applicability date of the procurement standards under the Uniform Guidance (UG). The procurement standards...
AAFCPAs would like to make clients aware that on May 17, 2017, the U.S. Office of Management and Budget (OMB) issued a correcting amendment extending the effective/applicability date of the procurement standards under the Uniform Guidance (UG).
The procurement standards were one of the areas of significant change under the UG, and nonprofits receiving federal grants and contracts may welcome the OMB’s announcement that they have provided for a grace period for non-federal entities to comply. The grace period allows an extension for implementation of the new procurement rules for three additional full fiscal years after the effective date of the UG.
AAFCPAs provides guidance on how to comply with the procurement standards under the UG, including key components of your written procurement policy. We advise clients receiving federal funding to review the new standards, determine the impact on your organization, and develop a plan now for compliance. AAFCPAs is available to provide guidance on how your audit may be affected by the new UG, as well as to provide recommendations regarding best practices for grant compliance.
If you have questions regarding your procurement procedures, or need additional information regarding grant compliance, please contact your AAFCPAs Partner or Robin Kelley at 774.512.4011, rkelley@aafcpa.com.
Potential changes to IRC Section 280E may create new planning opportunities for cannabis businesses, with broader access to deductions and credits. Early preparation may help...
AAFCPAs' cannabis team will attend Blank Rome's State of the Cannabis Industry Conference in Boston, joining industry leaders for one of the sector's premier forums...
AAF Wealth Management welcomes Julie A. Drainville, CFP®, ChFC®, EA, whose integrated approach to wealth management, tax strategy, estate planning, and long-term stewardship reflects the...