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DEA Rescheduling: Recommendations for the U.S. Senate Finance Committee

DEA Rescheduling: Recommendations for the U.S. Senate Finance Committee

The DEA’s recent rescheduling decision ushers in significant and welcomed financial implications to the cannabis industry, particularly regarding taxation—Internal Revenue Code Section 280E. AAFCPAs’ expertise was recently sought by the U.S. Treasury and Senate Finance Committee for guidance on critical considerations regarding the 280E transition following DEA rescheduling news. Rescheduling marks an important step toward […]

How Life Sciences May Be Affected by New Administration Tax Policies

How Life Sciences May Be Affected by New Administration Tax Policies

In this article: For clients in the life sciences, tax policies often hinge on a shifting political landscape. This means, each new administration may signal changes that could reshape strategies in the coming year and beyond. Understanding emerging policies will be key in 2025 for areas like M&A timing, R&D cost management, and structuring for […]

IRS Delays $600 Threshold Changes for Form 1099-K Reporting

IRS Delays $600 Threshold Changes for Form 1099-K Reporting

The IRS recently announced a delay in the implementation of the $600 threshold for Form 1099-K reporting. This rule, which would have required third-party settlement organizations (TPSOs) to report aggregate payments greater than $600, was initially set to go into effect in 2024. However, the IRS has pushed back this requirement to give businesses more […]

McCall Joins BBJ for Mentoring Monday Again in 2025

McCall Joins BBJ for Mentoring Monday Again in 2025

Mentoring Monday Highlights Female Leaders and Community Impact Leadership and empowering future generations are central to AAFCPAs’ mission. Carla McCall, CPA, CGMA, managing partner of AAFCPAs and chair of the American Institute of Certified Public Accountants (AICPA), embodies this commitment. Since 2018, Carla has served as a mentor at the Boston Business Journal’s Mentoring Monday […]

Streamlining Operations: How Modern ERP Systems Solve Inefficiencies and Drive Growth

Streamlining Operations: How Modern ERP Systems Solve Inefficiencies and Drive Growth

In this article: Complex nonprofits, especially multi-service health and human services agencies, face the daunting task of managing diverse programs, complex funding streams, and stringent compliance requirements. Fragmented systems and disjointed processes can compound these challenges, leading to inefficiencies and increased administrative workloads. The implementation of a well-designed enterprise resource planning (ERP) system offers a […]

Webinar Recap: Tax Planning for Cannabis Operators

Webinar Recap: Tax Planning for Cannabis Operators

In this article: Navigating the cannabis industry’s complex tax landscape may feel overwhelming, especially given ongoing challenges like Section 280E and potential rescheduling. However, with the right strategies, you can reduce your tax burden, optimize cash flow, and position your brand for growth. AAFCPAs’ 2024 Cannabis Tax Update Webinar, speakers provided valuable insights on overcoming […]

AAFCPAs Celebrates John Casassa as Emerging Leader Award Recipient

AAFCPAs Celebrates John Casassa as Emerging Leader Award Recipient

AAFCPAs is proud to spotlight our 2023 Emerging Leader Award recipient, John Casassa, CPA, MBA, MST. This annual peer-nominated award recognizes individuals who showcase strong leadership attributes, including spearheading initiatives, generating innovative ideas, communicating effectively, demonstrating a strong commitment to the firm’s objectives, and delivering tangible results. John consistently demonstrates a commitment to excellence both […]

AAFCPAs Speaks on Navigating School Facilities Expansion

AAFCPAs Speaks on Navigating School Facilities Expansion

On December 11, 2024, AAFCPAs’ David Kelleher, CPA, CGMA, Partner spoke at the Association of Independent Schools New England’s (AISNE) virtual webinar, How Schools Confidently Navigate Facilities Expansion. This session featured insights for Heads, Assistant Heads, CFOs, COOs, advancement leads, and others involved in the financial planning of major facilities projects. Panelists explored the practicalities […]

Maximize Your Business Sale Value: Why Accurate Financials Matter

Maximize Your Business Sale Value: Why Accurate Financials Matter

In this article: Businesses considering a sale, merger, Unsolicited Friendly Offer (UFO), or even a partial sale in exchange for a significant outside investment typically hear one piece of advice: Ensure your books are in order. Clean, accurate, and up-to-date financial records are essential for transaction success, particularly as prospective buyers or investors demand greater […]