IS IT ALWAYS A SMART MOVE TO BUY IN THIS MARKET?

Brian Wynne, CPA

The last three years have surely been some of the scariest times to be a homeowner.  The well-documented sharp increase in home sale prices between the early 2000s and 2007 has been followed by a continuing 3 year correction, bringing house prices right back down to near the levels they were at when the run-up started.  I would surmise that for most homeowners, the safest course is to stay in your home and wait this correction out.

The […]

August 17, 2010 Accounting, Wealth Management Read more...

Where is Fraud Likely? – Part 14: Investment Income

Lawrence R. Beebe, CPA, Principal

Investment Income Disappears if No One Accounts for It

Most entities do an excellent job of accounting for their investments.  If an investment disappeared from an investment advisor’s monthly statement, the entity would quickly discover the error.  If the entity did not get credit for the scheduled interest or dividend payment on the investment would that payment be missed?  Probably not.

A CPA firm was auditing a pension fund.  The pension fund had numerous investments, including a […]

July 1, 2010 Accounting, Forensic Accounting, Wealth Management Read more...

To Convert, Or Not to Convert: That is the Question For IRA Owners

The Roth IRA can be an extremely powerful vehicle for retirement savings.  Although contributions to a Roth IRA do not provide a current tax deduction, future withdrawals (once you reach the age of 59 and a half) are totally tax-free.  For high net worth taxpayers, whose income is not anticipated to decline substantially after retirement, the benefit of a current deduction can be far outweighed by the tax-free withdrawal of the presumably appreciated investments in the future.
More Benefits of […]

May 24, 2010 Wealth Management Read more...

CLOSING THE LOOPHOLE ON THE SALE OF VACATION HOMES

Brian Wynne, CPA

Memorial Day weekend may still be a month away, but as you daydream about your sunny-day beach house getaway, there may be some dark tax clouds looming over the horizon.  The Housing and Economic Recovery Act of 2008 (signed into law on July 30, 2008) contained a rather onerous provision related to the sale of vacation homes.  You may no longer be able to use the $250,000 ($500,000 if married filing jointly) home sale exclusion to reduce […]

April 30, 2010 Accounting, Valuation, Wealth Management Read more...

We Can’t Hear This Enough – Succession and Estate Planning for Your Family Business

Posting by Joel C. Susco, CPA, Principal

Succession planning is inextricably linked to estate planning in a family business.  We’re always looking for specific family-related business issues, but this one can’t be hit home too often – your family business needs a succession plan, sooner rather than later, for a variety of very important reasons and with many options to consider.

Will the Business Stay in the Family or be Sold?

If you want this to stay in the family, you’ll need […]

November 20, 2009 Family Owned Businesses, Wealth Management Read more...

AIG Executives to Receive More Bonuses

John Merchant, CPA

The Washington Post reports that AIG, the insurance company that sought and received billions in bailout funds from the federal government due to financial failures, is planning the payout of bonuses to some of its top executives.  Just a few months ago, AIG created a firestorm of controversy upon paying millions of dollars in executive bonuses after receiving federal bailout money.  The Company now seeks to pay additional bonuses, based on promises made in 2008.  For this […]

July 13, 2009 Accounting, Wealth Management Read more...