Why You Must Exercise Caution When Searching For Fraud

Employers that suspect occupational fraud generally have the right to search employee desks and computers, but they should approach such searches with care. Even if you think you know an employee is stealing, you risk invading that person’s privacy when searching for fraud. Can vs. should Laws vary from state to state, so consult your […]

The Consequences of Synthetic Identity Theft Are, Unfortunately, Real

Identity thieves don’t rely on just real identities to commit fraud. With “synthetic” identity theft, they use only a portion of your personal data to help them create fictitious identities. But that doesn’t necessarily lessen the negative impact on your credit. Forensic experts estimate that synthetic identity theft is actually more prevalent than so-called “true-name” […]

Watch Out For Tax-Related Identity Theft Scams All Year Long

With the filing date for 2017 in the rearview mirror for most businesses and individuals, the last thing they probably want to think about is income taxes. Unfortunately, though, criminals who commit tax-related identity theft scams don’t work seasonally — they’re constantly devising and unleashing new schemes. And even though the IRS has taken successful […]

Should You File IRS Form SS-8 to Determine A Worker’s Status?

Classifying workers as independent contractors — rather than employees — can save businesses money and provide other benefits. But the IRS is on the lookout for businesses that do this improperly to avoid taxes and employee benefit obligations. To find out how the IRS will classify a particular worker, businesses can file optional IRS Form […]

Tax Cuts and Jobs Act Changes to Employee Benefits Tax Breaks: 4 Negatives and A Positive

The Tax Cuts and Jobs Act (TCJA) includes many changes that affect employee benefits tax breaks. Among the changes are four negatives and one positive that will impact not only employees but also the businesses providing the benefits. 4 breaks curtailed Beginning with the 2018 tax year, the TCJA reduces or eliminates employee benefits tax […]

Don’t Let Fraud Tear Your Family Business Apart

One of the things that make family businesses such appealing places to work is trust. Trust is also one of the things that make family businesses vulnerable to fraud. It only takes one lone wolf to damage or destroy an enterprise you and your family have spent years building. Accept the possibility One of the […]

Can You Trust Your Business’s Bookkeeper?

The bookkeeper is one of any company’s most trusted employees. Unfortunately, that trust isn’t always deserved. Bookkeeper fraud is one of the most overlooked types of fraud in businesses. Bookkeepers — particularly those in small and midsize businesses — are ideally positioned to embezzle from their employers. Less means more When bookkeepers go bad, there […]

IRS Sheds Light on New Limit on Business Interest Expense Deductions

The Tax Cuts and Jobs Act (TCJA) imposes a limit on deductions for business interest for taxable years beginning in 2018. The limit, like other aspects of the law, has raised some questions for taxpayers. In response, the IRS has issued temporary guidance in Notice 2018-28 that taxpayers can rely on until it releases regulations. […]

How Dishonest Employees Use Shell Companies to Commit Fraud

For many entrepreneurs, getting a “doing business as” (DBA) certificate enables them to open a small business. However, DBAs can also be used to open shell companies. These businesses, which have no assets of their own, may be legitimate — for example, when they’re used to hold another company’s assets. But they also can be […]

A Net Operating Loss On Your 2017 Tax Return Isn’t All Bad News

When a company’s deductible expenses exceed its income, generally a net operating loss (NOL) occurs. If when filing your 2017 income tax return you found that your business had an NOL, there is an upside: tax benefits. But beware — the Tax Cuts and Jobs Act (TCJA) makes some significant changes to the tax treatment […]

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