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AAFCPAs Expands Tax Practice to Meet Growing Client Demand
AAFCPAs Welcomes New Tax Advisors Erica Nadeau, CPA, MST, Tax Partner and Traci Grady, EA, Manager Boston, MA (August 1, 2023)—AAFCPAs, a preeminent 300+ employee CPA and consulting firm specializing in tax, assurance, accounting, wealth management, business process and IT advisory solutions, is pleased to announce the expansion of its tax practice to meet growing […]
Meals & Entertainment Deduction Reverts to Pre-TCJA Law
As of January 1, 2023, the meals and entertainment deduction has reverted to previous guidelines under the Tax Cuts and Jobs Act (TCJA). Put differently, the 100 percent deduction for food or beverages provided by a restaurant has officially expired. The IRS advises that a 50 percent limit on meal expenses applies if that expense […]
AAFCPAs Provides Tax and Business Guidance at Cannabis Industry Conferences
AAFCPAs Provides Tax and Business Guidance at Cannabis Industry Conferences AAFCPAs’ Cannabis Practice leaders David McManus, CPA, CGMA and Joshua England, LLM, Esq. have been invited to present at two industry conferences in August 2023. AICPA & CIMA Cannabis Industry Conference David McManus, CPA, CGMA is pleased to present CAN2315, Taxes: Part 1 at the […]
IRS Audit Risk Areas for Nonprofit Retirement Plan Sponsors
During AAFCPAs’ recent Nonprofit Educational Seminar (April 2023), Employee Benefit Plan Practice leaders Davide Villani, CPA, CGMA and Shawn P. Huxley, CPA, MSA updated 400+ CFO and Executive Director attendees on the IRS’ 2023 strategic focus areas for small exempt organizations that sponsor retirement plans. AAFCPAs audits 180+ plans annually including 401(k) and 403(b) plans, […]
AAFCPAs Invited to Speak at Maine Cannabis Convention
AAFCPAs’ Cannabis Practice leaders David McManus, CPA, CGMA and Joshua England, LLM, Esq. have been invited to speak at the Maine Cannabis Convention/Homegrown Trade Show being held at the Augusta Civic Center in Augusta, Maine. The event will take place on Saturday, August 12 and Sunday, August 13, 2023 from 10 AM to 3 PM. […]
Carla McCall Featured in Inside Public Accounting
Carla McCall Featured in Inside Public Accounting Carla McCall, CPA, CGMA, Managing Partner at AAFCPAs was recently featured in the July 2023 issue of Inside Public Accounting, where she discusses innovation and leadership strategies she used to scale the firm and meet the dynamic challenges of the industry. In this informative interview, Carla discusses: Cutting […]
Massachusetts Offers Charitable Contribution Deduction
As of January 1, 2023, all Massachusetts taxpayers may now deduct charitable contributions on their state return. If you cannot itemize and receive a deduction for charitable contributions on your federal return, you will still be eligible to receive a deduction on your state return. The new deduction is available for contributions made to qualifying […]
Cost-cutting and Efficiency Strategies for Cannabis Operators
After a period of solid growth, cannabis markets in many regions, including Massachusetts, have begun to plateau due to heavy competition and market saturation. While more mature states have been hardest hit, others like Vermont or those still in their growth phase are learning from peers and planning for what comes next. What we advise, […]
SOC Report 2022 Revised Points of Focus
In late 2022, the AICPA updated its guidance on performing System and Organization Controls (SOC) attestations with revised points of focus that offer enhanced context for meeting the criteria in your report. Organizations and their auditors should be aware of the updates and go through an exercise to actively incorporate these revised points of focus […]