Knowledge and Insights: Newsletters

Properly Allocate Your Combined Business & Vacation Travel Expenses

If you go on a business trip within the U.S. and add on some vacation days, you know you can deduct some of your expenses. The question is how much. First, let’s cover just the pure transportation expenses. Transportation costs to and from the scene of your business activity are 100% deductible as long as…

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How Buy-Sell Agreements Can Ensure Continuity

If you own a closely held business with at least one other partner, certain steps can be taken to guard against business disruption if you or the partner unexpectedly dies or becomes disabled. One of the most important steps is to create a buy-sell agreement. A buy-sell agreement is a critical component of business continuation…

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The Latest Cyber Security Risks and Developments Affect Public Entities

Technological security is not only increasingly important today, but also undergoing a directional shift due to the prevalence and ingenuity of cyber-hackings. The true statistics about these are more alarming than may be realized from the handful of high-profile corporate and IRS incidents recently in the news.  The risks associated with IT security alone apply to and reverberate throughout an…

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Nonprofits Should Assess Cyber Security Risks and Preparedness

Technological security is the first hot topic in our new series, introduced last issue, on the major trends affecting the nonprofit sector. Not only is the topic increasingly important to nearly everyone today, but it is also undergoing a directional shift due to the prevalence and ingenuity of cyber-hackings. The true statistics about these hackings are more alarming…

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Migration to EMV Chip Card Technology and Your Nonprofit

If your nonprofit organization receives reimbursement for services through credit card payments, you need to understand how these changes will impact you. U.S. credit card companies are making the transition from magnetic stripe technology to cards with chips. Chip cards are payment cards that have an embedded chip, offering increased security when your customers or…

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Assessing Your Cyber Security Risks and Preparedness

Technological security is not only increasingly important today, but also undergoing a directional shift due to the prevalence and ingenuity of cyber-hackings. The true statistics about these are more alarming than may be realized from the handful of high-profile corporate incidents in the news. The risks associated with IT security alone apply to and reverberate…

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Empty Nest? It’s Time for a Financial Update!

It is inevitable that your kids will grow up and someday move out of your house.  Life will no longer revolve around their schedules.  This can be a difficult emotional transition as you move into the next phase in life as an empty nester.  After you deal with the emotional aspect of the lifestyle change,…

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Develop A Strong Business Succession Plan

Most business owners want to see their business continue to prosper, even after they have passed the mantle of leadership on to their successors. Unfortunately, many owners do not realize – or underestimate – the depth of planning that must take place to guarantee that a leadership transition does not cripple their business. Developing a…

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Focus On Costs Of Identity Theft-Related Tax Refund Fraud

National Taxpayer Advocate Nina E. Olson recently released her statutorily mandated mid-year report to Congress that identifies the priority issues the Taxpayer Advocate Service (TAS) will address during the upcoming fiscal year, including tax-related identity theft. The report notes that in recent years, taxpayers and the IRS have been victimized by identity thieves who use stolen identity…

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Dealing With Employee Dishonesty Allegations

In years past, employee dishonesty was recognized in straightforward terms, mainly involving the intentional misappropriation of cash or merchandise from a company by an employee. However, trends today demonstrate a dynamic shift towards sophisticated fraudulent schemes spanning several years, often involving financial professionals and the use of computers. Due to less stringent or non-existent regulatory…

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