Archive for June, 2022

Accounting & Audit Alert- Consider stress testing to lower risks

The pandemic and the ensuing economic turmoil have put tremendous stress on businesses. Many companies that appeared healthy on the surface, on their financial statements, quickly realized that they weren’t prepared for the unexpected. A

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Posted In: Alerts & Advisories

Marc Bello & Jesse Gillett to be Faculty at MCLE Program

On Tuesday, June 28, Business Valuation & Forensic Accounting Partners, Marc Bello and Jesse Gillett, will be the faculty for the MCLE program, ‘Business Valuation for Attorneys‘. Business valuations can assist attorneys with gift and

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Posted In: Events

Tax Alert- Five tax implications of divorce

Are you in the early stages of divorce? In addition to the tough personal issues that you’re dealing with, several tax concerns need to be addressed to ensure that taxes are kept to a minimum

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Posted In: Alerts & Advisories

Accounting & Audit Alert- Warning for retailers and other businesses using the LIFO method

Recent supply shortages may cause unexpected problems for some businesses that use the last-in, first-out (LIFO) method for their inventory. Here’s an overview of what’s happening so you won’t be blindsided by the effects of

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Posted In: Alerts & Advisories

Emerging Tax Alert- Standard business mileage rate will increase for the second half of 2022

The IRS recently announced that it’ll increase the standard mileage rate for qualified business driving for the second half of 2022. The adjustment reflects the soaring cost of gasoline this year. In fact, as of

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Posted In: Alerts & Advisories

Edelstein Announces Additional Investments in People and Processes

At Edelstein’s recent Quarterly Firm Wide Meeting, Chief Operating Officer, Michelle Walsh, announced a new series of investments that the firm has made in our team and firm processes. People focused investments expanded employee benefits

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Posted In: Events

Accounting & Audit Alert- Private business owners: Don’t wait until year end to evaluate financial performance

How often does your company generate a full set of financial statements? It’s common for smaller businesses to issue only year-end financials, but interim reporting can be helpful, particularly in times of uncertainty. Given today’s

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Posted In: Alerts & Advisories

Tax Alert- Social Security benefits: Do you have to pay tax on them?

Some people who begin claiming Social Security benefits are surprised to find out they’re taxed by the federal government on the amounts they receive. If you’re wondering whether you’ll be taxed on your Social Security

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Posted In: Alerts & Advisories

Accounting & Audit Alert- Dig deeper! Find hidden treasure in financial statement footnotes

Numbers tell only part of the story. Comprehensive footnote disclosures, which are found at the end of reviewed and audited financial statements, provide valuable insight into a company’s operations. Unfortunately, most people don’t take the

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Posted In: Alerts & Advisories

MassCPAs Provided Industry Update at Edelstein’s Firm Wide Meeting

On May 23, 2022, Edelstein hosted our quarterly firm wide meeting for our team members. Zach Donah, Senior Director of Advocacy, and Kara Kieran, Chief Operating Officer, joined us from the MassCPAs to provide an

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Posted In: Events