When Do I Need a Forensic Accountant?

In my November 7, 2014 blog, I wrote broadly about the role of a forensic accountant in analyzing, clarifying, and summarizing complex financial situations.  As a reminder, forensic accountants are frequently contracted as experts in litigation or as financial consultants in contentious circumstances, namely spousal divorces or business transactions. In many instances, personal and small
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Five Challenges Ahead for Small Businesses

How to prosper in a changing environment It was not long ago that there was no Internet and only international spies had cell phones. The changes occurring these days are happening at breakneck speed, and small businesses are hard-pressed to keep up. However, it is important to adapt to the latest developments and incorporate them
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Part 2: Income Approach to Real Estate Valuation

Income Approach to Valuation: Picking up where we left off in our last conversation there are three common approaches to valuation, Cost, Income and Sale Comparison Approach.  We started off with the Cost Approach in our last discussion and now we are moving on to the Income Approach.  The income approach to value, also known
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Nailing Down Deductions for Charitable Gifts

Observe strict 2014 tax return requirements If you are like many taxpayers, one of the biggest tax deduction items on your return is charitable donations. But deductions are not automatic if you do not have the proper records to back up your claims. Here are several important reminders for the current tax filing season: Monetary
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Raise the Bar on Your Financial Reporting in 2015

Are you a small business owner and the financial information you work with is always historical and outdated?  Do you compare your financial results to your historical statements?  This is commonplace for small businesses but makes it difficult to effectively manage your business and reach your goals.  Here are a few priorities to improve financial
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New Law Renews Expired Tax Provisions

One-year extension retroactively approved After lengthy debate, Congress finally approved a laundry list of “tax extenders” before it adjourned in 2014. But the respite is only temporary. The Tax Increase Prevention Act of 2014 (TIPA)—signed into law on  December 19, 2014—applies retroactively to the beginning of 2014 but lasts for just one year. Thus, Congress
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