Category: Business Consulting and Planning

Business Consulting and Planning

Cash Flow Management is Key to Businesses Health by Debra Sears, CPA


Posted on November 07, 2023 by Debra Sears

Cash is king, especially when it comes to small businesses. An entrepreneur’s ability to effectively manage cash flow ultimately can mean the difference between success and failure. To keep the cash flow engine operating at optimal performance through economic headwinds, such as rising interest rates and tightening of credit availability, business owners should consider the […]

FASB Approves More Detailed Income Tax Reporting Standard for Public and Private Companies by Brent Leslie, CPA


Posted on October 31, 2023 by Brent Leslie

The Financial Account Standards Board (FASB) recently voted to approve a new accounting standard that will require U.S. businesses to disclose significantly more details about their global income tax liabilities beginning as early as 2025. The move is a part of the FASB’s larger effort to improve the effectiveness of disclosures in the financial statement […]

Outsourcing CFO Services Yields Significant Benefits for Small, Mid-Size Businesses by Debra Sears, CPA


Posted on October 17, 2023 by Debra Sears

Operating a small business comes with a wealth of opportunities and an equally abundant set of complexities, including tax reporting, regulatory compliance and meticulous financial recordkeeping. For many entrepreneurs, hiring full-time professionals to oversee these functions in-house is simply unaffordable. Instead, a growing number of businesses are turning to outsourced CFO services for on-demand assistance with […]

Tax Implications for S Corporations Filing for Bankruptcy by Richard E. Cabrera, CPA, JD, LLM


Posted on October 12, 2023 by Richard Cabrera

Just as business owners must consider the tax implications of their companies’ legal structures before beginning operations, special care should be taken to address these issues on a consistent basis throughout the organization’s lifecycle, especially before filing for bankruptcy. According to the IRS, the majority of US corporations are structured as pass-through entities, including sole […]

Insurance Claim Audits Help Physicians Ensure Billing, Reimbursement Accuracy by Whitney K. Schiffer, CPA


Posted on October 11, 2023 by Whitney Schiffer

Just as annual checkups help patients identify health issues before they become bigger problems, insurance claim audits can help medical practices detect potential revenue cycle problems before they result in significant financial losses. Declining commercial insurance rates and reimbursements have become persistent problems for physicians in private practice, who also face increasingly complex and costly […]

How to Protect Art Collections from Gift and Estate Tax Exposure by Lewis Kevelson, CPA


Posted on October 03, 2023 by Lewis Kevelson

According to a recent study by Art Basel and UBS, global art sales in 2022 exceeded pre-pandemic levels, reaching $67.8 billion in transactions. Buyers, ranging from high-end collectors to Gen Xers and Millennials, increasingly recognize art’s value as an alternative investment in a fragile economic and geopolitical environment. However, as buyers grow their collections, they […]

4 Red Flags of Employee Retention Credit Abuses by Joseph Leocata, JD, CPA, MBA


Posted on September 28, 2023 by Joseph Leocata

The introduction and subsequent expansion of the employee retention credit (ERC) offered a valuable lifeline to businesses struggling to preserve jobs and pay workers through the pandemic despite interruptions to normal operations or significant declines in gross revenue. However, over time, the IRS has identified a significant number of schemes perpetrated by criminals to con […]

A Cautionary Tale About Expert Testimony in Damages Calculations by Joel Glick, CPA/CFF, CFE, CGMA


Posted on September 19, 2023 by Joel Glick

A Pennsylvania judge recently vacated a plaintiff’s $25 million damages award based on the plaintiff’s expert failure to provide at trial “a sufficient factual basis” for the numbers he relied on for calculating lost profits. Although the judge in Paramount Financial: Civil Action Communications, et al. v. Broadridge investor: Communications Solutions agreed with the jury’s […]