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A business owner first became suspicious when one of her managers bought an expensive boat that seemed beyond his pay grade. A closer look at the employee and his department revealed sloppy record keeping and financial discrepancies. Was he stealing from the company? Forensic accountants can help answer such questions. One of the most effective techniques for finding hidden income sources or assets is lifestyle analysis. It involves developing a...

When it comes to tax law changes and estate planning, the substantial increases to the gift and estate tax exemptions under the Tax Cuts and Jobs Act are getting the most attention these days. But a tax law change enacted in 2015 also warrants your attention.   That change generally prohibits the income tax basis of inherited property from exceeding the property’s fair market value (FMV) for estate tax purposes....

Once an employer identifies a prospect for an open position and sets up an interview, another great challenge arises: How do you effectively use the interview to determine whether this person is right for your organization? One way is behavioral interviewing — a technique in which you frame your questions to candidates to elicit real-world stories from previous work experience. The answers your interviewees give can offer a glimpse of...

Technology is tricky. Much of today’s software is engineered so well that it will perform adequately for years. But new and better features are being created all the time. And if you’re not getting as much out of your financial data as your competitors are, you could be at a disadvantage. For these reasons, it can be hard to decide when to upgrade your company’s accounting software. Here are three...