From the Desk of Andy Hammond
On the Desk When asked if there are common themes as we approach the finish line of 2023, there is of course the logistical year-end planning, dotting of I’s and crossing of T’s. But conversations the past few weeks have a common thread of apprehension and unease. Unsurprisingly, the continuous stream of challenging world news […]
IRS Maintains Existing 1099-K TPSO Reporting Threshold for 2023
AAFCPAs would like to make clients aware that the IRS has announced a delay in implementing its new $600 1099-K reporting threshold for third-party settlement organizations (TPSOs), which include payment apps and online marketplaces like PayPal and Venmo, for calendar year 2023. This postpones the start of a 2021 law requiring that third-party settlement organizations […]
AAFCPAs Welcomes Wendy Smith, CPA as Consulting CFO, Processes & Systems
AAFCPAs is pleased to announce the addition of Wendy Smith, CPA as Consulting CFO, Processes & Systems within the firm’s growing Business Process & IT Consulting Practice. This growth comes in response to growing client demand for support with process and systems efficiencies. “I’m thrilled to incorporate my broad-based experience across financial operations and business […]
Chicago Extends Lease Tax to Software as a Service
Although states have not been increasing sales tax rates in general, many have begun to expand their tax base as some lawmakers look at expanding the list of taxable items. Some states are looking to tax digital products such as music, book, and video downloads. Many states also tax various forms of software including Software […]
What To Know About Upcoming 1099 Deadlines
AAFCPAs would like to make clients aware that payments to non-employees, such as contractors and other service providers, in excess of $600 during the calendar year must be reported to The Internal Revenue Service on Forms 1099. If your organization hired consultants in 2023, paid dividends, or orchestrated an intricate debt structure involving a myriad […]
Ripianzi to Present at FEI-Boston/MNN Joint Event
Joyce Ripianzi, CPA, Nonprofit Partner in AAFCPAs’ Fractional CFO & Outsourced Accounting Practice, has been invited to present strategies for improving audit preparation at the joint professional development event, ‘Nonprofit Outlook for 2024: Guidance for the Year Ahead’, held by FEI Boston and the Mass Nonprofit Network. The event will be held on January 10, […]
Jonathan Bloom, CFP®, AIF®, Wealth Advisor Promoted to Partner
Boston, MA (December 11, 2023)—AAFCPAs, a preeminent 300+ employee CPA and consulting firm specializing in tax, wealth management, assurance, accounting, business process and IT advisory solutions, is pleased to announce the promotion of Jonathan Bloom, CFP®, AIF®, Senior Wealth Advisor, AAF Wealth Management to Partner effective January 1, 2024. Jonathan joined AAF Wealth Management in […]
When the new frontier of rescheduling comes, what can cannabis cultivators learn from microbreweries?
With the drive to federalization starting to accelerate, momentum is building around rescheduling cannabis. This would bring a host of changes that are frequently discussed, such as easier access to capital and banking along with the removal of 280E. A crucial big picture issue that is less front and center, however, is the type of […]
Budgeting Software Features for Those Who Love Excel
CFOs and accountants will rightfully admit that Excel has its limitations. Consider the time involved in complex calculations, manual report generation, and meticulous data input due to the inability to download data directly from the bank. Still, despite its limitations, what keeps users loyal to Excel is the joy in working with spreadsheets. But business […]