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AAFCPAs’ #GivingTuesday Match Donates Over $22K to Charities

AAFCPAs’ #GivingTuesday Match Donates Over $22K to Charities

AAFCPAs participated again this year in #GivingTuesday, December 3rd, 2019, a global generosity movement! Collectively, the firm and its 220+ team members donated $22,500 to mission driven nonprofits! What’s our giving story? For #GivingTuesday, AAFCPAs and our company-sponsored Charitable Foundation match employee gifts 1:1 (100%) to any charitable nonprofit 501(c)(3) from November 3 – December […]

How Secure Is Your Physical Office Space?

Data and IT Security goes well beyond cyberspace. The security of your physical office space may also be at risk. A successful physical breach by an outsider could produce unauthorized access to packages, equipment, documents, as well as threats of theft and employee safety. AAFCPAs has outlined for your considerations some best practice recommendations to […]

IRS Provides Tax Inflation Adjustments for Tax Year 2020

AAFCPAs would like to make clients aware that the Internal Revenue Service (IRS) announced tax year 2020 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2019-44 provides details about these annual adjustments. The tax year 2020 adjustments generally are used on tax returns […]

Upstream Trusts May Be Solution to Eliminate Capital Gains

In light of recent increases in limits for federal estate tax exemptions under the Tax Cuts and Job Acts (TCJA), AAFCPAs advises clients to consider the suitability of an Upstream Trust as a strategy for taxpayers who have highly appreciated assets to save money on capital gains tax. Upstream Trusts are a new option that […]

Charter Schools Not Exempt from MA Paid Family and Medical Leave Law

AAFCPAs would like to make charter school clients aware that the Massachusetts Department of Family and Medical Leave recently issued a policy clarification related to certain excluded employers of the new Paid Family and Medical Leave (PFML) law. Municipalities, districts, political subdivisions, and other agencies are excluded from PFML law unless they choose to opt-in. […]

Hosting Service and Auditor Independence

AAFCPAs would like to make clients aware that the AICPA’s Professional Ethics Executive Committee (PEEC) has issued a new interpretation of AICPA’s independence rule, Hosting Service. The new interpretation, effective July 1, 2019, applies specifically to CPA firm attest clients and prohibits CPA firms from providing Hosting Services to these clients. As you may know, […]

New Revenue Recognition Accounting for Nonprofits: Contribution or Exchange Transaction?

On June 21, 2018, the Financial Accounting Standards Board (FASB) issued a final Accounting Standards Update (ASU) 2018-08, Not-For-Profit Entities (Topic 958): Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made. This ASU clarifies and reduces the current diversity in practice in accounting for grants and contributions, particularly for grants and […]

Carla McCall Shares How AAFCPAs Put Innovation to Work

AAFCPAs’ Co-Managing Partner Carla McCall, CPA, CGMA presented a best practices session titled: Putting Innovation to Work: Moving from Ideas to Action at Upstream Academy’s Best Practices 2019 annual conference for CPA firm leadership teams. The desire to improve is one of the hallmarks of a high-performance firm. It is difficult to move from desire […]

AAFCPAs’ Chief Talent Officer and New Director of Talent Advancement Support Continued Growth

AAFCPAs is pleased to announce Donna M. Angelico is promoted to Chief Talent Officer (CTO) and Ingrid Goldbloom Bloch joins the firm as Director, Talent Advancement. Donna M. Angelico As CTO, Donna leads AAFCPAs’ Talent Management function and helps maintain our unique and authentic company culture—one that genuinely cares for the individual, expects honesty and […]

October is National Cybersecurity Awareness Month

October is National Cybersecurity Awareness Month

Held every October, National Cybersecurity Awareness Month (NCSAM) is a collaborative effort between government and industry to raise awareness about the importance of cybersecurity and to ensure that all Americans have the resources they need to be safer and more secure online. The Business & IT Security practice at AAFCPAs has published the following insights […]