Malicious hackers target all types of businesses, but manufacturers that rely on automation, robotics, and connected networks are especially vulnerable to cyberattacks. Here is what you can do to protect your manufacturing business. Know your risks It is only natural that manufacturers fear data breaches, and unfortunately...
Payroll costs are a natural and unavoidable consequence of being an employer, but this does not mean you cannot keep an eye out for ways to lower these costs or simply handle payroll more efficiently. One approach that many organizations use is issuing employees a payroll...
For more than 40 years, the Securities and Exchange Commission (SEC) has required only a simple pass-fail statement in public companies’ audit reports, but the deadline for mandatory reporting of critical audit matters (CAMs) in audit reports is fast approaching. The revised model will provide...
The Tax Cuts and Jobs Act of 2017 dramatically reduced taxpayers’ ability to itemize deductions. Among the tax deduction opportunities that have vanished, from 2018–2025, are miscellaneous itemized deductions that exceed two percent of the taxpayer’s gross income. Such deductions included unreimbursed employee business expenses. Drilling...
Late summer and early fall, when so many families have members returning to educational facilities of all shapes and sizes, is also a good time for businesses to creatively step up their business development efforts, whether it is launching new marketing initiatives, developing future employees...
Licensing your non-profit’s name to a for-profit company can provide a valuable new revenue source — but it also can be risky. If you are considering a licensing arrangement, ensure that the partnership really will generate funds and, possibly more important, a positive impression of...
If you gamble, be sure you understand the tax consequences. Both wins and losses can affect your income tax bill. And changes under the Tax Cuts and Jobs Act (TCJA) also could have an impact. Wins & taxable income You must report 100 percent of your gambling...
One of the most common ways that crooked employees defraud their employers is by cheating on or padding expense reimbursement reports. Fortunately, you can stop this type of fraud with strict controls and by punishing the perpetrators. Plenty of ways to cheat Employees often cheat on their...
The Servicemen’s Readjustment Act of 1944 (G.I. Bill) paid almost $4 billion to nearly nine million veterans from 1944–1949 in unemployment compensation. The education and training provisions existed until 1956, and the Veterans’ Administration offered insured loans until 1962. The Readjustment Benefits Act of 1966...
Trade secrets are among the most critical yet often overlooked assets of any organization. And they are not always as sophisticated as proprietary software or as famously secret as Coca-Cola’s formula. A trade secret can be as seemingly innocuous as a customer list, business strategy,...