Bankruptcy Services From a Forensic Accountant

In this short video, Tracy talks about some of the services a forensic accountant could provide in a bankruptcy case. These services could include: Tracing of funds through bank accounts Looking for hidden income and assets Evaluating expenditures to determine whether they were proper (as it relates to the bankruptcy) …

Determining Income With the IRS Expenditures Method

When the IRS believes a taxpayer has unreported income, they will use alternative methods to attempt to determine the true income. One of those methods is the Expenditures Method. Tracy Coenen explains the basic methodology in this video. Note that this method of calculating income can be used in a …

MLM Top Earners Make Money Off the Backs of Others

Do you think it’s only the “bad” people who do bad things in multi-level marketing? Those who frontload new recruits, dial for dollars at the end of the month (i.e. get people to order products they don’t need), talk only about their highest commission check, lie about how profitable the …

Avoiding Business Opportunity Frauds and MLM Scams

In a past appearance on CNBC’s On the Money, Tracy Coenen talked about how consumers could protect themselves from business opportunity scams and multi-level marketing (MLM) schemes. MLMs parade themselves around as business opportunities, but they are nothing more than elaborate pyramid schemes that swindle millions of consumers each year.

Fraud Clues in the Notes to Financial Statements

The notes to financial statements are often lengthy and boring. But they can provide very important information about a company.  On the most basic level, they provide details behind the company’s numbers. But they can also provide clues to fraud or other irregularities that may be occurring. Tracy gives a …