About Lewis Baum

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So far Lewis Baum has created 8 blog entries.

Finding Hidden Assets from your Spouse – Where to Look?

By | 2018-11-19T20:15:16+00:00 November 19th, 2018|Divorce|

Hidden Assets - Becoming Creative Hiding assets from a spouse is never a good idea. Such actions will likely have costly results, such as sanctions by the court or added alimony. Depending on the issue(s) and the state where you live, the perpetrator could be arrested or reported to the IRS or other authorities. Despite [...]

New tax fraud targeting professionals – What you need to know

By | 2018-03-08T18:40:02+00:00 February 15th, 2018|Fraud|

Every year, tax season creates opportunities for criminals looking to steal your money. The IRS just issued an Alert regarding a new tax fraud. Criminals are targeting CPA firms and tax professionals to obtain client information. The criminals use this information to prepare fraudulent tax returns (with your correct social security number, address, dependents, bank [...]

What is my business worth?

By | 2018-03-11T20:32:55+00:00 November 27th, 2017|Business Appraisal|

A business is usually the most valuable asset; yet owners typically have no idea what their business is worth.  Unlike real estate or brokerage investments, owners are handicapped by not having readily available information to indicate business worth. For example, with real estate, nearby transactions occur daily.  You can usually find that 4 bedroom, 2 [...]

Get a handle on your credit before next security breach

By | 2017-11-12T08:21:47+00:00 September 15th, 2017|Cyber Security|

The security breach announced by Equifax last week serves as a stark reminder that we need to do what we can to protect ourselves from identity theft. It has been reported that the potential impact could exceed 143 million customers. Currently, there are five credit bureaus. The three main credit monitoring agencies, which are well-known, [...]

Are the financial statements wrong?

By | 2017-11-21T14:27:20+00:00 July 24th, 2017|Fraud, Management|

When analyzing financial statements, you may need to assess whether they are wrong.  You may need to assess whether they indicate undisclosed problems, as well. Some comfort may be gained by the situation, and perhaps some corroborative information, such as: Does the company use an outside CPA, and if so, what services does the CPA provide? [...]

Cash is King – managing the cash conversion cycle

By | 2017-11-12T08:20:05+00:00 April 25th, 2017|Business Management|

It is important to understand that profit reported on a company's income statement does not equate to cash flow. Understanding a company’s cash –cycle can be vital to truly understanding and assessing how the company is doing overall. The cash cycle is an important component to understand when assessing a company’s operations and for understanding [...]

Is it safe? Technology and safety: What you should know.

By | 2018-02-15T10:14:32+00:00 January 19th, 2017|Cyber Security|

While speaking at a recent accounting conference on forensic accounting, a participant asked about “best practice” suggestions pertaining to technology safety.  Clearly this is a very broad and ever-changing topic.  This article is an attempt to capture some suggestions and to raise awareness, as most of us need to maintain at least a minimum level [...]