Blog

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 […]

How long to keep your tax return and why

How long should I keep my tax documents for? This is a common question we encounter quite often. We suggest that you keep copies of all of your old income tax returns as well as w2’s, as there may be many unanticipated issues such as documentation of social security wages. However it does not seem […]

IRS2Go 5.0 Smartphone App

In this golden age of technology, communication has become one with convenience, not just in how we contact one another, but how we interact with businesses, banks, restaurants, and even government services. The Internal Revenue Service released their new smartphone application IRS2Go 5.0 which is compatible with both Apple and Android devices. It’s free for […]

Who is watching the Hen house?

Reading through CPA Practice Advisor, we came across an article about some IRS employees who ran schemes to collect personal information and file fraudulent returns to receive tax refunds. Personal information these days are within arm’s reach it seems, hackers & scammers constantly changing the name of the game. We’re used to reading about it […]

Another filing season has come and gone

If there is one season that we observe as a whole in this nation, it’s tax season. We accountants see our clients information flooding in along with handling many frantic phone calls as to how we arrived at their tax bill. All the while trying to pay attention to the immediate and fine  details that […]