Our Articles
Business Taxes
Important Tax Information for LLC's that Generate Losses
What happens if you're the owner of a limited liability company (LLC) that generates tax losses, and you don't spend a lot of time in the activities of the business? Recent court decisions make it much easier for LLC owners to deduct LLC losses from non-rental activities in the year they are incurred. [read]
Business Development
CPAs and Attorneys: Creating a Win-Win through Networking and Collaboration
Building a network of professional contacts is necessary in order to do the best job for your clients
and to create new opportunities for business. The nature of the CPA-client relationship is steeped in trust and can span decades. Many find that during their client relationships, they will work with their clients’ other advisors.
Client Portal Technology. [read]
A Safe Way to Send Documents in Cyberspace -- Client portals offer far more security than emails
Law firms, CPA firms, physicians’ offices, and insurance companies use, store and share myriad documents — all containing the most personal of information on their clients. As fast as the pace of technology moves forward, so does the ingenuity of computer hackers, who rise ever higher to the next firewall challenge. [read]
Cash Management
Cash Management in Trying Economic Times: A Survival Guide for Management
In prosperous times, cash flows in and accounts receivables aren’t much of a concern to a
business owner. But, in tough times like these, every penny counts, since fewer are
flowing in. Like sealing the doors of a dam at the mouth of a great river, the flow of vital
resources can be cut to a trickle very rapidly, affecting everything and everyone that
depends on it for its livelihood. [read]
Personal Financial Planning:
Fixed Annuities -- Worth A Look
This article briefly explains the fixed annuity as a tax-deferred investment. A registered investment advisor at Konowitz, Kahn & Co. highlights the advantages while pointing out a few cautions. [read]
Real Estate:
Cost Segregation Study Can Accelerate Deductions
If you own a building or are currently constructing, expanding or purchasing a building, you may benefit from a cost segregation study. This article looks at how a cost segregation study can properly allocate a building’s costs for deduction purposes. [read]
Forensic & Litigation Support:
Occupational Fraud - Opportunity Knocks, Lock The Door!
Looking at the issue of occupational fraud in small business, one of our certified fraud examiners at Konowitz, Kahn & Co. provides an eye-opening summary of this growing problem and offers tips on how a business can protect itself. [read]
How to Report Identity Theft
Identity theft is the fastest-growing financial crime in the United States. Learn the steps to take to report identity theft and start repairing the damage it causes. [read]
Company Business:
Independent Contractor or Employee?
Using independent contractors can be a cost savings, however employers need to be careful about the distinction between an independent contractor and an employee, especially when it comes to IRS reporting. This article outlines criteria the IRS uses in determining how a worker should be classified for purposes of federal employment taxes and income tax withholding. [read]
Burden Fringe and Overhead (BFO) Audits:
How Do Burden, Fringe and Overhead Audits Provide Engineering Firms With a Competitive Advantage?
A burden, fringe and overhead (BFO) audit gives an engineering firm a competitive advantage when seeking contracts with Connecticut's State Department of Transportation. This article outlines the importance of the BFO audit as a major component of the prequalification process. [read]
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