GKG CPAs Blog

When Do You Need a 401K Plan Audit?

Audited financial statements are required for your 401K Plan when your plan is considered a large plan.  The definition of a large plan is a plan that has 100 or…

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Double Dipping and Business Valuation
in Divorce

When divorcing parties are required to value a business for equitable distribution purposes, there is an additional equitable valuation issue to consider, commonly referred to as “Double Dipping.” This term…

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Buy-Sell Agreements: Why Your Business
Needs a “Prenup”

Sometimes referred to as a “Business Prenup” a Buy-Sell agreement defines what happens to the ownership of your business if there should be a triggering event involving you or a…

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Do Corporations or LLCs Always Protect You?

As an experienced forensic CPA and fraud examiner, there is very little I have not seen. Often, there may be several versions of the accounting records: one for the business…

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Fraud and Embezzlement is More Common Than You May Think

It seems like every day we read in the headlines, volunteer organizations have fallen victim to fraud and embezzlement. It can cause irreparable damage to the organization’s reputation, support base…

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The Business Valuation as an Incentive Management Tool

Wikipedia defines a business valuation as a process and a set of procedures used to estimate the economic value of an owner’s interest in a business. A valuation or appraisal…

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Timing the Gift of Company Stock

Consider yourself lucky if you sold a stock at or near its high point or jumped in when it was near its bottom. As difficult as that is to accomplish,…

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Assessing the Impact of ASU No. 2014-09
 Revenue from Contracts with Customers

Now is the time to start analyzing the impact of the new revenue recognition accounting standard and begin to take the next steps toward implementation for annual periods beginning after…

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Traditional CPA Auditing
vs. Forensic Auditing

Certified Public Accountants (CPA) are educated and experienced auditors who are accredited and licensed to examine financial statements and to report on whether others have followed policies. For example, are…

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New NYS Driver’s License Requirement for Individual Tax Returns

Beginning with Tax Year 2016, New York State is requiring additional identification to help prevent identity theft.  If a New York State personal income tax return is filed for 2016…

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