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Reinstated R&D Credits
Energy boom fules population growth in Texas, Great Plains
Fraud at the workplace
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In the Summer edition of the Wall, Einhorn & Chernitzer, P.C. (WEC)  Inventory Counts Manufacturing industry newsletter, you'll find information on a tax saving opportunity, fraud at the workplace and much more!
Reinstated R&D Credits
Don't miss this tax saving opportunity
The tax credit for increasing research activities, commonly known as the R&D credit, is back in effect as of January 2013. The research credit begun in 1981 has expired and been reinstated 15 times. It currently is available through the end of the year.

If history is any indication, the credit will be extended into 2014. But to be safe, now is the time for manufacturers to review their eligibility for the tax credit.
The tax law provides two specific tax incentives to taxpayers who undertake research activities - current expensing of research-related costs and a tax credit for research activity.
Contact WEC today to speak with one of our Manufacturing & Wholesale Distribution experts and learn more about  the reinstated R&D credits.
Energy boom fuels population growth in Texas, Great Plains
The oil and gas boom in Texas and the Great Plains is bringing the fastest population growth in the country to those areas, according to new numbers released by the U.S. Census.
Midland, Texas, grew at a rate of 4.6 percent between July 2011 and July 2012, the fastest growth of any metropolitan city in the nation. Odessa and Austin-Round Rock were also among the 10  fastest-growing cities, Dallas-Fort Worth and Houston had the highest numeric increases of anywhere in the nation, with more than 125,000 new residents moving to those cities.
Among the fastest-growing micro communities - those with between 10,000 and 50,000 population -Williston, N.D., led the nation, growing 9.3 percent in one year. Another North Dakota city, Dickinson, was third after Junction City, Kansas, growing by 6.5 percent.
 To learn more about population boom in Texas and the Great Plains, click here.
Fraud at the workplace - The likely suspects
Who commits occupational fraud? There are patterns and telltale signs. That's according to the Association of Certified Fraud Examiners which analyzed 1,388 cases of reported fraud worldwide for its latest biannual Report to the Nations.
Most employees who commit fraud have clean employment histories - 87 percent had never been charged or convicted of a fraud-related offense.
But in 81 percent of cases, the dishonest employee displayed one, sometimes multiple, red flags:
  • Living beyond means
  • Experiencing financial difficulties
  • Being unusually close to vendors or customers
  • Exhibiting excessive control issues
  • Having divorce/family problems
  • Displaying a wheeler-dealer attitude
  • Displaying a irritable, suspicious, defensive attitude
  • Having addiction problems
  • Refusing to take vacations
  • Feeling pressured by management
  • Complaining about salary
  • Complaining about lack of authority


To find out more about fraud and the likely suspects, click here.
A & A Service Leaders
MWD Leaders
                          Joanna G. Brumsey, CPA                        Richard E. Groover, CPA
                                   Shareholder                                                  Manager
Click on above niche leader's name to view profile or contact.
About Wall, Einhorn & Chernitzer, P.C.

Wall, Einhorn & Chernitzer, P.C. (WEC) offers a local touch with regional scope and national resources. Serving clients since 1989, we are today the largest public accounting firm headquartered in Norfolk, Virginia and the second largest in the Hampton Roads region.  Our team is comprised of professionals who are committed to a common vision as a high performance firm and a common goal to provide our clients with exceptional service.


WEC is an independently owned and operated member firm of CPAmerica International, one of the largest associations of CPA firms in the United States. Through our affiliation, we have instant access to the expertise and resources of more than 2,500 professionals across America. WEC clients benefit from the resources, experience and professional knowledge base of a national firm while still receiving the personalized service and attention that only a locally-owned, independent accounting firm can offer.


In addition to our Assurance and Tax services, WEC provides a range of Business Advisory services and solutions strategically customized to fit our clients' unique and individual needs. These services include Estate Planning, Entrepreneurial Services, Restructuring and Turnaround, Wealth Management, Business Valuation, Litigation and Dispute Consulting, Virtual Office Services, and Exit Planning.


The expertise of our CPAs and Advisors spans a range of business sectors. Our specialized industry niches include: Real Estate, Retail, Franchise, Construction, Government Contracting, Manufacturing & Wholesale Distribution, Technology and Not-for-Profit.


We are honored that WEC has been named as one of the "Best Places to Work in Virginia" in 2012 and 2013 by Virginia Business magazine, one of the "Top 25 Best Places to Work in Hampton Roads" by Inside Business, named to their "Hall of Fame" in 2010, and listed among the "Best Firms to Work For" by Accounting Today.


For more information, please visit us at