Knowledge and Insights: Newsletters

7 Ways to Enhance Your Compliance Function

Ensuring your bank’s compliance function is effective and meeting expectations is of the utmost importance to regulators. This is evident through the design of the examination process and creation of a standalone regulatory agency focused on consumer compliance, in addition to an increasing number of regulatory changes and enforcement actions in recent years. With that…

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Do You Have an Exit Plan?

Many business owners spend decades building their companies. But there will come a day for all when it is time to exit. Too many business owners allow time to lapse, losing the maximum value and benefits of their lifelong work. Do you understand all of the options before you and have you devised a sound,…

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Why You Should Consider A Fractional CFO For Your Business

In today’s hybrid environment, outsourcing is commonplace and remote work has never been more accepted.  Combining those shifts with the need for more strategic thinking and financial leadership, your business could be in a prime position to benefit from a fractional CFO.  CFOs do substantially more than just maintain books and records and pay the…

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10 Ways to Protect Your Institution During Uncertain Times

We’ve all read the shocking news of recent financial institution failures. We’re also well aware of quickly rising interest rates and volatility in the market. Regulatory scrutiny is coming, and your institution’s asset/liability and liquidity management (ALLM) processes will fall under more intense review. Are you ready for that? Let’s start by looking at how…

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The CPA’s Role in Evaluating & Quantifying Economic Damages

In today’s litigious society, disputes culminating in lawsuits are inevitable.  Economic damages are often awarded to make injured parties financially whole, and in some cases, that appears to be cut and dried.  However, supportable economic damage assessments that withstand the trier of fact’s (judge or jury) scrutiny are derived from complex calculations performed by third-party…

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Self-Employed Retirement Plans: What Plan Is Right For You?

Self-employed (SE) individuals have the opportunity to create a nest egg while potentially reducing their current tax liabilities.  An added challenge to being self-employed is understanding the best way to save for retirement on your own.  Determining which specific self-employed retirement plan is the right fit for your needs, goals and circumstances is dependent on…

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How To Use & Optimize the Benefits from a Health Savings Account (HSA)

What is a health savings account (HSA)? A health savings account (HSA) is a savings vehicle established to set aside funds tax free to pay for health care expenses. HSAs, created as part of the Medicare Prescription Drug and Modernization Act of 2003, allow individuals who have high-deductible health plans (HDHPs) to save money for…

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Understanding Your Retirement & Benefits in a Government Plan

With another fiscal year-end (June 30th) in the rearview for the State of New Jersey’s Division of Pensions and Benefits (the Division), it is as good a time as any for plan members to brush up on their benefits. The Audited Comprehensive Financial Report for 2021 offers great insight into how members respective pension plans…

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What Do You Need to Know About the Accelerating Charitable Efforts (ACE) Act?

The Accelerating Charitable Efforts (ACE) Act is proposed legislation aimed at reforming the tax laws that cover charitable donations made by Private Foundations (PFs) and Donor Advised Funds (DAFs). The Act is supported by a bipartisan organization called The Initiative to Accelerate Charitable Giving, or IACG. One aim of the proposed legislation is to restructure…

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Why You Need a Forensic Accountant in Your White-Collar Crime & Corporate Fraud Cases

It’s easier and less expensive to prevent corporate fraud and white-collar crime than to recover from it, or defend against it, after the fact. According to the Association of Certified Fraud Examiners (ACFE) 2020 Report to the Nations, organizations lose an average of five percent of their annual revenue to fraud each year. So, although…

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