Form 2439: What is it? What does it mean to you?

May 19th, 2014

What is Form 2439?  Form 2439, Notice to Shareholder of Undistributed Long-Term Capital Gains is the form required to be issued by regulated investment companies (RICs) and real estate investment trusts (REITs) when there have been undistributed long-term capital gains. What does it mean to me?  If you have received a Form 2439 and there [...]

Not-for-Profit Agency Endowments

April 17th, 2014

On April 17th, 2014, Anstiss & Co.’s Director of Not-for-Profit Services, Jayne A. Andrews, CPA, gave a presentation entitled “Agency Endowments: What They Are and How They Work” at the Greater Lowell Community Foundation. An Agency Endowment Fund is established by a not-for-profit organization for the benefit of the organization to provide an ongoing source of [...]

Raymond Anstiss, Jr. named 2014 Five Star Accounting Professional

February 1st, 2014

Raymond L. Anstiss, Jr., CPA, MBA was recently named one of Boston’s Five Star Accounting Professionals by Boston Magazine and Five Star Professional in the February 2014 edition of Boston Magazine. The Five Star Accounting Professional award recognizes experienced CPAs for the quality service provided to their clients.  Ray was one of just 8 CPAs recognized with [...]

Tax Effects of DOMA Repeal

January 2nd, 2014

With the Supreme Court’s Windsor decision repealing a portion of the Defense of Marriage Act (DOMA), the IRS issued revenue ruling 2013-17.  Regardless of the state the couple lives in, same-sex couples who were legally married in a jurisdiction that recognizes same-sex marriages are married for federal tax purposes.  For our clients in Massachusetts, California, [...]

Affordable Care Act Tax Provisions

January 2nd, 2014

Small employers with 50 or fewer employees can now purchase “affordable” insurance through the Small Business Health Options Program (SHOP). Small employers may be eligible for the Small Business Health Care Tax Credit if they cover at least 50 percent of their full-time employee’s premium costs and have less than 25 full-time equivalent employees with [...]

What is due 1/31/2014? 1099′s & W-2’s for Household Employees

January 2nd, 2014

Does your business need to issue 1099’s? When payments are made in the course of your trade or business totaling $600 or more to an entity other than a corporation for services and certain other payments, your business is required to issue 1099’s to the recipient by January 31, 2014 and furnish a copy to [...]

2014 Retirement & Pension Plan Contribution Limits

January 2nd, 2014

The Internal Revenue Code provides for dollar limitations on benefits and contributions under qualified retirement plans. IRC Section 415 requires the limits to be adjusted annually for cost-of-living increases. On October 31, 2014, the IRS announced cost-of-living adjustments applicable to dollar limitations for pension plans and other items for tax year 2014.  For more information, [...]

Single Audit Changes

December 26th, 2013

On December 26, 2013, the Office of Management and Budget (OMB) issued changes to the (A-133) Single Audit requirements.   Some of the major changes, which are effective for years beginning on or after January 1, 2015 include: The threshold for requiring a Single Audit increased from $500,000 in federal expenditures to $750,000. Type A/B program threshold increased from [...]

Anstiss & Co. Sends 4 to the AICPA National Not-For-Profit Industry Conference

June 21st, 2013

The American Institute of Certified Public Accountants (AICPA) held its annual National Not-For-Profit Industry Conference in Washington, D.C. from June 19 through June 21, 2013. Anstiss & Co. sends members of the not-for-profit audit team to the AICPA Conference each year in order to stay up-to-date on the latest developments and issues affecting our not-for-profit [...]

Anstiss & Co., P.C. Welcomes Renato Zeppi, CPA, CFE

October 1st, 2012

Anstiss & Co., P.C. is pleased to announce that Renato Zeppi, CPA, CFE has joined our firm as the Director of Audit & Accounting Services. With more than 25 years of progressive accounting and auditing experience, Renato will further enhance the strength of the Anstiss & Co. audit group. Renato spent the past seven years [...]