Archive for December, 2020

Emerging Tax Alert – Congress passes COVID-19 aid package

After months of negotiations in Washington, an agreement has been struck on a new aid package to address the ongoing fallout from the COVID-19 pandemic. The legislation has been passed by both the U.S. House

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Posted In: Alerts & Advisories, News, Resources

COVID-19 Relief Bill

On Monday, December 21, 2020, the U.S. Senate and House of Representatives passed a $900 billion COVID-19 relief bill which addresses: Stimulus payments, Unemployment benefits, Aid to small businesses, and A variety of Paycheck Protection

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Posted In: Alerts & Advisories, News

Accounting & Audit Alert- ICFR assessment and attestation: Are you in compliance with the rules?

Each year, public companies must assess the effectiveness of their internal controls over financial reporting (ICFR) under Section 404(a) of the Sarbanes-Oxley Act (SOX). In some cases, private companies should follow suit. In addition, a

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Posted In: Alerts & Advisories

Tax Guide- The ins and outs of the easing of loss limitation rules

To provide businesses and their owners with some relief from the financial effects of the COVID-19 crisis, the Coronavirus Aid, Relief, and Economic Security (CARES) Act eases the rules for claiming certain tax losses. Here’s

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Posted In: Alerts & Advisories

Tax Alert- Can you qualify for a medical expense tax deduction?

You may be able to deduct some of your medical expenses, including prescription drugs, on your federal tax return. However, the rules make it hard for many people to qualify. But with proper planning, you

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Posted In: Alerts & Advisories

Accounting & Audit Alert- Put your company’s financial statements to work for you

It’s almost time for calendar-year businesses to prepare their year-end financial statements. If used correctly, these reports can be a valuable management tool. Use them in benchmarking and forecasting to be proactive, not reactive, to

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Posted In: Alerts & Advisories

Happy Holidays from Edelstein!

The holiday season has started and Edelstein wants to spread some joy with a video of our past celebrations. We hope your holidays are filled with health and happiness!

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Posted In: Videos

Tax Guide- Relaxed limit on business interest deductions

In previous posts, we have mentioned the implications that the Tax Cuts & Jobs Act have on business interest deductions, along with the impact the CARES Act has on them. In the following post, we

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Posted In: Alerts & Advisories

Tax Alert- Maximize your 401(k) plan to save for retirement

Contributing to a tax-advantaged retirement plan can help you reduce taxes and save for retirement. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a smart way to build a

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Posted In: Alerts & Advisories

Accounting & Audit Alert- Year-end SWOT analysis can uncover risks

As your company plans for the coming year, management should assess your strengths, weaknesses, opportunities and threats. A SWOT analysis identifies what you’re doing right (and wrong) and what outside forces could impact performance in

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Posted In: Alerts & Advisories