Recommended Reading: Qualified Business Income Deduction

Are you familiar with the new Qualified Business Income deduction for partnerships, LLCs, S corps, trusts, estates and sole proprietorships? ​See article below from Journal of Accountancy for details and contact H2R CPA at 412-391-2920 or with any questions you may have. Mechanics of the new Sec. 199A deduction for qualified business income

How to detect earnings “spin”

by H2R CPA Team A company’s management team is often interested in painting the rosiest possible picture of a company’s financial performance. But aggressive earnings management, or “spin,” can mislead investors and lenders. Here are some ways U.S. Generally Accepted Accounting Principles (GAAP) can be manipulated to obscure the truth.​Creative accounting vs. cooking the booksEarnings … Read more

Fraud: A Universal Problem

by Joseph M. Delisi, CPA With audit season upon us, it is important to remember that auditors are required to address “risk of fraud” during the audit process for both businesses and nonprofit organizations. The most common type of fraud is asset misappropriation, occurring in 85% of cases, according to a Global Fraud Study by … Read more