Despite the threat and high cost of fraud, too many businesses fail to adopt comprehensive, integrated, fraud risk management programs. If you have put off taking this important step toward protecting your company, now is the time to act. Know yourself The first significant challenge is to...
Under the Tax Cuts and Jobs Act (TCJA), individual income tax rates generally go down for 2018 through 2025, but that does not necessarily mean your income tax liability will go down. The TCJA also makes a lot of changes to tax breaks for individuals,...
In 2017, the national median cost of home health aide services was $21.50 an hour. Annualized, based on 44 hours of care per week for 52 weeks, that is nearly $50,000 a year. Costs are highest in North Dakota (around $64,000 a year) and lowest...
Owners of private businesses often wonder: how much is my business interest worth? Financial statements are a logical starting point for answering this question. Here is an overview of how financial statements can serve as the basis for value under the cost, income, and market...
Under the Affordable Care Act (ACA), certain employers must report health care plan information to the IRS and employees. Specifically, IRS Forms 1094/1095-B (B Forms) and IRS Forms 1094/1095-C (C Forms) may need to be submitted for the 2017 tax year. The agency recently extended...
It appears 2018 may be a difficult year for investors. Yields on bonds, bank accounts, money market funds, and other savings vehicles are extremely low, with questionable prospects for substantial increases. Stock market indexes, on the other hand, are at or near record levels. In essence,...
For many years, owners of small and mid-size businesses looked at outsourcing much like some homeowners viewed hiring a cleaning person. That is, they saw it as a luxury. But no more — in today’s increasingly specialized economy, outsourcing has become a common way to...
Non-profit board officers, directors, trustees, and key employees must avoid conflicts of interest because it is their duty to do so. Any direct or indirect financial interest in a transaction or arrangement that might benefit one of these individuals personally could result in the loss...
The IRS has just announced it will begin accepting 2017 income tax returns on January 29. You may be more concerned about the April 17 filing deadline, or even the extended deadline of October 15 (if you file for an extension by April 17). After...
You have probably heard that confidential hotlines are one of the best ways to uncover occupational fraud. After all, when employees steal, their colleagues (as well as customers and vendors) are more likely to be aware of it than are managers in the executive suite....