Congratulations to two of our shareholders for celebrating work anniversaries in November. Their longevity has contributed to the firm's success as GS Inc. continues to celebrate our 70th anniversary in 2020! Rick Parent, Managing Director and Audit and Accounting Shareholder, celebrated 15 years on November 7, 2020. Kevin Yardumian, Shareholder, will celebrate 30 years on [...]
With proper planning, collectors can enhance the financial benefits of their art collection. If you are a serious art collector, you should be aware of the numerous tax issues related to the ownership and transfer of art and collectibles. Following is a discussion of some of the more relevant tax issues and related tax planning [...]
If you've noticed an increase in unsolicited phone calls — even though you're on the Do Not Call registry -- you're not alone. The Federal Trade Commission (FTC) and the Better Business Bureau (BBB) warn that these calls may appear to come from a local business, your bank, a neighbor, or even from yourself. The point is to get you to pick up the phone.
Phone scams continue to become more sophisticated. When caller ID was introduced, it became easier for people to avoid unwanted calls, but it was only a matter of time until scam artists developed ways to use caller ID to entice people to pick up the phone. Scammers can mimic your bank or your credit card company or even a government agency like the IRS.
Tax identity theft is a growing epidemic. Two typical identity theft fraud schemes are: Refund fraud. The thief files a fraudulent tax return, reporting fictitious wages and withholdings, usually early in the year before companies are required to issue 1099s and W-2s. The thief pockets the refund, which is typically issued electronically or with a [...]
Shareholder, Kevin Yardumian was recently interviewed and cited as an accounting specialist in a CNBC/USA Today article about art and investing. The article titled, “Art, antiques investing is for the long haul,” discusses why someone might want to purchase art as an investment and what should be considered when investing in art, such as having [...]
Business fraud is everywhere. It can range from employees taking small items from the office to embezzling hundreds of thousands of dollars and crimes may be committed by anyone from the lowest-paid employee to someone in upper management. All too often, business owners are unaware of wrongdoing, sometimes refusing to acknowledge the possibilities – until [...]
Identity theft is a growing problem throughout the country, and it is affecting the filing of tax returns in a major way. The Federal Trade Commission reports that it continues to be the number one consumer complaint reported to the agency year after year. Identity theft can be a risk every time you swipe your [...]
If yours is like most construction companies today, your profit margins are thinner than usual. To protect the bottom line, it’s critical to implement solid internal controls to minimize fraud, error and waste. Fraud is a serious problem in the construction industry. In the 2010 Report to the Nations on Occupational Fraud and Abuse, a [...]