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 […]
The 10 “Must Dos” After A Divorce - June 11, 2014
by Larry Goldsmith, C.P.A., J.D., C.F.F., M.A.F.F. The court room drama has ended, yet too often the newly divorced fail to separate financially from their ex. Failure to separate yourself and the ex’s credit cards, bank accounts and your financial plans may have undesired consequences. Now that your divorce is finished, please consider the following […]
How Cannabis Operators Can Improve Their Data Security - August 14, 2023
Internal controls are procedural safeguards put in place to protect access to financial information and transactions. Setting up internal controls is critical for any business to prevent fraud, but it is even more important for cannabis operators–as the industry is especially susceptible to fraud. We discuss internal controls in detail in this webinar with Partner […]
Overcoming the Myths: Taking Control of Your Money & Your Future - September 9, 2014
Larry Goldsmith, CJBS, moderates this dynamic conversation about women and finance. Thursday, September 11th at The East Bank Club, 4:30 to 6:30 pm. Moderator: Larry G. Goldsmith, C.P.A., J.D., C.F.F., and M.A.F.F. Panelists are dynamic, experienced professionals who are passionate about empowering women to take control of their financial future. Julie Murphy Casserly, CLU, ChFC, […]
IRS Ramping Up For Increased Tax Audits - October 21, 2011
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 […]
Retirement Plan Limitations for 2012… - November 21, 2011
by Michael W. Blitstein, CPA Internal Revenue Service has announced the following limitations for 2012 retirement plans: Employee Deferrals: IRA account – 100% of earned income up to $5,000; age 50 and older catch up $1,000 SIMPLE – 100% of earned income up to $11,500; age 50 and older catch up $2,500 401(k) – $17,000; age 50 and […]
Can You Discharge Those Unpaid 1040 Taxes in Bankruptcy? - February 12, 2016
by Larry Goldsmith, CPA, JD, CFF, MAFF Last week, I reviewed a new client’s IRS transcript. The client apparently filed his individual income tax returns late and wanted to file bankruptcy to discharge his 1040 tax obligations. I subsequently learned that the IRS filed substitute individual income tax returns on the client’s behalf and issued […]
Larry Goldsmith to Address Highland Park-Highwood Legal Aid Clinic - December 21, 2016
Larry Goldsmith, J.D., C.P.A., M.A.F.F., will speak on the subject of Financial Discovery at the Highland Park-Highwood Legal Aid Clinic on Wednesday, January 18th, 2017 at 7:00 pm. Financial discovery, including careful study of tax returns, is an important part of the process for uncovering useful information in legal proceedings involving divorce or other litigation matters. Larry […]
Helping You Keep Up On HR Compliance – And Keeping Your Employees And Business Safe - February 12, 2021
Last summer, we wrote about the importance of keeping employees safe during the pandemic, both for their sake and to protect your business from possible litigations.
Death Warrant in the Tax Proposal? - November 16, 2017
The Senate and Congressional income tax bills propose to eliminate itemized medical deductions. For the elderly, who depend on pensions and social security income, and who require nursing homes and private caregivers, this deduction is essential. Nursing home expenses and caregiver costs can easily exceed $100,000 annually. If an elderly individual with an annual income […]