blog
May 13, 2019
How to Spot Influencer Fraud in Social Media

To increase brand awareness and influence consumer behavior, businesses of all sizes spend vast amounts on social media marketing. Social media “influencers” can help companies reach and engage customers. But not all influencers operate above board. Here’s how to avoid hiring or associating with a dishonest influencer....

May 13, 2019
Should You Buy or Lease Business Equipment?

Life presents us with many choices: paper or plastic, chocolate or vanilla, regular or decaf. For businesses, a common conundrum is buy or lease. You’ve probably faced this decision when considering office space or a location for your company’s production facilities. But the buy vs. lease quandary also comes into play ...

May 13, 2019
Tax Savings for Electric Vehicles

While the number of plug-in electric vehicles (EVs) is still small compared with other cars on the road, it’s growing — especially in certain parts of the country. If you’re interested in purchasing an electric or hybrid vehicle, you may be eligible for a federal income tax credit of up to $7,500. (Depending on where y...

May 13, 2019
Paying Your Taxes by Credit Card

As we wrapped up another tax season, we had several clients asking about paying balances due to the US Treasury or state department of revenue with credit cards.  Taxpayers do have the option of paying with credit cards as it is a convenient way of paying your income tax bills.  You can make these payments 24 hours a d...

April 29, 2019
The Forensic Accountant’s Role in Litigation

When people hear the term “forensic science,” they usually think “CSI.” What comes to mind when you hear the term “forensic accounting”? Similar to forensic scientists offering opinions about scientific matters, forensic accountants may be called on to investigate and serve as financial experts in commercial litigation...

April 25, 2019
Casualty Loss Deductions for Federally Declared Disasters

Unforeseen disasters happen all the time and they may cause damage to your home or personal property. Before the Tax Cuts and Jobs Act, eligible casualty loss victims could claim a deduction on their tax returns. But there are new restrictions that make these deductions much more difficult to take....

April 22, 2019
Preventing Fraud in Auto Dealerships

To prevent occupational fraud from cutting into your auto dealership’s profits and generating negative publicity, you need a strong internal controls system. And effective controls start with current and accurate financial statements....

April 15, 2019
Why Executives Pose the Greatest Occupational Fraud Risk

In its 2018 Report to the Nations on Occupational Fraud and Abuse, the Association of Certified Fraud Examiners (ACFE) reported that owners and executives accounted for only 19% of all fraud cases. Yet they caused a median loss of $850,000, vs. a median of $100,000 for rank-and-file employees....

April 11, 2019
Responding to the Nightmare of a Data Breach

It’s every business owner’s nightmare. Should hackers gain access to your customers’ or employees’ sensitive data, the very reputation of your company could be compromised. And lawsuits might soon follow.  No business owner wants to think about such a crisis, yet it’s imperative that you do. Suffering a data breach wit...

April 10, 2019
Financial Market Recap – Week Ending April 5, 2019

Overview: Last week began on a high note, with strong economic data out of China setting the stage for a positive week in the global markets. Stocks around the world were higher on the week, led by emerging markets (MSCI EM +2.5%), domestic (S&P 500 +2.1%) and international developed (MSCI EAFE +2.0%). Markets were enc...

April 10, 2019
Prevent Hackers From Wiping Out Your Employees’ 401(k) Accounts

News of commercial database hackings may seem commonplace in 2019. But while many of these stories focus on hacked bank and credit card accounts, 401(k) plan sponsors and participants probably don’t realize that their plan assets also are at risk. Employers who offer 401(k) plans to their employees need to take precaut...

April 2, 2019
Make a Deductible IRA Contribution for 2018. It’s Not Too Late!

Do you want to save more for retirement on a tax-favored basis? If so, and if you qualify, you can make a deductible traditional IRA contribution for the 2018 tax year between now and the tax filing deadline and claim the write-off on your 2018 return. Or you can contribute to a Roth IRA and avoid paying taxes on ...