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...

HOW TO HELP THE OKLAHOMA TORNADO VICTIMS: A QUICK PRIMER ON TAX-DEDUCTIBLE DONATIONS

Brian Wynne, CPA

This week has gotten off to a heartbreaking start with the damage inflicted by the Oklahoma tornadoes.  The sheer scope of the devastation and loss is hard to imagine and many of us are eagerly looking for ways to help, no matter where we live.

As you consider a charitable donation to help those affected by the tornadoes, there are some tax considerations to keep in mind.  While the tax aspect is certainly not the most important factor […]

May 22, 2013 Accounting, Uncategorized Read more...

The Top Two Secrets of Successful Family Businesses

Posting by Geoffrey D. Brown, CPA

Most of us have heard the term “shirtsleeves to shirtsleeves in three generations.” This describes what many would say is the typical family business life cycle. Statistics bear this out- according to the Family Firm Institute, Inc., only 12% of family businesses are family-owned into the third generation. Most of us can also recite the various reasons for this, and conflict between family members is reason number one.

Conflict is a very broad issue that […]

April 9, 2013 Family Owned Businesses, Uncategorized Read more...

The Plan’s the Thing: Prevent Common Oversights When Making your Business Succession Plan

Posting by Jacqueline M. Thompson, CPA, Principal

You don’t have to look far to find the most obvious oversight made regarding family business succession planning – not making the plan at all!  We’re not going to list the lack of a succession plan as one of the oversights in this post, because we want you to make the plan!  Just ensure you consider the following often-missed or misformed considerations for your family business succession plan.

Items to Consider, and Consider Well, […]

February 21, 2013 Family Owned Businesses, Uncategorized Read more...

What is the difference between investigative accounting and litigation support?

 

A forensic accountant may perform investigative accounting, or act as litigation support. What is the difference between these two?

First, investigative accounting is typically associated with investigations of criminal matters. An average investigative accounting assignment would be related to employee theft, securities fraud, insurance fraud, kickbacks and proceeds of crime investigations. Certified Public Accountants (CPAs) and Certified Fraud Examiners (CFEs) work on-site to uncover the truth by examining financial and source documents for fraud.

On the other hand, litigation support is […]

December 20, 2012 Uncategorized Read more...

What credentials and expertise are most important in a forensic accountant?

Forensic accountants may have many areas of expertise and credentials. What credentials and expertise are most important in a forensic accountant?

A forensic accountant should be familiar with all these four fundamental areas of knowledge:

First, Criminology. He or she should understand the motivation of people who commit fraud and fraud deterrence measures.
Second, Financial Transactions. Knowing how fraud can be committed – there are some obvious methods, and some newer ones due to increasing technologies in the workplace.
Third, […]

December 8, 2012 Uncategorized Read more...

Benefit Plan Fraud Prevention: Developing Operational Controls for Payroll Audits

Alex Helfand, ENCE, Computer Forensic Specialist

There are several fraud risks inherent in the payroll audit process for multiemployer employee benefit plans, as well as risk that the revenue will be lost from inefficient operations.  When was the last time you analyzed your payroll audit process to see if it complies with your internal control policies?  How efficient are your payroll audits?

Payroll audits should be scheduled in a timely manner (especially when they are project-related) and completed as efficiently as […]

May 16, 2012 Uncategorized Read more...

Hiring a Payroll Audit Firm, Question 3: How Many of Your Payroll Audits Have Findings?

Posting by Larry Beebe, CPA

As part of this series, I am providing Plan Trustees with a list questions they should ask when requesting proposals from payroll auditing firms.  Click here to view the full list of questions.

Question 3: How many of your payroll audits have findings?

Is the firm you are going to hire qualified to perform payroll audits and will they do a quality job?  Any accounting firm can state that they know how to perform a payroll audit, […]

May 3, 2012 Uncategorized Read more...

Crane & Company – This “Stationery” Family Keeps Moving in the Paper Business

Posting by Joel C. Susco, CPA, Principal

Imagine a time over 200 years ago, when there were no cameras, no tape recorders, no videos; a time when some of our most important historical documents were written.  Most people are familiar with the cookware called “Revereware” and know the origins come from the silversmith Paul Revere of American Revolution fame.  You should perhaps also become familiar with the family business Crane & Co., a stationery firm that got its start as […]

March 12, 2012 Family Owned Businesses, Uncategorized Read more...

A Holiday Reflection: Giving Thanks for the Family

Posting by Geoffrey D. Brown, CPA, Principal at Bond Beebe Accountants & Advisors

One of my associates, Eric Fletcher, recently sent a Thanksgiving blog post that someone else had written that basically discussed how thankful and appreciative he was for all that was around him.  I happened to think that it was a wonderful idea and decided to mimic that gesture with my own twist.

This past year has been, at times, tumultuous and at others extremely gratifying; it certainly has […]

December 7, 2011 Family Owned Businesses, Uncategorized Read more...