Posts Tagged ‘Tax’

Tax Alert- You can only claim a casualty loss tax deduction in certain situations

In recent weeks, some Americans have been victimized by hurricanes, severe storms, flooding, wildfires and other disasters. No matter where you live, unexpected disasters may cause damage to your home or personal property. Before the

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Posted In: Alerts & Advisories

Emerging Tax Alert- SBA streamlines forgiveness for smaller PPP loans

The Small Business Administration (SBA) has released new guidance intended to expedite the forgiveness process for certain borrowers under the Paycheck Protection Program (PPP). The simplified process generally is available for loans of $150,000 or

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Posted In: Alerts & Advisories

Tax Alert- There’s currently a “stepped-up basis” if you inherit property — but will it last?

If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes. The current rules Under the current fair market value basis rules (also known

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Posted In: Alerts & Advisories

Jonathan Liff Quoted In Article By Givinga

On Tuesday, July 20, 2021, Jonathan Liff, Tax Senior Manager, was quoted in an article that was posted by Givinga. The article was titled, “Tax Benefits of Corporate Giving, with Jon Liff, CPA at Edelstein”

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Posted In: Resources

Tax Alert- Tax-favored ways to build up a college fund

If you’re a parent with a college-bound child, you may be concerned about being able to fund future tuition and other higher education costs. You want to take maximum advantage of tax benefits to minimize

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Posted In: Alerts & Advisories

Tax Alert- Home sales: How to determine your “basis”

The housing market in many parts of the country is strong this spring. If you’re buying or selling a home, you should know how to determine your “basis.” How it works You can claim an

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Posted In: Alerts & Advisories

Emerging Tax Alert- Extended tax filing deadline provides relief to individual taxpayers and the IRS

The IRS has announced that the federal income tax filing deadline for individuals for the 2020 tax year is extended from April 15, 2021, until Monday, May 17, 2021. The IRS extended the deadline to

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Posted In: Alerts & Advisories

Emerging Tax Alert- The American Rescue Plan Act provides sweeping relief measures for eligible families and businesses

On March 11, 2021, President Biden signed into law the American Rescue Plan Act (ARPA). The $1.9 trillion law is intended to provide far-reaching relief from the economic and other repercussions of the ongoing COVID-19

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Posted In: Alerts & Advisories

Emerging Tax Alert- The American Rescue Plan Act has passed: What’s in it for you?

Congress has passed the latest legislation aimed at providing economic and other relief from the COVID-19 pandemic that has haunted the country for the last year. President Biden is expected to sign the 628-page American

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Posted In: Alerts & Advisories

Tax Alert- Retiring soon? Recent law changes may have an impact on your retirement savings

If you’re approaching retirement, you probably want to ensure the money you’ve saved in retirement plans lasts as long as possible. If so, be aware that a law was recently enacted that makes significant changes

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Posted In: Alerts & Advisories