Posts Tagged ‘Accounting’
Forensic Accountants and Your Divorce Case
Divorce rates in the United States fluctuate between 40 and 50 percent, ranking it 6th amongst countries with the highest divorce rates in the world. In fact, it is estimated that there is a divorce every 13 seconds in America. When a marriage ends, the separating couple and all of those close to them are…
Read More10 Tax Deductions Disappearing in 2018
Most people are aware that when the tax reform bill came into law (the Tax Jobs and Cuts Act of 2017) a lot of changes were on the horizon. However, many are still largely unaware of the specifics regarding those changes and how they will impact both individuals and corporations. As the tax-related provisions were…
Read MoreRobotic Process Automation and the Future of Accounting
Accountants have relied on calculators for over a century, underlining the important of technology’s role in reducing errors and streamlining financial reporting. So, it’s no surprise that the advancement of technology is trending towards a virtual workforce. As progressive software and robots trickle their way into our daily lives, the reality is setting in that…
Read MoreLitigation and the Role of a Forensic Accountant
Attorneys across the globe turn to forensic accountants and their expertise to assist in their efforts as they navigate their clients’ legal disputes and potential litigation. Often called upon either before litigation or during litigation, forensic accountants are tasked with the role of lending their specialized understanding and knowledge of financial issues as they relate…
Read MoreThe Importance of a Forensic Accounting Expert Witness
From corporate fraud investigations to marital asset disputes to a myriad of other financial issues in between, legal proceedings often require an expert to analyze, investigate, and interpret complex financial data and information. A forensic accountant has the unique knowledge and skillset that will offer a legal matter crucial insight and analysis needed to resolve…
Read MoreForensic Accounting Basics Principles
Forensic accounting, sometimes referred to as financial forensics or forensic accountancy, is a specialty practice area where accounting skills are utilized to investigate potential embezzlement or fraud through the analysis of financial information. This information is then eventually used in actual or anticipated legal proceedings, like litigation or disputes. In fact, the word “forensic” is…
Read More11 Common Tax Filing Mistakes
The late John Wooden once said, “It’s the little details that are vital. Little things make big things happen”. While a college basketball coach (who happens to rank first in NCAA Division I Men’s Final Four appearances) may seem irrelevant to filing taxes, the truth is that paying meticulous attention to detail is absolutely critical…
Read MoreCommon Methods of Hiding Assets in a Divorce
The process of hiding assets in the event of an upcoming divorce or a current divorce is all too often commonplace in today’s world. In many cases where a divorce is imminent, high net worth individuals are tempted to hide assets from their partner in an attempt to conceal and safeguard their wealth. Whether they…
Read More7 Actions That Could Get You Audited By the IRS
Contrary to popular belief, the Internal Revenue Service (IRS) seldom audits taxpayers. In fact, only about 1 percent of all tax returns processed are subject to an IRS audit. However, it is interesting to note that historically wealthier individuals and the most successful of businesses are more likely to get audited, compared to low to…
Read MoreTax Preparation for a Smooth Tax Filing Season
Mark Twain once said, “I shall never use profanity except in discussing house rent and taxes.” Expletives aside, paying taxes is stressful to everybody, no matter what specific financial situation one might find themselves in. Almost always met with frustration, stress, and scrambling, tax filing season is something that everyone dreads. The majority of the…
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