The Markets React to Viral Outbreak
Like you, we too are monitoring the warning from the CDC on Tuesday that the US should prepare for severe disruptions to everyday life as it relates to the Coronavirus. As you can expect, we are keeping a close eye on the related 1,900-point drop to the DOW. Indeed, it is a scary time, but […]
AAFCPAs’ Janice O’Reilly to Serve as Treasurer of MassVentures
AAFCPAs is excited to announce Janice O’Reilly, CPA, CGMA, Partner in the Consulting Division of AAFCPAs and leader of the Managed Accounting Solutions (MAS) practice, has been appointed and agrees to serve as Treasurer of MassVentures. MassVentures is a quasi-public venture capital firm focused on fueling the Massachusetts innovation economy by funding early-stage, high-growth startups […]
AAFCPAs David Consigli, CPA, ABV to Present at Academy of Professional Family Mediators
David Consigli, Jr., CPA, ABV, AAFCPAs’ Director of Business Valuations, will lead an educational Webinar on February 25th titled “Introduction to Business Valuation” for members of the Academy of Professional Family Mediators (APFM). Dave is passionate about creating client-centered processes for resolving conflict. 100% of divorces involve financial settlements, and in an effort to resolve […]
Tax Savings for Cannabis Businesses with Cost Segregation Study
AAFCPAs would like to remind cannabis clients that placed in service in 2019 (or will soon be placing in service) capital expenditures (CAPEX), often in excess $10 million, to have a cost segregation study performed to provide tax savings and additional benefits, including reduced property taxes, improved property management, and improved ability to identify investments […]
AAFCPAs Welcomes Consulting Controllers to Support Steady Growth of Managed Accounting Solutions Practice
Boston, MA (2/13/2020) – AAFCPAs, a best-in-class CPA and consulting firm known for assurance, tax, accounting, wealth management, valuation, business process, and IT advisory solutions, today announced the addition of Consulting Controllers Scott Alexander and Amy Staunton, CPA. Scott and Amy join AAFCPAs’ growing Managed Accounting Solutions (MAS) Practice, which provides high-quality, cost-effective, cloud-based accounting […]
Catalysts Affecting Your Investments
As you may recall, one year ago we were discussing the tug-of-war between fear and greed. The fourth quarter of 2018 presented some of the worst stock market declines in decades. 2019 was a much different story in which most investments, including domestic stocks, real estate investment trusts, foreign stocks, and bonds, had strong synchronized […]
IRS Issues Guidance for Nonprofits Claiming a Refund or Credit for the Parking Tax
AAFCPAs is excited to share that the IRS has released much anticipated guidance to help nonprofits understand how to claim a refund or a credit of unrelated business income tax (UBIT) or adjust their form 990-T for qualified transportation fringe amounts. As a reminder, the Further Consolidated Appropriations Act, 2020 retroactively repealed Internal Revenue Code […]
Form 1099-DIV Compliance Reminder & How to Determine Taxable Dividends
As the cannabis industry matures in Massachusetts, and investors begin to reap what they sowed, AAFCPAs reminds clients classified as Subchapter C corporations who paid distributions to shareholders in 2019 of their potential Form 1099-DIV compliance filing due to the Internal Revenue Service (IRS) by February 28, 2020 (or March 31, 2020 if e-filing). In […]
How the SECURE Act May Change Your Retirement Savings
AAFCPAs Wealth Management would like to make clients aware that the recent federal government spending package, signed by the president in mid-December, included the SECURE Act, or the Setting Every Community Up for Retirement Enhancement legislation. The legislation contains significant changes to Individual Retirement Account (IRA) rules, company sponsored retirement plans, and several other changes […]