Archive for Alerts & Advisories Category

Accounting & Audit Alert- Reasons why cash is king

In financial reporting, investors and business owners tend to focus on four key metrics: 1) revenue, 2) net income, 3) total assets and 4) net worth. But, when it comes to gauging short-term financial performance

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Accounting & Audit Alert- Nonprofits: New alternatives for reporting goodwill and other intangibles

Did you know that the Financial Accounting Standards Board (FASB) recently extended the simplified private-company accounting alternatives to not-for-profit organizations? Many merging nonprofits, including educational institutions and hospitals, welcome these practical expedients. Here are the

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Posted In: Alerts & Advisories

Emerging Tax Alert- IRS issues final QBI real estate safe harbor rules

Earlier this year, the IRS published a proposed safe harbor giving owners of certain rental real estate interests the opportunity to take advantage of the qualified business income (QBI) deduction. The QBI write-off was created

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Posted In: Alerts & Advisories

Accounting & Audit Alert- Internal audit 2.0

Paperless and continuous auditing trends Technology is altering the traditional approach to internal audits. Instead of reviewing reams of paperwork, today’s auditor is learning to use electronic records. In turn, going paperless facilitates a concept

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Tax Alert- Take advantage of the gift tax exclusion rules

As we head toward the gift-giving season, you may be considering giving gifts of cash or securities to your loved ones. Taxpayers can transfer substantial amounts free of gift taxes to their children and others

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Accounting & Audit Alert- Measuring fair value for financial reporting

Business assets are generally reported at the lower of cost or market value. Under this accounting principle, certain assets are reported at fair value, such as asset retirement obligations and derivatives. Fair value also comes

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Accounting & Audit Alert- Management letters: Have you implemented any changes?

Audited financial statements come with a special bonus: a “management letter” that recommends ways to improve your business. That’s free advice from financial pros who’ve seen hundreds of businesses at their best (and worst) and

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Tax Alert- Uncle Sam may provide relief from college costs on your tax return

We all know the cost of college is expensive. The latest figures from the College Board show that the average annual cost of tuition and fees was $10,230 for in-state students at public four-year universities

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Accounting & Audit Alert- Budgeting is key to a successful start-up

More than half of recent college graduates plan to start a business someday, according to the results of a survey published in August by the American Institute of Certified Public Accountants (AICPA). Unfortunately, the AICPA

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Posted In: Alerts & Advisories

Edelstein Named as Top 200 Firm for Fourth Consecutive Year

We are proud to announce that Edelstein has again been named as one of the Top 200 (#184) accounting firms in the nation by Inside Public Accounting (IPA), up from last year’s ranking of 186.

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Posted In: Alerts & Advisories, Awards