Our Articles
New Restrictions on Offshore Interests: An Examination of IRC § 457A
On October 3, 2008, President Bush signed into law the Emergency Economic Stabilization Act of 2008, colloquially referred to as the Financial Bailout Bill. This Act’s provisions primarily addressed the $700 billion financial rescue with a number of extensions for popular expiring tax cuts included. [read]
Client Portal Technology
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]
Elder Care Services:
Review of Current Medicaid Rules for 2009
This article will discuss the impact on Medicaid eligibility due to changes to the “look-back” and penalty periods, consideration of home equity as an asset, and how Annuities are treated. [read]
Assisted Living - The Tax Issues
One of our certified senior advisors at Konowitz, Kahn & Co. explains the tax issues and deductions associated with assisted living and points out how long-term care and chronic conditions can factor into the equation for the patient and their caregiver. [read]
Medicare Home Health Services: Are Beneficiaries Receiving Adequate Care?
When are home health services covered by Medicare? One of our senior advisors at Konowitz, Kahn & Co. clarifies the criteria that make a person eligible for Medicare reimbursed services at home. [read]
A Reverse Mortgage Can Enhance Your Life
Learn the details of how a reverse mortgage works and how it can benefit homeowners age 62 and older. This article explains eligibility rules, the amounts of cash available, the payback and some of the advantages and disadvantages. [read]
Is Your Home Protected from Medicaid?
There are some fine lines and special conditions involved in considering Medicaid eligibility as it relates to a person’s home. [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]
Marketing
Privacy Rules Meet the Electronic Age: A Marketing Perspective (CSCPA Magazine, May/June 2009)
For more than 30 years, Section 7216 has been in place to give tax payers protection and control over their tax return information that is held by tax return preparers. In addition to all the financial data and documents gathered for the preparation of taxes, tax return information also includes general contact information like name, address, social security number, phone, and email address. This article explores the impact of recent Section 7216 updates on marketing functions within CPA firms. [read]
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