Blog
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Movers & Shakers for Feb. 19, 2024
Worcester Business Journal (February 19, 2024) – AAFCPAs, an accounting consulting firm in Westborough, has promoted four employees to partner. LAUREN DUPLIN joined the firm in 2009 and is a senior member of AAFCPAs’ Fractional CFO & Outsourced Accounting practice, with more than 12 years of experience in auditing. NICHOLE REILLY joined AAFCPAs in 2010 as leader of the […]
AUP vs. QofE Reports in Business Acquisitions
Could Agreed-Upon Procedures (AUPs) serve the purpose of a Quality of Earnings (QofE) report for certain business acquisitions? Buyers engaging in or evaluating potential transactions, mergers, or acquisitions (M&A) need to assess the true value of a business’s assets, liabilities, and intellectual property. Proper due diligence can be used to pinpoint synergies among entities, offer […]
TerrAscend Corp. Joins Other Operators Changing 280E Tax Position
AAFCPAs would like to make cannabis clients aware that TerrAscend Corp., in its fourth-quarter earnings call, announced it would no longer be making tax payments under Section 280E of the Internal Revenue Code. The company’s Chief Financial Officer noted its legal basis in doing so comes from a legal interpretation based on a similar position […]
CARM Set to Transform Canada Imports
This article has been updated. AAFCPAs would like to make clients aware of a significant new requirement related to Canada customs. The Canada Border Service Agency (CBSA) Assessment and Revenue Management (CARM) is a new initiative, which is expected to notably transform how importers interact with Canada Customs. Importers should be aware that CARM will […]
From The Desk of Jonathan Bloom
Last quarter, we spent a lot of time talking about taxes, reviewing last year’s portfolio performance, and projecting income and expenses for the year ahead. Now, we’re focused on applying that insight to your financial plan and making sure there is alignment. I’m also working with many clients who need to set cash aside for […]
AAFCPAs Showcased as Case Study in Digital Intelligence
AAFCPAs is pleased to leverage leading technologies like Digilence in its ongoing commitment to working smarter. Digilence is a cloud-based software platform that digitizes processes for accounting firms—optimizing precision, accuracy, efficiency, and scalability while expanding data-driven insights. By keeping pace with ever-evolving innovations, AAFCPAs helps our clients realize greater value from a firm that already […]
DEA Reconsiders Marijuana Restrictions Following Release of Scientific Review
AAFCPAs would like to make cannabis clients aware of a 250-page scientific review published online recently by Matthew Zorn, an attorney in Texas, after he sued Health and Human Services officials for its release. In this document, federal scientists conclude that marijuana should not be classified as a Schedule I drug. Researchers conclude that marijuana […]
Carla McCall Honored for Outstanding Contributions to Local Economy and Community
AAFCPAs’ Carla McCall, CPA, CGMA, Managing Partner will be inducted to the WBJ’s Hall of Fame, which honors the lifetime achievements of professionals who have made significant contributions to the Central Massachusetts economy and community. This speaks not only to Carla’s vision, advocacy, and influence but also serves as a testament to the company’s tradition […]
From The Desk of Andrew Hammond
Different times throughout the year provide different opportunities to explore certain personal financial planning strategies. At the end of the year, it’s taxes and Required Minimum Distributions (RMDs). But many of our conversations this time of year are about benefits. As we think about personal financial planning and benefits, consider the Health Savings Account (HSA). […]