Are Valuations Experts Private Investigators?
Unless all relevant facts are already known, the valuation process involves researching a business, an individual or a set of assets and liabilities to determine their value. An alarming issue raised in the June 2013 Journal of Accountancy by the American Institute of Certified Public Accountants (AICPA) suggests that CPAs who engage in the practice…
Holiday Return Fraud Plagues Retailers
One in three people will return at least one gift they receive this holiday season. Last year, more than $60 billion in gifts were returned. Nearly $3 billion of them – 4.6 percent – were fraudulent returns. And the number is expected to rise this year. No doubt about it, return fraud is a major…
Home Prices Spike Upward in Last 12 Months
Home prices are showing the fastest growth in nearly eight years, with one-third of the housing markets nationwide showing double-digit increases. Nine out of 10 of the nation’s major metropolitan markets experienced price gains during the past 12 months, as the median price nationwide of a single-family home rose to $207,300 in the third quarter…
Trust in Online Advertising Growing, But Lowest of All Media
Maybe it’s the appeal of Don Draper and the success of Mad Men, but trust in advertising is significantly higher than it was six years ago. Trust in online advertising is increasing, as is the believability of television, radio and movie advertisements, according to a new global survey of 29,000 consumers in 59 countries by…
When are Signing Bonuses Amortized?
Most businesses assume that compensation is deductible when it is paid. However, a recent statement by the IRS raises the question of whether some upfront “signing bonuses” paid to employees who sign a multi-year employment contract must be amortized over the term of the contract, rather than deducted when paid to the employee. Signing bonuses…
Seven Steps to Prevent Gift Card Theft
The sale of gift cards has caught fire in recent years. More than $110 billion in gift cards were purchased in the United States last year as they became the No. 1 requested holiday gift. Gift cards are available at most businesses today, but their benefits to a business are not without problems. The chief…
Protect Your Business with a Buy-Sell Agreement
What would become of your business if something happened to you, your business partner or a fellow shareholder? If an owner dies, becomes disabled, divorces, declares bankruptcy or simply retires, your business could be thrown into turmoil. Not only would employees be affected, but the value of the business could fall. There might even be…
Charitable Growth Led by Corporations
The good news for nonprofit organizations is that charitable giving is on the rise. The not-so-good news is that it is expected to be another five years before contributions reach pre-recession levels, according to a recent report by Giving USA. Overall, there was a 3.5 percent increase in charitable giving for 2012, for a total…
How to Handle 2 Percent Shareholders Health Insurance
As the 2013 year-end closes in, it’s a good time to revisit the proper treatment of health insurance premiums and S corporation “2 percent shareholders.” If you own more than 2 percent of the outstanding stock of an S corporation (or stock giving you more than 2 percent of the total voting power), a good…
A Disturbing 70 Percent of Employees are NOT Engaged in their Jobs
It’s often said that an organization’s biggest asset is its people. But studies are finding that may be true only if the employees are actively engaged in their jobs. The sad fact today is that only 30 percent of employees nationwide are engaged, committed and enthusiastic about their work. The other 70 percent – and…