Monthly Archives: February 2014

Most Accounting Expert Witnesses are CPAs

A recent listing of accounting expert witnesses mentioned in court opinions or decisions in 2013 reveals that 88% were CPAs. The listing, which is “not exhaustive and only for informational purposes,” includes 189 forensic accounting expert witnesses with multiple credentials. As for the prevalence of other credentials, 31% were certified in Financial Forensics, 29% had [...]

By |2018-02-07T14:17:22-08:00February 26th, 2014|General Tax And Accounting Information|0 Comments

Valuation Land Mine: Avoid it Like The Plague

Proceed with caution when valuing a business arrangement or transaction between a healthcare entity and physicians. If the valuation includes a consideration of anticipated referrals, the hospital or healthcare system making payments under the arrangement could face huge penalties for making illegal kickbacks to physicians. A recent jury award illustrates this trouble spot. Devastating penalty: [...]

By |2014-02-20T19:22:12-08:00February 20th, 2014|business valuation, healthcare valuation, valuation|0 Comments

IRS Issues Final ‘Expense vs. Capitalization’ Regs

The Internal Revenue Service has issued final regulations (T.D.9636) on deduction and capitalization of expenditures related to tangible property. The final regulations include rules for determining whether costs related to tangible property are deductible repairs or capital improvements.  Changes made: The final regulations adopt the temporary regulations issued in 2011 (T.D. 9564), with a number [...]

By |2014-02-20T19:13:35-08:00February 20th, 2014|expense vs. capitaltization, t.d. 9636, tax|0 Comments

The Geithner Defense

Former US Secretary of the Treasury Timothy Geithner took a lot of heat during his confirmation hearings when it was revealed that he had not paid all of his income taxes in a timely manner. He was found to be short by almost $35,000, and blamed it on the Turbo Tax software that he used [...]

By |2018-07-11T09:04:14-07:00February 1st, 2014|Pauls's Tax Blog|0 Comments