Analyzing Income or Cash Flow in Spousal Divorce

In my previous blog, posted in April, I discussed who hires a forensic accountant in spousal divorce and offered broad categories of what the forensic accountant might be hired to do: analyze income or cash flow, trace separate property, uncover and quantify previously undisclosed assets, summarize money spent on extramarital affair(s), or analyze tax consequences
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529 Plans A Tax-Smart Way to Save for College

Key Lesson: Q’s and A’s on 529 Plans Despite recent proposals to scale back benefits, Section 529 plans remain a tax-favored way for parents to set aside funds for college. Here are the answers to several key questions on the subject: Q. What exactly is a Section 529 plan? A. It is a type of
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There’s No Tax Place Like Home!

Reap top benefits from home-sale exclusion Although the government has chipped away at some of the biggest tax shelters for individuals, at least one solid foundation is still standing: your home. During the period when you own a home, it can be a source of valuable tax deductions for mortgage interest and property taxes. Even
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Don’t Be Swept Under by the Nanny Tax

Tax obligations of a household employer Do you employ a household worker—perhaps a babysitter or a housekeeper—on a regular basis? Much to your surprise, you may be treated as an “employer” for federal tax purposes. As a result, you could face certain obligations you were not aware of. These tax responsibilities are often collectively referred
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Understanding Working Capital in the Sale of a Business

We’ve come across several sales transactions in the last year and the concept of Net Working Capital (NWC) is always a point of contention once the deal is closed. A typical deal is priced on a debt-free/cash-free basis, meaning the seller retains the cash but also pays off any debt with the proceeds of the
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