Protecting Your Inventory and Customers from Employees
During the last year, I have received more phone calls than usual from business owners who believe employees are stealing inventory from them. Many of the concerns I hear from small business owners...
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Telephone Fraud: Beware of the Big Prize Promise
I know an elderly lady who is disabled and in early stages of dementia. Her name is Doris. Doris was the recent victim of a telephone scam. Doris’ four adult children recently told me that two months...
View Article99.7% of Estates Are Not Subject to Federal Tax
The American Taxpayer Relief Act of 2012 (“Act”) increased tax exemptions for federal estates, gifting and generation skipping trusts (GST). The Act also escalated the aforesaid exemptions each year...
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Exploding Growth in Crowdfunding
Crowdfunding is the practice of funding a project or venture by raising monetary contributions from a large number of people, typically via the internet. Crowdfunding has grown dramatically over the...
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Shareholder Debt or Equity – Does it Effect Value?
Shareholders of a small business sometimes will infuse cash into their Companies when needed. This cash is often recorded as a loan to the business. The shareholder and the Company may or may not have...
View ArticleDid You Just Try to Scam a Forensic Accountant?
As a forensic accountant, I know that telephone scams are becoming increasingly more common. However, I was surprised when I actually received a phone call recently with an automated message stating...
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Divorce Business Valuations: The “Double Dip” and Reasonable Compensation...
Family Law Court magistrates often face two dilemmas regarding what monthly spousal maintenance payments should be when a business is owned by the divorcing couple and is an asset to be distributed in...
View ArticleCould New Section 2704 Regulations Eliminate Discounts Applicable to...
Section 2704(b) Internal Revenue Code Section 2704(b) provides that certain “applicable restrictions” that would typically justify the application of lack of control and/or lack of marketability...
View ArticleA New Tax-Free Vehicle for the Disabled
The Achieving a Better Life Experience Act (“ABLE Act”) offers a new tax-free savings vehicle for disabled individuals to pay for expenses not covered by government programs such as health care,...
View ArticleU.S. Supreme Court Rules that Second Mortgages Cannot be Stripped in a...
In early June 2015, the U.S. Supreme Court ruled that homeowners who have an “underwater” second mortgage on their home – one with a mortgage balance that exceeds its current value –cannot be stripped...
View ArticleMitigation – A Key Issue in the Assessment of Damages
A damages award must consider steps the plaintiff took, or reasonably could have taken, to mitigate the alleged losses. The defendant has the burden to prove that losses could have been avoided by...
View ArticleDepositing Checks Remotely – The Banks are on Top of this, Right?
Ah, the convenience of depositing a check right from my phone. How much easier could it get? Log onto my account, choose remote deposit, snap a picture of the front and back of the check and...
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Forensic Accountants: What Makes Them Effective – or Not?
I have been performing forensic accounting services for clients since 1984. During that time, I have heard many definitions of “forensic accounting services” from other CPAs, seminar instructors, and...
View ArticleSales of New Homes in Metro Phoenix Surge in July
Many economists believe this year’s surge in homebuilding is beginning to look more and more like a real recovery of the Valley’s new-home market. New Home Permits Issued in July 2015 are 55% Higher...
View ArticleMarket Perspective
The markets have been extremely volatile in the past few weeks. We saw sharp declines in the markets in the beginning of last week only to turn around and end the week with a slight increase in the...
View ArticleDetection and Prevention of Fraud Schemes
Do you worry about the potential for fraud in your company? There is a fairly simple and affordable way to help prevent and detect fraud – through implementation of a “tip line.” Because tip lines...
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Life Expectancy – Best and Worst States to Live In
If I am preparing a report on lost earnings in a wrongful death litigation matter, I will need to know what the expected remaining life would have been for the deceased subject involved with the lost...
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No More Swiping Means Safer Transactions, at Least in Person
Many of you may have received new credit cards recently which contain a small metallic square on the left front of the card. These are new EMV (Europay, Mastercard and Visa) cards which are being used...
View ArticleValuation Services as a Management Tool
Most clients come to us for business valuation services because of outside requirements. They need an independent appraisal for tax compliance, financial reporting, marital dissolution or estate and...
View ArticleThe Estate or Gift Tax Return is Filed with the IRS – Then What?
I attended the American Society of Appraisers Advanced Business Valuation Conference a couple of weeks ago and had the opportunity to attend a session presented by an IRS attorney, Theresa Melchiorre....
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