Tax Relief for Low-Income Housing Tax Credit and Bond Participants
AAFCPAs would like to make clients aware that, in response to the COVID-19 pandemic, the Internal Revenue Service announced it is providing low-income housing tax credit (LIHTC) participants temporary relief from key program requirements. The relief is detailed in Notice 2020-53 released on July 1st, 2020. This guidance relaxes certain LIHTC requirements under Section 42 of […]
eBook: Best Practices for Reducing IT & Cyber Risks
Cyber threats are continuously evolving, with new structures and schemes emerging daily. This everchanging landscape of both cyber security and its infiltrators makes it difficult for individuals and corporations alike to know how to protect their Personally Identifiable Information (PII), client records, proprietary information, and other sensitive data.
Stock Market Volatility Complicates Investment Advice
It’s been a worrying few months financially since the coronavirus pandemic hit in March – and that’s for those who’ve kept their job or their business in operation. A recession began in February and worsened quickly when businesses were forced to close in an effort to curtail the spread of the virus and sent the […]
Carla McCall of AAFCPAs Elected to AICPA Board of Directors
AAFCPAs is excited to share that Carla McCall, CPA, CGMA has been officially elected to serve as a member of the Board of Directors of the American Institute of Certified Public Accountants (AICPA) for a three-year volunteer term beginning in May 2020 and ending in 2023. She joins a distinguished executive committee of the AICPA […]
Overcome Cyber Security Challenges of a Remote Workforce
COVID-19 has challenged businesses to think about operations in a new way, and in many cases, your IT specialists may be supporting students and faculty for the first time ever that were never intended or conceived to be remote or fully remote. With an increased risk of students and faculty falling prey to cyber-attacks, AAFCPAs […]
The Current Economy Presents Opportunities in Estate Planning
The current economic environment presents opportunities for high-net-worth individuals to maximize the benefits of estate planning to leverage tax exemptions and insulate your assets. Why is now a good time for estate planning? How can you maximize estate tax exemptions, market values, and interest rates while maintaining control of your assets? In initial consultations with […]
Five Internal Control Modifications Needed in Response to the ‘New Normal’
Some organizations’ internal control frameworks and operational processes did not skip a beat when faced with the disruptions caused by COVID-19. Especially those who had already implemented cloud-based systems and remote-enabled processes. Others were forced to “change the tire while driving.” During this pandemic, organizations have been challenged by processes executed with fewer people and […]
Guidance on the SBA’s New Applications for PPP Loan Forgiveness
On June 16th the Small Business Administration (SBA) released a series of new applications and instructions for the forgiveness calculation for the Paycheck Protection Program (PPP) loans. The application has been broken down into two documents: application and instructions. A new, simpler EZ form with corresponding instructions has also been introduced. AAFCPAs has provided for […]
Charter Schools Connect: Managing the Remote Business Office
COVID-19 has challenged businesses to think about operations in a new way. In this 11-minute webcast, AAFCPAs’ Charter School Practice Leaders John Buckley, CPA, CGMA and Nichole Reilly, CPA, MBA share insights and best practice recommendations for Charter School clients about overcoming internal control and segregation of duties challenges for a remote business office. AAFCPAs […]