How to Use Social Media to Support Your Fraud Case

Alex Helfand, ENCE, Computer Forensic Specialist

The invasion of social media continues to complicate litigation. Effective litigation will increasingly include sifting through large amounts of electronically stored information (ESI) and piecing together fragmented social networking activity to substantiate a case. Exactly how does social media play into support for a fraud case and what are the considerations for preserving, obtaining, and using data from social media sites?
Social Media and the Clues Left Behind
While the most common social networking sites include […]

January 6, 2014 Accounting, Forensic Accounting Read more...

2% PAYROLL TAX REDUCTION EXTENDED FOR AT LEAST 2 MONTHS

Congress opted to extend the 2% reduction in Social Security withholding from employees and the similar reduction in self employment tax thru February 29th, setting up another legislative showdown on the subject 2 months from now.

Thru February 29th, the first $110,100 of earnings will be subject to the reduced 4.2% withholding rate. If the reduced rate is not subsequently extended the withholding rate on any wage over $18,350 will be retroactively adjusted to the 6.2% rate or whatever any […]

January 4, 2014 Accounting, Payroll Audit, Tax Read more...

DOL Releases Guidance for Benefit Plans Regarding Same Sex Marriages

Mark Buckberg, CPA, CFE, CFF

The Employee Benefits Security Administration (EBSA) has provided guidance inresponse to the Supreme Court’s ruling in United States v. Windsor that the Defense of Marriage Act is unconstitutional. Technical Release No. 2013-04 states that, in general, the terms “spouse” and “marriage” include same-sex couples legally married in any state or foreign jurisdiction that recognizes these marriages. This is applicable to all laws and regulations within the EBSA’s jurisdiction, which includes Title I of ERISA, as […]

December 26, 2013 Accounting, Benefit Plan Accounting Read more...

2013 Year-End Tax Planning: Power of Attorney Radio Show

Posting by Brian Wynne

As I mentioned previously on the blog, I had the pleasure of joining Wayne Zell of Odin Feldman Pittleman on his radio show, Power of Attorney. We discussed a number of tax changes for 2013 and I shared several strategies to help deal with those changes and increases.

You can listen to the entire podcast here, but here are the basics:

Tax Increases for 2013

It’s helpful to think of the tax increases that went into effect this year […]

December 17, 2013 Tax Read more...

IRS ANNOUNCES 2014 STANDARD MILEAGE RATES

Scott Reddersen, CPA

The IRS announced the 2014 optional standard mileage rates this week. They are as follows:

56 cents per mile for business mileage
23.5 cents per mile for medical or moving mileage
14 cents per mile for charitable service mileage

For those keeping track, the rates for business, medical, and moving mileage each decreased by one-half cent from their respective 2013 rates. The charitable mileage rate remains unchanged.

December 12, 2013 Accounting, Tax Read more...

Working with Your Family Business Accountant

Posting by Geoffrey D. Brown, CPA, Principal

Embedded (n): to incorporate or contain as an essential part or characteristic.

The Family Firm Institute recently published a fascinating study that looked at the relationship between family businesses and their accountants. How should a family business interact with its accountant? Many people (especially accountants) would assume that an accountant has an important role to play in the success of a family-owned enterprise.

It turns out that assumption is correct, but not in every circumstance. […]

December 12, 2013 Accounting, Family Owned Businesses Read more...

YEAR-END TAX PLANNING – POWER OF ATTORNEY RADIO SHOW

Posting by Brian Wynne

There are a number of new tax issues to take into account as you do your year-end tax planning. Wayne Zell of law firm Odin, Feldman Pittleman asked me to join him for a session of the Power of Attorney radio show to talk about the planning opportunities taxpayers can take advantage of before year-end.

The interview will air tomorrow (Saturday, 12/7) at 10AM on Federal News Radio (1500AM). We’ll discuss the new net investment income tax, […]

December 6, 2013 Uncategorized Read more...

Risk Assessment and Internal Controls: Key Elements to Prevent Fraud

John Merchant, CPA

Is your organization safe from fraud? The answer to that question will depend on your answers to a number of other important questions:Risk Assessment Internal Controls

Are the internal controls of your organization sufficient to prevent fraud? 
Did you perform a risk assessment prior to implementation of those controls? 
Do you monitor the effectiveness of the system of controls?

These are some of the questions that you and those charged with the governance of your company should constantly […]

December 6, 2013 Accounting, Forensic Accounting Read more...

How can tips and hotlines help detect corporate fraud and prevent information leakage?

How can tips and hotlines help detect corporate fraud and prevent information leakage?
Almost half of all occupational fraud is detected by some sort of tip, reporting suspicious activity. How can tips and hotlines help detect corporate fraud and prevent information leakage?

Tips about fraud can come from various sources, including employees, customers, vendors or even competitors, and firms should encourage people to provide them.

First, providing a telephone hotline is a great avenue for reporting suspicious activities. Hotlines should be well-publicized […]

December 5, 2013 Forensic Accounting Read more...

Trusts, Estates, and the Net Investment Income Tax

Posting by Geoffrey D. Brown, CPA, Principal

When the Patient Protection and Affordable Care Act (healthcare reform) was passed in 2010, it included a tax increase that went into effect for this tax year: a 3.8% tax on net investment income.  This increase will affect individuals, estates and trusts on the lesser of the taxpayer’s net investment income for the year or the excess of his/her modified adjusted gross income (AGI) at the following thresholds:

Individuals

Over $250,000 AGI for taxpayers […]

December 5, 2013 Accounting, Tax Read more...