About Lewis Baum

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So far Lewis Baum has created 15 blog entries.

Divorce Finances

By | 2023-04-18T13:14:10+00:00 April 18th, 2023|Divorce|

When going through a divorce, people often panic about their finances. Unfortunately, some choose to ignore it or don't know where to start. Divorce can be a challenging and emotional process, and it is important to consider the financial implications of the decision. Here are some financial tips to consider if you are getting divorced: [...]

Where Criminals Hide Money and Assets

By | 2023-03-06T07:54:34+00:00 March 6th, 2023|Blog, Divorce, Fraud|

If you're watching a crime drama, you've probably seen the bad guy hiding money. He may stash his illicit profits in a secret offshore bank account or under the mattress. But in real life, hiding money can be a lot more complicated. Where do people hide money and other assets? Here are some common ways [...]

Tips for Going Paperless

By | 2023-01-31T15:53:12+00:00 January 31st, 2023|Technology|

Going paperless can be a daunting task, but it is a rewarding one that can help to reduce clutter, save space, and be more environmentally friendly. Here are ten tips for creating a paperless home: Use electronic document management software: Electronic document management software allows you to store, organize, and access electronic documents in a [...]

Now is a Great Time to Create a Budget

By | 2023-01-04T11:36:52+00:00 January 4th, 2023|Finance|

With the start of a new year and the financial stress added by recent holidays and inflation, now is a great time to create a budget. Budgeting is the process of creating a plan for managing your financial resources. It involves estimating your income and expenses and determining how to allocate your money to align [...]

Finding Financial Statement Fraud

By | 2022-05-20T10:21:57+00:00 May 20th, 2022|Fraud|

Financial statement fraud is generally defined as the falsification, alteration, or manipulation of material financial records, supporting documents, or business transactions.  It is often perpetrated by the intentional omissions or misrepresentations of events, transactions, accounts, or other significant information from which financial statements are prepared. According to the Association of Certified Fraud Examiners 2020 Report to [...]

COVID-19 Challenges and Business Value

By | 2022-01-06T12:58:22+00:00 January 5th, 2022|Business, Business Appraisal|

Business Challenges Caused by COVID-19 The overall impact caused by COVID-19 is extraordinary.  Many companies have weathered shutdowns and falling customer demand.  Now, many are facing challenges with increases in direct costs (such as labor and materials), indirect costs, and added debt service.  The companies that had strong balance sheets before the pandemic seem to [...]

Stopping the Spread of Fake News

By | 2020-09-10T16:27:03+00:00 September 10th, 2020|Technology|

Today, “fake news” is everywhere. As a valuation and damage expert, I often use news and collect data from websites when conducting research on industries, and monitoring economic trends. Like you, I am also a consumer of information - whether on TV, websites, or social media. Since fake news seems to be on the minds [...]

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 [...]