Blog

Your Most Trusted Advisors

Yesterday a client made me realize how much a CPA needs to know and is responsible for. She graciously said that you need to be a special person to do the kind of work that we do. I came to realize that Marvin and I have both been working in the field of accounting for […]

Brexit Reactions

Stock Markets around the world have been hit hard, but what should an individual investor do? We like to follow Warren Buffet’s Strategy which is to invest in Quality Stocks and be in the market for the long haul. The Doomsday-sayers have it wrong, while the markets are still down as a reaction to the […]

Thinking of Divorce? Speak to your CPA

Untangling the affairs of a failed marriage is full of financial & tax pitfalls. It is prudent to speak to an impartial professional before either party engages in the service of an attorney. The major items of concern are whether divorce is the only option, what do both parties really want? 8 Important things to […]

Phishing: Are you the next target?

A client of ours contacted us regarding a suspicious phone call she had received. A woman claiming she was from the IRS told our client she owed the federal government money for “tax payments“ she “hadn’t payed“. What makes this case especially interesting? Our client happens to be a foreign national, and was threatened with […]

What are Options on Stocks?

“Options on stocks, indices, and futures often get a bad rap. Journalists, pundits, and casual market observers criticize these derivative financial instruments as too complicated, subject to abuse, and difficult to understand, value, and trade profitably.” – The Options Edge The Options guide provides step by step explanations of what Options can do for you, […]

Web Scams

Our Client is a tech company that deals with international companies located throughout the world. As such payments to and from his company must be done via wire transfer. These transactions are often in the six figures therefore making these transfers in a secure fashion was a priority.   Like all clients his computer system […]

Fraudulent Checks

One of our major clients, who issues between 400 and 500 payroll checks for each pay period, has twice this year been a victim of fraudulent checks. Its gotten to the point where banks will not process any payroll checks. The most likely cause of this problem is security of the processed checks, now that […]

Credit Card Scams

One of our clients received an official looking email from JP Morgan Chase informing him that there were suspicious charges, which the bank believed to be fraudulent. As requested in the email he called the telephone number that was listed and a customer representative proceeded to help him. Very quickly she started to ask personal […]

The Importance of keeping Receipts

Every year we prepared our clients tax return from information he supplied us with. He owns his own business, which is in the service industry and which he conducts as a sole proprietor. Even though his yearly revenue varies, his expenses remain fairly constant year over year. The IRS decided to audit his 2012 business […]

Deja vu all over again

At the end of every year, it seems, taxpayers wait anxiously for Congress to enact extensions of popular business tax breaks, and every year Congress waits to act until what seems like the last possible moment. Given the current Congress’ extreme dysfunctionality it’s even more worrisome that Congress will do the right thing.   Among […]