Shauna Harvey, CPA, Joins AAFCPAs to Lead Learning & Development Initiatives
Boston, MA (February 24, 2025)—AAFCPAs, a preeminent 350+ employee CPA and consulting firm specializing in tax, assurance, accounting, wealth management, business process, and IT advisory solutions, is pleased to announce that Shauna Harvey, CPA, has joined the firm as Learning and Development Manager. Her unique expertise in accounting, tax, and talent development strengthens the firm’s […]
BOI Reporting Update: Court Reinstates Requirements, FinCEN Extends Deadline to March 21, 2025
On February 18, 2025, the U.S. District Court for the Eastern District of Texas reinstated the controversial BOI reporting mandate. Fortunately, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) granted extra time to file, extending the deadline for beneficial ownership information (BOI) reporting under the Corporate Transparency Act (CTA). Most reporting companies […]
Tax Planning For Life Sciences Amid Shifting Policies
Life Science Leader (February 11,2025) – In the life sciences sector, maintaining a strategic approach to tax planning has become increasingly complex, especially with ongoing regulatory changes affecting mergers, acquisitions, and how we treat research and development (R&D) expenses. Such tax policy shifts can directly affect corporate structure decisions, overall business strategy, and the ability […]
Tax Misinformation Poses Real Risk
With tax season upon us, misinformation about tax strategies becomes widespread, often circulating through social media, casual conversations, and well-meaning but inaccurate advice from friends or colleagues. In fact, the IRS recently issued a consumer alert warning of increased misinformation on social media, such as promises of inflated refunds or non-existent tax loopholes. Relying on […]
Pop-Up BOI Mills Raise Concerns About Data Security
AAFCPAs would like to make clients aware of pop-up Business Owner Information (BOI) mills promising to assist with compliance filings. These filings aim to boost transparency by identifying individuals who own or control a business. The injunction against the Corporate Transparency Act remains in effect, and reporting companies are not required to file beneficial ownership […]
New IRS Rule Deems Catch-Up Contributions After-Tax for Select Participants
The Department of the Treasury and the IRS recently issued proposed regulations addressing key changes under the SECURE 2.0 Act focused on catch-up contributions for 401(k) and similar retirement plans. Catch-up contributions are additional contributions allowed by employees who are age 50 or older. These updates are significant for plan administrators and participants alike. The […]
Strengthening Cybersecurity: Key Actions to Mitigate Evolving Threats
Boost Your Cybersecurity with These Essential Tips In today’s interconnected world, cybersecurity threats are escalating at an alarming pace. From sophisticated ransomware campaigns to targeted phishing schemes, these attacks underscore the evolving strategies of cybercriminals and the vulnerabilities in current security infrastructures. Several factors contribute to the recent increase in cyber threats. The widespread adoption […]
Updates: Beneficial Ownership Information (BOI) Reporting Requirements
The Corporate Transparency Act (CTA) introduced significant changes to reporting requirements for millions of small businesses, with the aim of combating money laundering and enhancing transparency. However, ongoing legal challenges have created uncertainty regarding compliance deadlines and enforcement. AAFCPAs is following developments closely and will share updates as appropriate. The following aims to provide the […]
Helping Clients Get Audit-Ready: How Advisory Team Supports Auditors
AAFCPAs’ Outsourced Accounting & Fractional CFO Practice Helps Make Audits Smoother and More Efficient As year-end approaches, many finance teams and their external auditors navigate the season’s challenges with a shared goal: ensuring financials are audit ready. Disorganized records, such as missing invoices and agreements, or unreconciled general ledgers can add unnecessary complexity to this […]