If you are charitably inclined and you collect art, appreciated artwork can make one of the best charitable gifts from a tax perspective. In general, donating appreciated property is doubly beneficial because you can both enjoy a valuable tax deduction and avoid the capital gains...
If your company is tired of being a fraud target, it is time to train employees how to recognize and uncover unscrupulous activities — before irreparable damage is done. Here is how. Enlist an expert A forensic accountant can conduct on-site, broad-based training for employees in the...
In recent years, environmental, social, and governance (ESG) issues have become a hot topic. Many companies voluntarily include so-called ‘sustainability disclosures’ about these issues in their financial statements, but should the Securities and Exchange Commission (SEC) make these disclosures mandatory and more consistent? Identifying ESG issues The...
If you are an employer that sponsors a health care plan, you may worry about inadvertently violating the Health Insurance Portability and Accountability Act — commonly known as HIPAA. But you also should keep in mind that there is a formal requirement for ensuring electronic...
Most business owners want to grow their companies, and one sure sign of growth is when ownership believes the company can expand its operations to a second location. If your business has reached this point, or is nearing it, both congratulations and caution are in order....
How much are your volunteers worth? The non-profit advocacy group Independent Sector estimates the value of the average American volunteer at $24.69 an hour. Volunteers who perform specialized services may be even more valuable. Whether your entire workforce is unpaid or you rely on a few...
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2018. Keep in mind this list is not all-inclusive, so there may be additional deadlines that apply to you. Contact us to make sure you are meeting...
The typical business or other organization loses five percent of its revenues to fraud each year, with a median loss of $130,000. And about one-fifth of fraud cases involve losses of $1 million or more. That is according to the Association of Certified Fraud Examiners’...
Inventory is expensive. So, it needs to be as lean as possible. Here are some smart ways to cut back inventory without compromising revenue and customer service. Objective inventory counts Effective inventory management starts with a physical inventory count. Accuracy is essential to knowing your cost of...
When a supervisory position opens up, your immediate reaction as an employer may be to post a job opening to the general public. However, do not underestimate the value, efficiency, and cost savings of an internal hire from your non-manager ranks. Although promoting from within is...