Everyone needs to plan for retirement. But as a business owner, you face a distinctive challenge in that you must save for your golden years while also creating, updating, and eventually executing a succession plan. This is no easy task, but you can put the...
These are confusing times as we enter new territory regarding businesses in the marijuana and CBD industry. Many are left with questions, so the Food and Drug Administration (FDA) has issued frequently asked questions with responses related to marijuana and CBD, as they are attempting...
If you are self-employed and do not have withholding from paychecks, you probably have to make estimated tax payments. These payments must be sent to the IRS on a quarterly basis. The third 2019 estimated tax payment deadline for individuals is Monday, September 16. Even...
Fraud experts have long suggested that the presence of three conditions, known as the “fraud triangle,” greatly increases the likelihood that an employee will commit fraud. Over the years, this conceptual framework has been expanded to become a “fraud diamond.” Understanding these models can help...
What is the purpose of a corporation? For the last 50 years, the answer was “to maximize shareholder value.” But, on August 19, CEOs of 181 leading U.S. businesses, including Amazon, Apple, General Motors, and Walmart, pledged to broaden the scope. Beyond shareholder value Putting shareholders first...
Many employers wish to offer group term life insurance as a fringe benefit but find the premiums unaffordable. Under such circumstances, you could provide the coverage and have employees pay the premiums pretax through an existing cafeteria plan. Just be sure you understand the tax...
Many companies now offer Health Reimbursement Arrangements (HRAs) in conjunction with high-deductible health plans (HDHPs). HRAs offer some advantages over the perhaps better-known HDHP companion account, the Health Savings Account (HSA). If you are considering adding an HRA, you might assume that, as a business...
Most non-profit board members are unpaid volunteers. They have agreed to serve because they care about your mission and the impact your organization is making. You owe it to them to make the job as easy as possible — starting with well-organized board meetings that...
As teachers head back for a new school year, they often pay for various expenses for which they do not receive reimbursement. Fortunately, they may be able to deduct them on their tax returns. However, there are limits on this special deduction, and some expenses...
Even if you have not heard much about it lately, know this: health care fraud is alive and well in the United States. Here is a roundup of recent stats, law enforcement initiatives, common fraud schemes, and how you can help prevent these crimes. Just the...