Bond Beebe Principal Presents at AICPA’s National Conference on Employee Benefit Plans

Bond Beebe, a certified public accounting and advisory firm with offices in Bethesda, Maryland and Alexandria, Virginia, announced that Principal Larry Beebe, CPA presented at the American Institute of Certified Public Accountants’ (“AICPA”) National Conference on Employee Benefit Plans, which took place May 12-14, 2010 in Las Vegas, Nevada.  The AICPA provides members with the resources, information and leadership that enable them to provide valuable services in the highest professional manner to benefit the public, employers and clients.

Beebe co-presented […]

May 24, 2010 Firm News & Events 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...

THE NEW HIRE ACT HIRING INCENTIVES AND RETENTION CREDIT. IS YOUR SPOUSE ELIGIBLE?

Glenn Bailey, CPA

A new law can provide you a payroll tax savings for hiring new workers, and may allow you to take advantage of them if you hire your spouse. The Hiring Incentives to Restore Employment Act, P.L. 111-147 provides two tax benefits for employers that hire workers this year: payroll tax forgiveness for hiring unemployed workers and a tax credit for as much as $1,000 for keeping them on the payroll for at least one year.

Under this […]

May 13, 2010 Accounting, Tax Read more...

Lack of Cooperation by the Employer – Reason 11

Posting by Larry Beebe, CPA

Unsafe Conditions

In very rare instances, the payroll auditor may be faced with one of the following:

1. Unsafe physical environment in the area inside the employer’s premises.
2. Unsafe physical environment in the area surrounding the employer’s premises.
3. Sexual suggestions or threats.
4. Threats of physical violence.
5. Display of weapon by the employer.

In any instance where the auditor feels threatened, he/she should immediately remove himself/herself from the employer’s premises.  The conditions encountered by the auditor should be provided to the plans attorney.  Often, […]

May 7, 2010 Payroll Audit Read more...

Where is Fraud Likely? – Part 11: Window Dressing

Lawrence R. Beebe, CPA

In this series, we are discussing specific areas where fraud might be likely to occur within an organization and the steps management can take to detect and prevent fraud.

Window Dressing Has Nothing to do With the Drapes in Your House
Window dressing refers to any action taken by an individual or individuals to make the financial statements look better than they actually are at the end of an accounting period by manipulating the numbers.  Suppose that […]

May 7, 2010 Accounting, Forensic Accounting Read more...

The Key Steps in Succession Planning – Part 1

Posting by Jacqueline M. Thompson, CPA, Principal

A small business owner once told his accountant that he was not interested in having a succession plan.  “Why not?” asked the accountant.  The small business owner replied “Because I want it to be a sad day for everyone when I die.”  That owner knew the importance of having a succession plan but he wasn’t willing to do anything about it.  Why?  Perhaps he knew how much work was required to insure that […]

May 5, 2010 Family Owned Businesses Read more...

Bond Beebe Promotes Jennifer Hohman

Bond Beebe, a certified public accounting and advisory firm with offices in Bethesda, Maryland and Alexandria, Virginia, is pleased to announce that effective May 1, 2010, Jennifer Hohman has been named Senior in the Audit Department.  She has been with Bond Beebe for two years and has over four years of public accounting experience with a focus on labor unions and employee benefit plans.

Hohman is a 2004 graduate of Kutztown University of Pennsylvania with a B.S.B.A. in Accounting.  The […]

May 3, 2010 Firm News & Events Read more...

Lack of Cooperation by the Employer – Reason 10

Posting by Larry Beebe, CPA

Insufficient Work Space

Sometimes an employer representative thinks the auditor will go away faster if he/she is given inadequate working space, or if the space is deliberately hot or cold.  When I suspect an employer is doing this, it backfires on the employer.  I am suspicious that the employer is hiding something and I work harder than ever to find deficiencies.

If inadequate work space is provided, the auditor should do two things.  The first thing is […]

April 30, 2010 Payroll Audit Read more...

Computer Forensics: An Important Tool for Uncovering Fraud

Alex Helfand, ENCE, Computer Forensic Specialist

In a world so dependent on technology, it is becoming more important than ever for computers to be investigated as part of accounting fraud cases.  It may be obvious to assume that when looking at a hard drive, an investigator will be able to see the files saved on the computer.  However, there is much more value to performing a computer forensic investigation than the aforementioned.

Recover Deleted Files
Someone committing fraud might believe they […]

April 30, 2010 Accounting, Forensic Accounting 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...