/Tag: Business Advice

5 Tips for Reducing Fraud in Your Business

By |2020-06-05T19:00:21+00:00July 27th, 2016|Categories: Fraud Prevention|Tags: , , |

There are as many ways to defraud a business as there are individuals to dream up scams. Your accounting function — payroll and accounts payable and receivable — is particularly vulnerable. To protect your business from financial losses and possible public embarrassment, implement and enforce these five basic controls: 1. Screen employees. Require all prospective [...]

Porter Ranch Gas Leak and Your Taxes

By |2017-05-24T13:42:06+00:00July 20th, 2016|Categories: News|Tags: , , , , , , , |

The IRS has released Announcement 2016-25 related to the Porter Ranch gas leak at the Aliso Canyon natural gas storage facility.  The announcement declares that the IRS will not assess tax on reimbursements paid to, or on behalf of, the residents of affected area. The leak affected an entire community, causing widespread health issues and [...]

Tax Considerations for Small Construction Companies

By |2017-05-24T13:42:07+00:00June 29th, 2016|Categories: Tax Planning|Tags: , , |

Small construction firm owners and contractors can find it especially difficult to comply with the strict letter of the law when it comes to filing their income tax returns. The IRS recognizes the potential problems and wants to lend a helping hand. The tax agency periodically updates several publications geared to contractors, most notably Publication [...]

Review your Statements Each Month to Check for Identity Theft Charges

By |2017-05-24T13:42:07+00:00June 22nd, 2016|Categories: Fraud Prevention|Tags: , , , , |

Do you review your statements each month? With the prevalence of automated bill payment, many busy consumers don't bother to review their monthly bank or credit card statements anymore. Or they may review only those charges above a certain amount. But a recent indictment by the Federal Trade Commission highlights how important it is to [...]

Effective Marketing On a Budget

By |2017-05-24T13:42:07+00:00May 18th, 2016|Categories: Business Advice|Tags: , , , , , |

Does your professional services firm have a minimal marketing budget or lack in-house marketing staff? Are some of your competitors outspending you 2, 5 or even 10 to 1? Under such circumstances, attracting new business may seem like an impossible goal. But professional service firms with small budgets can market themselves effectively and build their [...]

Choosing the Cash or Accrual Method of Accounting for Your New Business

By |2017-05-24T13:42:07+00:00May 11th, 2016|Categories: Audit & Accounting, Business Advice|Tags: , , , , , |

When you start a business, you have many decisions to make. One very important decision is the method of accounting your business will use for reporting income and expenses on your tax return.  The two methods most commonly used are Cash and Accrual. Cash Method The cash method is the easiest to implement, and is [...]

Don’t Skimp on Business Interruption Insurance

By |2017-05-24T13:42:08+00:00March 2nd, 2016|Categories: Business Advice|Tags: , , , , |

In recent years, many businesses have been pounded by a wide variety of disasters, natural and man-made. From coast to coast, some businesses have fought to keep their doors open despite floods, wildfires, hurricanes, mudslides, vandalism, riots and more. These disasters serve as sobering reminders to expect the unexpected.

Manufacturing Sales and Use Tax Exemptions

By |2017-05-24T13:42:13+00:00November 25th, 2015|Categories: Tax Planning|Tags: , , , , |

The California State Board of Equalization recently announced a new law beginning on July 1, 2014 allowing manufacturers and some research and developers to obtain a partial exemption of sales and use tax on purchases of certain manufacturing and research and development equipment. Below is select information from the BOE website.

Smart Card Transactions – Is your Business Ready?

By |2017-05-24T13:42:13+00:00November 16th, 2015|Categories: Business Advice|Tags: , , , |

Have you heard of a Smart Card? If you own a business that accepts credit cards from customers, need to know about Smart Cards. Commonly called EMVs (an acronym for Europay, MasterCard, and Visa), Smart Cards are common in Europe, Asia, Canada, and other parts of the world. Now these cards are becoming common in the USA. With an EMV, the magnetic strip on the back of credit and debit cards is replaced by a computer chip, which is more difficult to counterfeit than a magnetic strip.

Creating Your Must-have Employee Manual

By |2017-05-24T13:42:14+00:00October 21st, 2015|Categories: Business Advice|Tags: , , , , |

Whether you have a small or large company, human resources (HR) policy manuals are an absolute necessity. Having these manuals in place will prevent wasted hours spent resolving HR issues rather than conducting productive business processes. HR policy manuals communicate an understanding between employees and their employers on topics such as their rights, obligations and the business environment. This article explains how to get started.

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