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Business Owners

How to Protect Your Small Business from Cyber Threats

November 28, 2016

Risk management is a key component in any successful business plan. In today’s world — where data breaches are common occurrences — it’s especially important for business owners to understand the digital risks they face. Are you doing all you can to mitigate the risk of a cyberattack? The importance of cybersecurity Many small-business owners…

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Tesla – How Accounting Can Make a Difference

April 12, 2016

Unless you’ve been sleeping under a rock for the past few weeks, you’ve seen and read all the excitement about the Tesla Model 3 and its recent pre-order count at 325,000 (US News) for a car that is slated to be delivered in late 2017 (read most likely 2018).   Now that is amazing given…

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Mo Money Preparers Plead Guilty – Is this a real company name?

March 17, 2016
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Yes it is.  Apparently there is a real company franchise called Mo Money Tax (apparently with about 300 stores and 18 states) and they were caught with tax return fraud.  The owners of this particular franchise plead guilty to falisying paystub (W2) information in order to defraud the IRS.  They each face a maximum sentence…

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SEC Adopts Regulation Crowdfunding

January 19, 2016

New rules take effect in 2016 On October 30, 2015, after three and a half years of proposals, comments, and discussion, the Securities and Exchange Commission (SEC) announced its final rules on equity crowdfunding for small businesses. The forms that funding portals use to register with the SEC become effective on January 29, 2016, while…

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Nonqualified Deferred Compensation (NQDC) Plans

December 29, 2015

A nonqualified deferred compensation (NQDC) plan is an arrangement between an employer and one or more employees to defer the receipt of currently earned compensation. You might want to establish a NQDC plan to provide your employees with benefits in addition to those provided under your qualified retirement plan, or to provide benefits to particular…

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Golden Handcuffs

December 15, 2015

What are golden handcuffs? The term “golden handcuffs” does not refer to one specific method of retaining key employees. Rather, it refers to a combination of any of a number of different rewards and penalties given to key employees to encourage them to remain with a particular firm. Essentially, an employer interested in golden handcuffs…

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Group Health Insurance: A Valued Employee Benefit

December 2, 2015

Two of the main reasons why employers offer group health insurance are to attract new employees and to retain existing employees. Unfortunately, many employees overlook the value of group health insurance until they have to find health coverage on their own. Almost without exception, group coverage usually offers better, more comprehensive benefits at lower cost…

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Properly Insuring Your Business

November 30, 2015

No matter how careful you are in running your business, accidents happen. And no matter how big or small your business, you’ll have to plan for these and other risks if you want your business to thrive. One way to do this is with insurance. Imagine this: Your custom-made cabinetry business is thriving. You have…

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Health-Care Reform Changes Affecting Employers

October 1, 2015

The 2010 Patient Protection and Affordable Care Act (ACA) includes provisions that directly affect employers and business owners. The following is a brief overview of some of the ACA provisions that employers should be aware of. SHOP Marketplace The ACA created the Small Business Health Options Program (SHOPs) to help small businesses provide health coverage…

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