Cyber Security and Your Business
Today's cyber criminal is wonderfully professional and ingenious. James Lyne, noted specialist in malware and hacking, exposes technology vulnerabilities especially for small businesses in this Ted Talk: on.ted.com/Lyne.
Work Opportunity Tax Credit Available Through 12/31/13
The American Taxpayer Relief Act of 2012 (ATRA) (H.R. 8) extends the Work Opportunity Tax Credit (WOTC) for hiring certain workers through Dec. 31, 2013. www.irs.gov
Do you need an employer identification number, or EIN?
No need to file a Form SS-4. Apply online at: www.irs.gov.
Government Tools for Small Business
Learn about the tools & programs the government offers to help small businesses compete in the federal sector: www.sba.gov.
Pension Standards & Post-Employment Benefits
Governmental Accounting Standards new Board Chairman David Vaudt talks about his plans and the board's agenda for pension standards and post-employment benefits in the retiree area.. in an interview with Accounting Today:www.accountingtoday.com.
Report Tax Scams
Find out how to report tax scams: www.irs.gov.
Every Business is Vulnerable to Employee Fraud
A recent article in The Wall Street Journal, contained the following recommendations from the Association of Certified Fraud Examiners.
• Don't put the same person in charge of both accounts receivable and the company's disbursements.
• Hire an outside accountant annually to perform an audit.
• Beware of employees involved with the company's finances yet never take a vacation.
• Watch for changes in lifestyles such as expensive cars and vacations.
• A common fraud is kickbacks involving vendors. Be alert to unusually close relationships between employees and vendors.
• Be the first person to open bank statements.
• Examine the images of canceled checks.
• Look at receipts to ensure that federal and state taxes were paid.
• Maintain an open door policy that permits employees to talk confidentially about their suspicions.
In today's economic environment and competitive marketplace business is tough enough, so take steps now to prevent internal fraud.