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Welcome to the Bedard, Kurowicki & Co., CPA's Litigation Support & Business Valuation news update. We'd like to wish you a Happy New Year, and hope that these articles are helpful to you, your clients and your firm. We encourage you to forward this message to friends and associates, and please don't hesitate to contact us with any questions or to discuss BKC's related services.
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Tax Implications: Alimony vs. Child Support
If you are facing a divorce or legal separation, remember that in addition to the difficult personal issues involved with the process, you need to understand the tax issues. Planning is very important when deciding whether payments qualify as alimony or child support for tax purposes. Both are payments made to a spouse or former spouse, but each have very different tax consequences which are governed by §71 of the Internal Revenue Code. All divorce agreements written since January 1, 1985 are governed by these rules: Click here to read the full article
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Impact of Fraud on Business Valuations
 Occupational fraud occurs when someone uses his or her job for personal enrichment through the deliberate misuse or misapplication of an employer's resources or assets. Such activity can skew financial results and lead to erroneous value conclusions - unless a valuator adjusts the financial statements for fraud. Click here to read the full article
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