Richard Weiner
Massachusetts Delays Plan to Tax Online Sales
The Massachusetts Department of Revenue today announced it has revoked its directive to collect sales taxes from out-of-state online retailers starting July 1. Earlier this spring, the Massachusetts Department of Revenue issued a directive aimed at requiring certain out of state vendors to collect sales tax on online sales to Massachusetts customers. The Department’s position […]
FBAR Filing Now Due April 15, Automatic Relief Available
AAFCPAs would like to remind all taxpayers with an annual FBAR filing requirement to be sure to report their foreign assets by the quickly approaching April 18 filing deadline. We would also like to share that automatic relief is available. The IRS and US Treasury recently announced that the Financial Crimes Enforcement Network (FinCEN) will now […]
83(b) Election May Be Beneficial for Stock Subject to Vesting
AAFCPAs would like to make clients aware of the 83(b) election, a beneficial tax treatment that may provide significant tax savings. An 83(b) election may work favorably for you if you have been given restricted property, such as equity. Under IRS code section 83(b), you are able to convert what would normally be ordinary income […]
Payroll Tax Credit Available To Start-ups
AAFCPAs would like to make clients aware of the significant benefits available to small businesses as a result of provisions enacted in the Protecting Americans from Tax Hikes Act of 2015 (“PATH Act”). The Research Credit may now be applied to offset payroll taxes for start-up businesses. Who do these new provisions of the PATH Act […]
Massachusetts DOR Announces Late-File Penalty Relief for Corporate Taxpayers
AAFCPAs would like to make clients aware that the Massachusetts Department of Revenue announced relief for corporate taxpayers affected by the change in federal tax return due dates. The IRS changed the due date for filing calendar year C corporation returns from March 15 to April 15, effective for 2016 tax filings. The Massachusetts legislature […]
States Not Adopting Federal Due Date Change for C Corporations
Please be aware, the IRS changed the due date for filing calendar year C corporation returns from 3/15 to 4/15 (or the 15th day of the fourth month following the close of the corporation’s fiscal year). Although most states have adjusted their statutes or administrative rulings to accommodate the Federal change, there are three states […]
AAFCPAs Julie Chevalier and Rich Weiner to Present at the MSCPA State Tax Conference on Multistate Tax Nexus & Apportionment
AAFCPAs Tax Partners Julie Chevalier and Richard Weiner will present an educational workshop at the Massachusetts Society of CPA’s (MSCPA) State Tax Conference scheduled for January 17th, 2017. This technical session is part of the MSCPA’s annual State Tax Conference. Multistate Tax Nexus and Apportionment is more complex and demanding than ever before, and state […]
AAFCPAs’ Guidance in the Home Stretch for 2016 Year-End Tax Planning
Throughout the year, AAFCPAs shares insights designed to help individuals and businesses manage their tax liabilities in light of each person or company’s unique circumstances–and to encourage clients to consider tax planning as a year-round, ongoing discipline. Personal and business circumstances are always evolving, presenting opportunities to balance or adjust short-term activities that support a […]
2017 Standard Mileage Rates
The IRS has issued the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on January 1, 2017, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 53.5 cents per mile for […]