|By PR Newswire||
|August 20, 2014 03:00 AM EDT||
WOODBURY, N.Y., Aug. 20, 2014 /PRNewswire-iReach/ -- Gettry Marcus CPA, P.C., a leading consulting, tax and forensic accounting firm, shares the results of an estate litigation case study that was conducted by the firm.
On behalf of the beneficiaries of an estate, Gettry Marcus was engaged to perform investigative procedures related to the sale of real estate owned by 13 different family partnerships, managed by a single family member who unilaterally decided to sell the properties valued at approximately $90 million.
Gettry Marcus examined the management and partnership agreements to verify the accuracy of the management fees and distributions of the sales proceeds to each of the family partners. It was also necessary to perform a detailed review of the accounting records to assure that there were no improper disbursements.
The firm's investigation disclosed that the single family member had overpaid himself $500,000 of management fees prior to the sale of the properties and that he initially received sales proceeds of $1 million in excess of his rightful ownership percentage.
To view additional case studies, visit the Gettry Marcus website.
Gettry Marcus CPA, P.C. is a top New York City and Long Island CPA firm with offices in Woodbury, Long Island and New York City. We provide accounting, tax, and consulting services to commercial businesses, high net worth individuals and various industries, which include real estate and health care. We have one of the premier and most credentialed business valuation, litigation and forensic accounting groups in the New York Area. Our experience in diverse industries and a highly talented and experienced professional staff gives us the ability to share valuable insights into our clients' businesses, to better understand their goals and problems and to help them attain the vision they have for their company.
Gettry Marcus is "Always Looking Deeper" to build value for our clients.
Media Contact: Fayellen Dietchweiler, Gettry Marcus CPA, P.C., 516-364-3390 x 225, [email protected]
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SOURCE Gettry Marcus CPA, P.C.