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Money

Captive audience Self-insurance strategy can be beneficial to well-managed companies

When an automobile dealer wanted to reduce its property and casualty insurance premiums, consultant Sheila Small advised the business about the ins and outs of setting up a captive insurance company, a kind of self-insurance strategy. The dealer wasn’t based in New Jersey, which isn’t very surprising since the state — which has been open to captives since early 2011 — was home to only about 23 captive insurers, according to an industry study released in March, a fraction of the number in states like Vermont, Utah and Delaware, which host 556, 414, and 381, respectively. That could change, however, under Gov. Phil Murphy’s administration.

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Follow the cybermoney

A minor difference in an accounting procedure, driven by bitcoin, may signal a major change for CPAs. Traditionally, when a CPA firm issues an “audit opinion” — or statement of accuracy at the close of an audit — the document contains an “as of” date, noting the period that was examined. But a recent opinion ...

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Balancing life with the books: CPA firms work hard to develop cutting-edge employees

CPA firms have established themselves as trusted advisers, helping clients to run more efficiently by counseling them on matters ranging from taxes to retirement planning. But how do these accounting and management gatekeepers run their own operations, ensuring their staff is motivated, on-track and up-to-date on the latest educational and other information?

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As tax law closes charitable deduction, NJ looks to corporate citizens for help

During Investors Bank’s Art of Thriving: Not-for-Profit Conference on Wednesday in Edison, many regional and local businesses highlighted corporate giving they have taken part in throughout their communities. Sally Glick, chief growth strategist at accounting firm Sobel and Co., said many companies will begin having a “corporate social responsibility” to help their communities. “You have ...

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