Cory Svihla

3 Reasons to Outsource Your Bookkeeping After Tax Season

3 reasons to outsource your bookkeeping after tax season 2

Tax season may be over, but the importance of maintaining accurate financial records and optimizing your bookkeeping practices remains constant throughout the year. As you reflect on the past tax season and look ahead to the future of your business, if you outsource your bookkeeping it can offer significant advantages. Here are three compelling reasons why you should outsource your bookkeeping after tax season: 1. Know Your Numbers So You Can Make Educated Decisions Effective decision-making relies on having a […]

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4 Common Misconceptions About Outsourced Bookkeeping

4 common misconceptions about outsource bookkeeping

Outsourced bookkeeping has become increasingly popular among businesses seeking to streamline their financial processes, yet several misconceptions still linger around this practice. In this blog post, we’ll debunk four common misconceptions about outsourced bookkeeping, shedding light on its benefits and dispelling any doubts. 1. “I can do it myself.” One of the most prevalent misconceptions about outsourced bookkeeping is the belief that handling financial tasks in-house is the most efficient and cost-effective approach. While some business owners may possess basic

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Top 4 Reasons You Need a Bookkeeper

top 4 reasons you need a bookkeeper

As a business owner, it’s easy to get caught up in the day-to-day operations of your company. However, managing your finances is just as important, if not more so, than any other aspect of your business. While you may be able to handle your finances on your own in the beginning, as your business grows, you’ll likely find that you need a bookkeeper to help manage the day-to-day tasks that eat up your time and cause you financial harm in

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Top 5 Benefits of Hiring a Forensic Accountant

Top 5 benefits to hiring a forensic accountant

As a business owner or individual, you may find yourself in a situation where you need to investigate financial discrepancies or suspected fraud, so we have compiled a list of the Top 5 Benefits of Hiring a Forensic Accountant. It can be difficult to determine the extent of the issue, especially if you lack the expertise or resources to conduct a thorough investigation. This is where a forensic accountant comes in. A forensic accountant is a professional who uses accounting

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Cryptocurrency FTX is Facing Collapse

Cryptocurrency FTX is Facing Collapse

Bankman-Fried Scandal The cryptocurrency FTX is facing collapse following a scandal involving its CEO, Sam Bankman-Fried. The crypto billionaire was scrutinized after FTX suddenly bottomed out in November of 2022. According to reports, a whistleblower contacted the U.S. Securities and Exchange Commission (SEC) to report fraud.  Background This shocked many in the cryptocurrency community, as Bankman-Fried had previously been seen as a respected and reputable figure. He was arrested on December 12th, 2022, by Bahamian authorities, as requested by the

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Top 4 Signs Your Spouse is Hiding Money

Top Four Signs Your Spouse is Hiding Money

The following list comprises of the top 4 signs your spouse is hiding money. The process of divorce is unfortunate, tragic, and many times hard to navigate. While divorce may be initiated for a multitude of reasons, the factors that require the most attention throughout the process are children and finances. Many divorces may be resolved in an orderly fashion, while others may become contested. Children bear the unfortunate and overwhelming burden of divorce; however, finances typically demand the most

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Scammers Target Ukraine Donors

Scammers Target Ukraine Donors

At the height of the Russian invasion, scammers target Ukraine donors using various email phishing tactics. This blog was originally written as an article published in the Star Tribune Business Section, on March 13th, 2022. See below. Star Tribune: “How to Guard Against Scammers Preying on Donors to Ukraine” The Russian invasion of Ukraine is a tragedy. Scammers see these types of tragedies as an opportunity to turn your compassion, generosity, sympathy and vulnerability into a money-making venture. Events that have

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Top 6 Ways Forensic Accountants Help During Divorce

Top 6 Ways Forensic Accountants Help During Divorce

Forensic accounting is the sexy version of accounting that takes facts from behind closed doors, brings them into the open, and provides a sense of truth to individuals and businesses of all types. Without a shadow of a doubt, divorce is one of the most frequent altercations requiring the need for a forensic accountant. In many divorce scenarios, the trust component is in question, at best. Whether or not a spouse has formed a business to conceal assets, started a

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Top 4 Signs That Your Employee or Business Partner is Committing Fraud

Man Committing Fraud

One of the most commonly asked questions our firm receives is “how do I know if someone is committing fraud?” Well, unfortunately you don’t know until you know. However, the sooner you identify the presence of fraud, the less detrimental to your business it will be. It is important to understand inherent risks your business model holds, and in turn, create awareness around certain parts of your business that are more vulnerable to fraud and how certain employee actions should

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World Leaders in PPE Procurement Advisory & Due Diligence

Intellex Forensics Fraud and Forensic Accounting Industries Photo of busy street in Italy during sunset

In the unprecedented COVID-19 world we now live in, it appears the laws of the “Wild West” have taken effect. Buyers of all sizes are formulating fictitious “Proof of Funds” reports, while sellers are falsifying inventory stock levels, price gouging, “padding” with excessive commissions and creating levels of misrepresentation to conceal the true ownership of the PPE. Since the inception of the 2020 COVID-19 pandemic, Intellex has performed in-depth due diligence and fraud detection on both the buy and sell

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