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News

Board-level Tone Affects Fraud in Non-profits

How is it that a non-profit organization can fall victim to a fraudster?  Many times it happens when the tone established at the top of the organization focuses a higher percentage of attention on their mission, and little to no attention on fiscal responsibility.  The feeling many times is, well, we’re not supposed to be …

2012 Tax Organizer Letter for NJ

We hope that you and your families have had an enjoyable holiday season, and that everyone is safe following Superstorm Sandy. As the effort to rebuild continues, we are continuing to follow any new developments for available relief, whether it is tax, property, or business related. If we can be of help to your situation, …

2012 Tax Organizer Letter for PA

We hope that you and your families have had an enjoyable holiday season! As of today, Congress has finally come to an agreement regarding the so-called “Fiscal Cliff” that avoids many of the steep tax increases that have been widely discussed. However, there are still tax increases that will affect all of us. Some key …

Holman & Frenia P.C. Tax Audit Reveals Over-Charging to Wysox Township

A recent Holman & Frenia audit of Wysox Township municipal reveals double-charging for hours records on a township job. The Daily Review covers the full story in this article: http://thedailyreview.com/news/audit-accuses-foster-of-over-charging-wysox-township-1.1430218

Six Reasons Why Your Organization Needs an Anti-Fraud Hotline

Jerry W. Conaty, CPA, CFE, PSA, Audit Manager, Holman & Frenia, P.C. I speak with many executives that, when asked about whether or not they have an anti-fraud hotline in place, respond with “We don’t need an anti-fraud hotline; I know what goes on in my company.”  While these executives may have a good idea …

Business Succession and Estate Planning, Now is the Time

Pasquale L. Givelekian, Attorney at Law, Tax & Commercial Manager, Holman & Frenia, P.C. Part One in a Series Depressed real estate values, low interest rates, and favorable tax laws make this the ideal time to engage in long-term business succession and estate planning. While the economy is not likely to show significant recovery during …

From Ordinary to EGGstraordinary!

Nancy E. Sommer, COO/Chief HR Officer, Holman & Frenia, P.C. It may be hard for an egg to turn into a bird: it would be a jolly sight harder for it to learn to fly while remaining an egg. We are like eggs at present. And you cannot go on indefinitely being just an ordinary, …

Think Taxes While Negotiating Your New Gas Lease

Frank B. Holman III, CPA, President, Holman & Frenia, P.C. The recent “softness” in the natural gas markets has lead to the expiration of some gas leases due to lack of production. The surrender of these leases presents land owners with an opportunity to gain a new lease with better terms and often up-front money. …

No payments made by Barnegat to insurance broker in the Ritacco scandal

BARNEGAT — The township school district did not make any payments to Federal Hill Risk Management Company, the insurance broker at the center of the bribery case against former Toms River Regional School District Superintendent Michael J. Ritacco, according an audit report. The forensic audit, performed by Holman & Frenia, found Federal Hill was an insurance …

Report questions Point Pleasants accounting practices

POINT PLEASANT — The annual review of the borough’s finances has uncovered numerous accounting irregularities in 2010, including $3,691,375 deposited into the wrong bank accounts. Examiners also cited a lack of details regarding the borough’s $21.5 million in general capital bonds and $4.98 million in utility capital bonds, while noting that 35 different line-item adjustments …

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