Insights

Insights
CJBS

A Look at Student Loans: Who Pays the Price of Higher Education?

by Larry Goldsmith, C.P.A., J.D., C.F.F.A. Speaking at the University of Colorado in Denver recently, President Obama announced new executive actions to lower student loan payments. The initiative accelerates an income-based repayment plan that reduces the maximum required payment on student loans to 10% of annual income. The measure was supposed to go into effect […]
November 1, 2011
2 MIN READ
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CJBS

IRS Ramping Up For Increased Tax Audits

by Michael W. Blitstein, CPA  One of the greatest fears of taxpayers is facing an audit by the Internal Revenue Service.  Many clients we have represented in IRS audits liken the experience to going to war.  There is the mentality of “us vs. them”.  And this mentality is often warranted.  Even though virtually every Federal […]
October 21, 2011
2 MIN READ
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CJBS

Greed or Ignorance – Which Costs More?

by Larry Goldsmith, C.P.A., J.D., C.F.F.A. Was it legal greed or ignorance that deprived a divorcing wife her reasonable financial settlement and left her destitute after a 30 year marriage? Recently a woman in distress called me to perform forensic accounting to ascertain and document the amount of income her husband truly received from a […]
October 10, 2011
3 MIN READ
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CJBS

It’s a Great Time to Make a Deal with the IRS

by Larry Goldsmith, C.P.A., J.D., C.F.F.A. Just a brief note to let people know that this is an excellent time to work out unpaid tax obligations with the Internal Revenue Service.  I recently negotiated what I think are excellent settlements for two clients: 1. A real estate developer and contractor with $1,000,000 of payroll tax […]
September 19, 2011
1 MIN READ
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CJBS

Should a Not-For-Profit Form an Audit Committee?

by Andrew Lotts, member, CJBS With the Sarbanes-Oxley Act (SOX) of 2002, there has been limited direct impact on nonprofits, remembering that SOX is law for publicly traded companies only.  However, many forward-thinking not-for-profits are asking themselves what parts of the SOX they should consider enacting as a part of best-practices. In fact, the Attorney […]
August 31, 2011
6 MIN READ
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CJBS

S Corporation Stockholder-Employee Compensation

by Michael W. Blitstein, CPA  S corporation stockholder-employees and their tax advisers often find themselves with conflicting goals when setting the stockholder-employee’s compensation. Typically, the stockholder-employee prefers to minimize compensation in favor of distributions to reduce payroll taxes. Tax advisers, however, are faced with a body of governing authority providing that the stockholder-employee cannot avoid […]
August 16, 2011
6 MIN READ
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