As the blockchain revolution begins, businesses are finding new ways to implement the technology into the products or services they offer. This article discusses ways that blockchain will eventually change your business, and why your business should be prepared for the blockchain revolution. To view this article, click the following link to access the original […]
by Michael W. Blitstein, CPA The IRS has released guidance and posted online Frequently Asked Questions (FAQs) for employers planning to claim the enhanced Work Opportunity Tax Credit (“WOTC”) for hiring qualified military veterans. The guidance contains transition relief, describes electronic submission of the form used to claim the credit and describes the procedures for […]
by Michael W. Blitstein, CPA The IRS announced enhancements to its “Fresh Start” initiative by providing higher dollar thresholds for using the streamlined application process for installment agreements and new penalty relief for qualified individuals affected by the economy in 2011. The IRS doubled the dollar threshold amount and increased the maximum term for streamlined […]
by Larry Goldsmith, C.P.A., J.D., M.A.F.F. In a recent case (which happens to be someone I know) the Appellate Court of Illinois ruled: “That if you fail to engage in formal discovery to ascertain the respondents’ net worth or assets that were or were not disclosed, then you did not act diligently and therefore lose […]
by Larry Goldsmith, CPA, JD, CFF, MAFF I want to share three quick stories where ethical considerations were considered when accepting or continuing engagements. Case #1: A Partnership Dispute, or, The Devil and Larry Goldsmith The Forensic Accounting portion of my business was uncharacteristically slow. Cases had been settled, and depositions and trials were delayed […]
By: Larry Goldsmith, J.D., C.P.A., C.F.F.A. Partner at CJBS, LLC In these difficult economic times, there will be many businesses that will no longer be able to meet their current obligations. Their lenders will refuse to advance additional capital and the financial pressures will force the closely held business owner into Chapter 7 bankruptcy. There […]
by Larry Goldsmith, C.P.A., J.D., C.F.F.A. Why should your law firm or bank hire me and the CJBS team as your court-appointed receiver? Unlike some receivers who merely seek to profit from the quick liquidation of an operating entity, I strive to realize the business’ true net worth. I objectively analyze the business and develop […]
Donald J. Schaffer by Michael Blitstein, CPA, and Donald J. Schaffer, CPA/ABV, CVA, CFF Insurance companies have begun to issue rebates to policyholders on premiums resulting from final rules on the calculation and payment of medical loss ratio. As a quick summary, workers are entitled to the same share of the rebate as they pay for […]
When it comes to liability insurance, the saying “you can never be too prepared” is certainly apt. While business owners cannot predict what happens day to day or year to year, they can look into purchasing business liability insurance in order to give themselves peace of mind. The first step is to understand why it’s […]
Please join us in congratulating CJBS team member Susan Gu on her 15th anniversary at the firm! As a manager who works primarily in the tax and accounting departments, she focuses on tax consulting, preparation, and reviews, as well as financial statement compilation. We caught up with Susan to talk about her work milestone and […]