OLD COUNTRY VS. NEW COUNTRY

For those confused by the question, we are challenged every day by the prospect of future taxation.  The word from every source seems to be there is only one direction for taxes and that is up.  Coupled with severely crimped revenues from the Great Recession and federal government outlays that are attempting to prime the private sector pump, this conclusion appears inexorably on the horizon.

The fiscal crisis appears to be gaining greater traction as an issue both financially and […]

January 27, 2010 Accounting, Tax Read more...

Bond Beebe Accountant Passes the CPA Exam

Bond Beebe, a certified public accounting and advisory firm with offices in Bethesda, Maryland and Alexandria, Virginia, announced today that William Thomas, an accountant with the Firm, passed the Uniform Certified Public Accountant (“CPA”) Examination.  Passing the Uniform CPA Examination is required for individuals in order to qualify for licensure as a Certified Public Accountant in any of the 55 U.S. jurisdictions (the 50 states, District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, and the Commonwealth of the […]

January 20, 2010 Firm News & Events Read more...

We Are Family: How Family Businesses Have Been Hanging Tough During the Economic Crisis

Posting by Jacqueline M. Thompson, CPA, Principal

Around the world, businesses have been handling the global economic crisis in a variety of ways, including downsizing, changing management, cutting bonuses, acquiring other businesses or being acquired, even closing down all together.  There is an element to the family business that is quite different from a non-family business, and it seems in these tough times, being family can be an advantage.

Positive Steps Everyone Can Take

There are of course some things every business […]

January 19, 2010 Family Owned Businesses Read more...

Alter Ego Status

Posting by Larry Beebe, CPA

Is an employer’s intent to evade being treated as an alter ego to a contributing employer a required element of proving alter ego status?  This question was discussed in a December, 2009 article in the IFEBP’s Benefits and Compensation Legal Legislative Reporter.

The article stated that the “sixth circuit emphasizes that evidence of an intent to evade, when it presents itself, is a relevant factor in determining whether the alter ego doctrine is applicable, along with […]

January 18, 2010 Payroll Audit, Uncategorized Read more...

Where is Fraud Likely? – Part 2: Accounts Receivable Lapping

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.

A Lack of Segregation of Duties Can Lead to Lapping

As long as entities have had accounts receivable lapping has taken place.  Lapping occurs when someone in the organization steals accounts receivable payments by diverting them.  The person committing the fraud then uses a subsequent payment from a different […]

January 18, 2010 Accounting, Forensic Accounting Read more...

All On Board! Getting Your Family Business Started with a Board of Directors

Posting by Joel C. Susco, CPA, Principal

Talk to any family business owners about their board of directors, and you’ll most likely get a wide variety of questions in lieu of answers.  How large should the board be?  Should the board even exist?  Is a board necessary when the founder or the founder’s child is running the company?  Should a board include non-family members?  Why is that?

Why Sometimes It’s Good to be Board

Some family businesses are good at what they […]

January 15, 2010 Accounting, Family Owned Businesses Read more...

Tax Relief Tools in Time for Your Next Family Business Tax Returns

Posting by Geoffrey D. Brown, CPA, Principal

A CPA down to my soul, I decided to focus on a few tax items for my blog post this month – I just can’t help myself.  There were a couple tax relief items for businesses that were passed into law last year and may be of some interest to family businesses.

Nothing but Net – Net Operating Loss Carryback

The first tax change is for Net Operating Loss Carryback.  This measure, to get a […]

January 11, 2010 Family Owned Businesses, Tax Read more...

Small Time PonziScheme Costs Investors $15 Million

John Merchant, CPA ,  CFE

Have you ever heard of Marcia Sladich?  Unless you live in the vicinity of New York City you probably haven’t.  And, perhaps that is lucky for you.  The New York Times reports that Ms. Sladich has been convicted of running what might be called a mini Ponzi scheme.  It can be called mini because her scheme was far less devastating than the scheme originally perpetrated by Charles Ponzi and certainly miniature in relation to the […]

January 10, 2010 Accounting, Forensic Accounting Read more...

Efficiency vs. Unexpected Inefficiency

Posting by Meghan Kramer

As a traveling auditor, time is of the essence.  I recently went on a trip to Massachusetts in which I had five audits, in five different cities, in four days.  To maximize my time and efficiency, the Firm issued me a wireless internet card.  This would allow me to submit finished audit reports in the field to our Firm’s intranet for immediate review.  On this particular Tuesday, I had a great day of work.  Since I […]

January 7, 2010 Audit, Uncategorized Read more...

Bond Beebe Professionals Participate in IFEBP’s 55th Annual Conference

Bond Beebe, a certified public accounting and advisory firm with offices in Bethesda, Maryland and Alexandria, Virginia, announced that three of their Principals have participated in the International Foundation of Employee Benefit Plans’ (“IFEBP”) 55th Annual Conference, which took place November 8-11 in Orlando, Florida.  David Dorsey, Scott Price and Lawrence Beebe all participated in separate speaking engagements during the Conference.  The IFEBP’s Annual Conference offers almost 200 sessions and workshops that address topics concerning those who serve multiemployer […]

December 28, 2009 Firm News & Events Read more...