Fraud experts have long suggested that the presence of three conditions, known as the “fraud triangle,” greatly increases the likelihood that an employee will commit fraud. Over the years, this conceptual framework has been expanded to become a “fraud diamond.” Under...

In reporting financial results for real estate companies, Generally Accepted Accounting Principles (GAAP) and the income tax basis of accounting often provided very different financial reporting results.  If the real estate company is not required to provide GAAP financial ...

To help you identify strategies that might work for you in 2019, we're pleased to present the 2019-2020 Tax Planning Guide.  It provides a refresher on some of the most significant changes that generally went into effect last year under the Tax Cuts and Jobs Act (TCJA) - an...

We all know that solar energy can save you money on future energy costs. But did you also know that there is a federal Solar Investment Tax Credit (ITC) of up to 30% of the total cost of the energy property? The energy property must meet performance and quality standards, mu...

Even if you haven’t heard much about it lately, know this: Health care fraud is alive and well in the United States. Here’s a roundup of recent stats, law enforcement initiatives, common fraud schemes and how you can help prevent these crimes....

You may think that only large, well-endowed not-for-profits require the advice of a nonprofit investment advisor. But even smaller nonprofits with modest endowments — particularly smaller nonprofits that don’t have in-house financial expertise — can benefit from hiring...

Like most business owners, you’ve probably been urged by industry experts and professional advisors to identify the most important key performance indicators (KPIs) for your company. So, just for the sake of discussion, let’s say you’ve done that. A natural question th...

In some cases, spouses are eligible for “innocent spouse relief.” This generally involves individuals who were unaware of a tax understatement that was attributable to the other spouse. To qualify, you must show not only that you didn’t know about the understatement, ...

How well do you listen to your not-for-profit’s supporters? If you don’t engage in “social listening,” your efforts may not be good enough. This marketing communications strategy is popular with for-profit companies, but can just as easily help nonprofits attract and...

Early revenue recognition has long accounted for a substantial portion of financial statement fraud. By recording revenue early, a dishonest business seller or an employee under pressure to meet financial benchmarks can significantly distort profits. Fortunately, fraud exper...

Many business owners reach a point where managing the financial side of the enterprise becomes overwhelming. Usually, this is a good thing — the company has grown to a point where simple bookkeeping and basic financial reporting just don’t cut it anymore.  If you can re...

ASC 606 provides different guidance about revenue recognition because it explains things differently about completion of contracts. Instead of thinking about revenue recognition based on being able to estimate the contract value and duration, it considers it in terms of “p...