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5 Tips for Safe Intrafamily Loans
If a relative needs financial help, offering an intrafamily loan may be a viable solution. But if not properly executed, such loans can carry negative...
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Tax Planning & Compliance
Tax Planning & Compliance
Individual, Family & Fiduciary Tax
Self-Employed Individuals to Claim COVID-19 Sick & Family Leave Tax Credits on IRS Form 7202
AAFCPAs would like to make clients aware that the IRS recently released Form 7202 for eligible self-employed individuals to determine their qualified sick and family...
Business Tax
Deduction Limit Increased for Corporate Cash Contributions for Disaster Relief; IRS Provides Recordkeeping Relief
AAFCPAs would like to make clients aware that the IRS recently announced how corporations may qualify for the new 100% limit for disaster relief contributions...
Richard Weiner
Relaxed Limit on Business Interest Deductions
AAFCPAs would like to remind clients that the Coronavirus Aid, Relief, and Economic Security (CARES) Act temporarily relaxes the limitation on deductions for business interest...
Uncategorized
IRS Issues Early Drafts of International Tax Reporting Forms, Form 5471 & FINCEN 14
AAFCPAs would like to make clients aware that the IRS has issued early drafts of revisions to international tax Forms 5471 and FINCEN14 (formerly known...
Matt McGinnis
Extensions for LIHTC Program
AAFCPAs would like to make clients aware on January 15, 2021, the IRS issued Notice 2021-12, which further extends the temporary relief from certain requirements...
Uncategorized
How Will New COVID-19 Legislation Affect Your Taxes?
The Consolidated Appropriations Act, signed into law on Dec. 27, provides relief in response to the COVID-19 pandemic, including another round of “recovery rebate” payments...
Stephen Lanza
R&D Tax Credit Underutilized by Construction Contractors
AAFCPAs would like to make construction clients aware of potential tax savings that are available to contractors through the use of Research & Development (R&D)...
Growth Story
AAFCPAs Welcomes Ciprian Barna, CPA, MST as Partner in Business Tax Practice
Boston, MA (January 13, 2021) – AAFCPAs, a best-in-class CPA and consulting firm known for tax, assurance, accounting, wealth management, valuation, business process, and IT...
