Save courtroom time, promote collaboration between CPA experts

When I have to testify regarding my opinion of value regarding the ownership interest in a business, I have found a particular strategy that speeds up my time on the witness stand. The strategy often helps settle not only business valuation differences between appraisers, but those relating to economic damages cases as well – before …

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IRS Creates1023-EZ Streamlined Application for Tax Exempt Status

For an organization to be recognized as a 501(c)(3) tax exempt organization, it is generally required to submit Form 1023 to the IRS. Form 1023 is a 28 page, time intensive form that may be difficult to complete for many smaller nonprofits. As a result the IRS is currently in the process of creating Form …

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10 Steps to Put on Your Retirement Planning Checklist

The average American doesn’t give proper attention and consideration to retirement financial planning for a variety of reasons (excuses). Perhaps you don’t have time in your day-to-day life to squeeze in financial planning because it seems complicated and time consuming. Maybe you think it can be done next year; what’s the rush to do it …

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AZ Child Support: FAQs of a Forensic Accountant

The Arizona Child Support Guidelines provide a standard of support for children and are based on both the needs of the children and the ability of the parents to pay. The Guidelines provide specific calculations to perform in order to determine the proportional share that each parent should pay based on various factors. In order …

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Key Dates & Milestones: Social Security, Pensions, IRAs, Medicare

There are many age-related financial and planning milestones that you need to be aware of in your sixties. Keep this list in mind. 59 ½ – Penalty Goes Away This is the age at which one can withdraw money from traditional IRAs, 401(k)s or similar retirement plans without restrictions and without an added 10% tax …

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How is Compensation Defined?

Compensation in its simplest form is pay in exchange for services rendered, although gross pay includes additional forms of compensation aside from the hourly rate paid to employees. In reference to 401(k) plans, the term “pay” becomes more complex. Under the statutory safe harbor regulations an employer is required to include additional forms of compensation …

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