Knowledge and Insights: Newsletters

Cryptocurrency or Cryptonite?

In 2014, the Internal Revenue Service (IRS) issued limited guidance on cryptocurrency, which led to more questions than answers. As the use of digital currency has become more widespread in the last several years, the IRS has focused recent enforcement efforts on educating taxpayers, to help ensure they are compliant in reporting and disclosing their…

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The SECURE Act

On December 20, 2019, Congress passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act, which went into effect on January 1, 2020.  This is the broadest piece of retirement legislation passed in 13 years.  The changes affect many Americans and could make saving for retirement easier and more accessible for many individuals.  Below…

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The Emergence of 5G Wireless Communications: Why You Should Be Concerned

This article was featured in The Legal Intelligencer and on Law.com. Devices and Data in Leaps and Bounds The 1980s witnessed the world’s entry into data movement, as defined by generational wireless infrastructure. This first generation, or 1G, was the backbone that powered the brick-sized, hand-held, mobile devices with extending antennas, bag phones and the…

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Protecting Loans and Collateral: A Forensic Refresher

Lenders, usually through their legal counsel and/or compliance and risk departments, retain forensic accountants to uncover hidden assets when faced with a borrower’s default and failure to comply with stipulated loan obligations.  Such loans are generally collateralized through the borrower’s pledge of real estate, accounts receivable, inventory and other business or personal assets. Attempts to…

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Do You Have a Plan?

Whether you are a business owner or an employee, now is a good time to begin thinking about tax-efficient planning to maximize your after-tax income. Year-end planning for 2019 takes place against the backdrop of recent major changes in the rules for individuals and businesses.  Although the tax law changes were intended to simplify the…

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Alert for All Employers! Be Aware of Substantial Changes in NJ Employment Laws!

The State of New Jersey has made numerous changes to the employment laws in the last two years. Businesses large and small, as well as nonprofit organizations and government entities in New Jersey will need to adapt to meet the new requirements and reduce their exposure to enforcement actions and lawsuits. The following list of…

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The Near-Term for Nonprofits

I am happy to report that once again, Kyle, Lovepreet and I visited Washington, D.C. to attend the American Institute of CPA’s Annual Not-for-Profit Conference, held each summer.  While there, we packed in a lot of continuing education, discussions with peers, time with clients, and samples of new ethnic foods.  The three of us participated…

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The Risk of Medicaid Recovery Audits

In the health and human services sector, the years-long transition in the provider claims payment system – from contracted cost to fee-for-service reimbursement – is nearly complete.  One question that provider agencies now directly billing Medicaid are asking is: “When will we start seeing recovery audits?”  While recovery audits within waivered services in the State…

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Moving from “Great, an Audit” to a Great Audit

“Oh great, an audit!” When the word audit is seen or heard by most people working in any type of organization, it usually invokes a negative response.  They view the term as an unpleasant event that may be disruptive or unsettling to their normal course of business.  To add to the displeasure, audits generally are…

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Internal Audit: When Outsourcing Should Be Considered

Expansion and growth present both excitement and challenges for a company. During such periods, new systems are introduced, processes are redesigned and refined, and employees are trained in the changes. Management may find that what worked before may not be effective or efficient anymore. These changes lead to an increased demand on the company’s internal…

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