Tax Planning & Compliance
Watch Now: 2020 Tax Planning Webinar: Guidance for Individuals
In 2020, tax planning is more complicated than usual. It may be daunting to understand brackets and rates, where and when to retire, capital gains, and what to do with retirement plans. In this 1 hour webinar, AAFCPAs Tax & Wealth Advisors cover what taxpayers need to know for 2020 year-end, as well as year-round […]
Sunsetting Tax Exemption: $11.58M Estate Tax Exemption Could Decrease to $3M on Jan, 1, 2021
“When I first started practicing tax law in 2000, the federal estate tax exemption was $675,000,” said Josh England, LLM, Esq., AAFCPAs’ Consulting Tax Attorney. “Today that exemption is $11,580,000.” The federal estate tax exemption is the amount you may give away during your lifetime and own at your death without subjecting it to a […]
AAFCPAs Releases 2020-2021 Tax Planning Guide for Businesses & Individuals
In 2020, tax planning is more complicated than usual. We now have a full view of the impact of United States’ massive 2017 Tax Cuts and Jobs Act (TCJA) and the 2019 Further Consolidated Appropriations Act on clients’ short and longer-term tax planning strategies. We must now evaluate these Acts in tandem with the $2.2 […]
Tax Planning Webinar: Guidance for Businesses Approaching 2020 Year End
In 2020, tax planning is more complicated than usual. It may be daunting to understand what to withhold, or not withhold; where to file or not file; where to retire or not retire; or where to expand or not expand. In this 1 hour webinar, AAFCPAs Tax Advisors will cover what Business Owners, CFOs, and […]
AAFCPAs’ Tax Attorney Provides Practical Tips and Strategies for How to Handle State and Federal Tax Controversy
AAFCPAs’ Partner and Tax Attorney Joshua England, LLM, Esq will share practical tips and strategies on how to anticipate state and federal tax controversy in a live webcast on October 7th, 2020 from 12:00 – 1:00 pm ET. Josh will be joined by Jon S. Barooshian, Esq., Partner at Bowditch & Dewey, Attorneys. In recent […]
AAFCPAs Welcomes New Tax Director to Support Growing Complexities of Multi-State Taxation
Boston, MA (August 31, 2020) – AAFCPAs, a 240+ member CPA and consulting firm known for tax, assurance, accounting, wealth management, business process, and IT advisory solutions, today announced the addition of Kelly Zack, MST, Director, State & Local Tax. Kelly has almost 20 years of state tax consulting experience within both public accounting and […]
Multi-State Worker Tax Considerations
AAFCPAs would like to make clients aware that Congress has introduced a bill under H.R. 7968 that would limit a state’s ability to tax nonresident telecommuters. The general rule is that an employee pays income taxes to the state where wages are earned, which can be different than the state where the employee lives. This […]
IRS Deadline to Return RMDs is Aug. 31
AAFCPAs reminds clients who are IRA owners, beneficiaries or workplace retirement plan participants and received a Required Minimum Distribution (RMD) this year that they have until August 31 to rollover or repay the distribution to avoid paying taxes. The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, waives RMDs during 2020 for IRAs […]
IRS Issues Guidance on Deduction for FDII, GILTI
AAFCPAs would like to make clients aware that the IRS and Treasury issued final regulations recently covering the Section 250 deduction for foreign-derived intangible income (FDII) and global intangible low-taxed income (GILTI). FDII and GILTI were introduced to US tax law as part of the 2017 Tax Cuts and Jobs Act and apply to domestic […]