blog
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 ...

April 1, 2019
Fraud Fact – Crooks Prefer Cash

It should come as no surprise that cash is the most popular target of fraud perpetrators. After all, once stolen, cash itself is virtually untraceable. But that doesn’t mean forensic accounting professionals can’t unearth cash fraud schemes — and the crooks behind them....

March 28, 2019
Five Ways to Prevent Fraud in your Law Firm

Because they foster a collegial, trusting environment, law firms can be more vulnerable to fraud than many other types of businesses. Enforcing internal controls may simply seem unnecessary in an office of professionals dedicated to the law. Unfortunately, occupational thieves can take advantage of such complacency.  ...

March 20, 2019
How Fraud can Impact the Purchase of Your Dream Home

Buying a home is stressful enough without also having to worry about potential fraud. Unfortunately, real estate fraud is surging. According to Realtor magazine, scams targeting the industry rose 1,100% from 2015 to 2017, resulting in losses of more than $1.6 billion.  Home closing wire fraud should be of particular ...

March 20, 2019
Use an Implementation Plan to Make Strategic Goals a Reality

Strategic planning comprises two primary tasks: establishing strategic goals and achieving them. Many business owners would probably say the first part, coming up with objectives, is relatively easy. It’s that second part — accomplishing those goals — that can really challenge a company....

March 20, 2019
Financial Market Recap – Week Ending March 15, 2019

Overview: Stocks had their best week since November last week, recovering the prior week’s losses. Major indices in both the US and globally were up between 2.5%-3% for the week. The gain was driven by strong earnings from technology companies, decent economic data and perceived developments in China trade talks. In Eu...

March 20, 2019
Stretch Your College Student’s Spending Money with the Dependent Tax Credit

If you’re the parent of a child who is age 17 to 23, and you pay all (or most) of his or her expenses, you may be surprised to learn you’re not eligible for the child tax credit. But there’s a dependent tax credit that may be available to you. It’s not as valuable as the child tax credit, but when you’re saving for ...