Withum Expands with Management Consulting Services WithumSmith+Brown, PC (“Withum”), Certified Public Accountants and Consultants, has announced the recent addition of three new members to its newly expanded Management Consulting Services. Joseph Riccie, CPA; Meghan Watson; and Walter Merkas focus on helping clients align overall business strategy and objectives to propel their organizations to a position…
When Should You Build a Back Office? “No time left for you” – lyrics from the song No Time by The Guess Who I tend to blog about recurring points made in meetings and conversations following the belief that if I hear the same topic from a few people in my little world, maybe there…
Bitcoin: Tracking Transactions and Identifying Fraud You’ve likely heard the buzz words “virtual currency”, “digital currency” or Bitcoin more frequently as of late. This article explores forensic accounting challenges related to this new form of virtual exchange. Digital currency or digital money is an Internet-based medium of exchange distinct from physical currency, such as banknotes…
Withum’s New Automotive Services Practice Effective January 1, 2016, the Edison, NJ-based public accounting firm, The Mironov Group, combined its practice with WithumSmith+Brown, PC (Withum). For over 50 years, The Mironov Group, LLC, CPAs, has been helping dealerships large and small increase profits, minimize taxes and operate more efficiently through custom-tailored services that are unique…
The reality is that private companies must meet a higher standard than public companies in the valuation of share-based payments as compensation for both financial reporting (ASC Topic 718) and tax purposes (IRC Section 409A). Beyond the issue of valuing private company’s stock, we generally see two big challenge areas: Volatility estimation and model selection….
Cybersecurity Attacks: Prepare or Pay 17,000 in Bitcoin? It is not the first time and unfortunately, it will not be the last that a hospital was the focus of a cyber attack. The story of a Southern California hospital broke last month after they fell victim to a hacker using malware to infect the institution’s…
In conjunction with the development of an annual budget employers typically perform a risk assessment for their organization. With spending on health care services estimated to reach 20% of the gross domestic product by 2021, health care cost is a high risk and priority continuously addressed by every employer. Many employers are utilizing the self-insurance…
Weird Worldwide Taxes This week’s blog post is written by Withum’s International Services Group member, Nicole DeRosa. Who says taxes are logical? Even Albert Einstein agrees that “the hardest thing in the world to understand is the income tax.” While maybe not the easiest to understand, most taxes and tax exemptions are usually logical… except…
When performing a business valuation, a factor we consider is the value to attribute to the owners responsible for the operations of the subject company. This is an important piece of the valuation process as there is an inverse relationship between reasonable compensation and value derived for the enterprise. The greater the reasonable compensation –…
The Perfect Pitch – How to Avoid Those Painful Pitfalls (Part II) “You can’t make a silk purse out of a sow’s ear.” – Old proverb from the mid-1500s. In Part I of this blog, we covered some general pitch deck guidelines as well as some helpful presentation hints. As noted there, I cannot emphasize…