Thought Leadership

Vintage Hotel Key Rack

How Entrepreneurs Must Treat Expenses on Their Tax Returns

Have you recently started a new business? Or are you contemplating starting one? Launching a new venture is a hectic, exciting time. And as you know, before you even open the doors, you generally have to spend a lot of money. You may have to train workers and pay for rent, utilities, marketing and…

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Magnifying Glass on Green Page

Can You Spot a Conflict of Interest?

Conflicts of interest can present significant fraud risks for school districts. They are also one of the most difficult areas of fraud to investigate and document — and, if you’re not careful, an improper investigation can create counterclaims and civil actions against your district and fraud…

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Open Book & Magnifying Glass

Why Executives Pose the Greatest Occupational Fraud Risk

In its 2018 Report to the Nations on Occupational Fraud and Abuse, the Association of Certified Fraud Examiners (ACFE) reported that owners and executives accounted for only 19% of all fraud cases. Yet they caused a median loss of $850,000, vs. a median of $100,000 for rank-and-file employees.…

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Restaurant Place Setting

Deducting Business Meal Expenses Under Today’s Tax Rules

In the course of operating your business, you probably spend time and money “wining and dining” current or potential customers, vendors and employees. What can you deduct on your tax return for these expenses? The rules changed under the Tax Cuts and Jobs Act (TCJA), but you can still claim some…

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Side View of Keys in Door Knob

Complex Variable Interest Entity Rules Relaxed for Private Companies

When private manufacturers own real estate or expand to new business ventures, they often set up separate legal entities to hold those properties. Current accounting rules require financial data from such “variable interest entities” (VIEs) to be consolidated on the controlling entity’s balance…

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Modern Wall of Windows

ESG Issues: To Report or Not to Report?

Securities and Exchange Commission (SEC) Chairman, Jay Clayton, recently stated that public companies should not be required to disclose information concerning environmental, social and governance (ESG) matters in their financial statements, using a standardized format. Currently, these disclosures…

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Office Supplies on Graph Paper in Binder on Wooden Table

What Do Shareholders Say on Pay?

In spite of a 2011 federal rule that allows public-company shareholders to weigh in on CEO compensation, a recent study found that executive pay at large public companies has continued to increase. The 2018 Equilar CEO Pay Trends report nevertheless found that companies tended to lower CEO pay…

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Billfold in Demin Pocket

More Than Hours and Rates — Internal Controls over Payroll

When most administrators think about controls over payroll, they are primarily worried about fraud — that is, paying for time someone didn’t actually work. However, that’s not the only risk: ensuring faculty and staff are paid accurately is just as important. And as important as preventing mistakes…

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