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October Designated National Cybersecurity Awareness Month
October kicks off National Cybersecurity Awareness Month (NCSAM), which is dedicated to raising public awareness on the importance of cybersecurity. Launched in 2004 by the U.S. federal government, NCSAM aims to encourage businesses and individuals to investigate potential risk along with strategies to improve the security of critical infrastructure. Where To Start The threat landscape […]
CECL Standard’s Significant Impact on Financing and Trade Accounts Receivable
AAFCPAs Provides Business Guidance on FASB’S New CECL Model Guidance May Have a Significant Financial Reporting Impact on Financing and Trade Accounts Receivable The long-awaited Current Expected Credit Losses (CECL) Standard, Accounting Standards Update 2016-13 – Financial Instruments-Credit Losses (Topic 326) will be effective for nonpublic business entities and not-for-profit entities for fiscal years beginning after […]
From the Desk of Carmen Grinkis
Clients often come to us because of some kind of transition or challenge. They may be heading into retirement, navigating a divorce, or coping with the loss of a loved one. In all these cases, there is so much more to consider than how investments are performing. Especially as we age, we find ourselves building […]
From the Desk of Jonathan Bloom
On the Desk This time of year, we have an opportunity to step back and understand how things are progressing with your financial plan. Between interest rates, inflation, market volatility, and year end on approach, there is plenty to consider and still time to make strategic adjustments. It brings to mind one of my favorite […]
Colorado and Minnesota Impose Retail Delivery Fee
AAFCPAs’ State & Local Tax (SALT) practice would like to make clients aware that the state of Colorado and Minnesota have enacted a retail delivery fee. Colorado Updates Rule The state of Colorado originally imposed a fee of $0.27 on all retail sales delivered by motor vehicle to Colorado customers effective July 2, 2022. This […]
FQHCs Prepare for National Cybersecurity Awareness Month
FQHCs are faced with an ever-shifting cybersecurity landscape due to emerging technologies and shifting internal and cloud vulnerabilities. Adding to this are regulations designed to keep pace as well as the data (health and personally identifiable) that live through their systems. The U.S. federal government has designated October as National Cybersecurity Awareness Month (NCSAM). AAFCPAs […]
IRS Offers Relief to Taxpayers Affected by Hurricane Lee
AAFCPAs and AAF Wealth Management would like to make clients aware that the IRS has offered tax relief for businesses and individuals affected by Hurricane Lee. Taxpayers in all 16 counties in Maine and all 14 counties in Massachusetts automatically qualify for relief as part of a coordinated federal response. Affected taxpayers now have until […]
From the Desk of Kevin Hodson
On the Desk The Federal Reserve just concluded their most recent Federal Open Market Committee (FOMC) meeting on 9/20. In the post-meeting presser Wednesday afternoon, Fed Chairman Jerome Powell indicated that the Fed is “close to done raising interest rates.” However, they’re not about to ease up on the Federal Funds Rate which presently stands at 5.25% […]
From the Desk of Andy Hammond
On the Desk The last few months of the year are always a busy time. We’re helping our clients with year-end planning, tax strategies, and budgeting that comes into play with 2024 just around the corner. Last year, the name of the game was tax loss harvesting, and we still have room to be strategic […]