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Antifraud checklist for construction companies

According to the Association of Certified Fraud Examiners’ Report to the Nations: 2018 Global Study on Occupational Fraud and Abuse, organizations victimized by fraud lose a median $130,000. But construction companies, in particular, are even harder hit, with a median loss of $227,000. What can you do to protect your construction business? Adopt this checklist.   Read More  >>

Hire your children this summer: Everyone wins

If you’re a business owner and you hire your children (or grandchildren) this summer, you can obtain tax breaks and other nontax benefits. The kids can gain on-the-job experience, save for college and learn how to manage money. And you may be able to:   Read More  >>

How lifestyle analysis helps find the money

A business owner first became suspicious when one of her managers bought an expensive boat that seemed beyond his pay grade. A closer look at the employee and his department revealed sloppy record keeping and financial discrepancies. Was he stealing from the company?   Read More  >>

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. Bookkeepers — particularly those in small and midsize businesses — are ideally positioned to embezzle from their employers.   Read More  >>

Tax credit for hiring from certain “target groups” can provide substantial tax savings

Many businesses hired in 2017, and more are planning to hire in 2018. If you’re among them and your hires include members of a “target group,” you may be eligible for the Work Opportunity tax credit (WOTC). If you made qualifying hires in 2017 and obtained proper certification, you can claim the WOTC on your 2017 tax return.   Read More  >>

How proactive fraud detection stops thieves in their tracks

When employees commit fraud, it can take months, even years, for their employers to discover the theft. But proactive fraud detection makes it possible for businesses to detect fraud schemes earlier — long before they generate significant losses.   Read More  >>

Hire your children to save taxes for your business and your family

It can be difficult in the current job market for students and recent graduates to find summer or full-time jobs. If you’re a business owner with children in this situation, you may be able to provide them with valuable experience and income while generating tax savings for both your business and your family overall.   Read More  >>

How to preserve fraud evidence

What’s the first thing you should do if you discover your business has become a fraud victim? Fix it and get back to work, right? Not so fast. Your first action when you uncover fraudulent activity (after contacting your attorney) should be to take proactive steps to preserve evidence. Otherwise, you might inadvertently destroy or discard critical data. And without evidence, fraud can’t be fully traced and perpetrators can’t be prosecuted and punished.   Read More  >>

Business owners: Put your successor in a position to succeed

When it comes time to transition your role as business owner to someone else, you’ll face many changes. One of them is becoming a mentor. As such, you’ll have to communicate clearly, show some patience and have a clear conception of what you want to accomplish before stepping down. Here are some tips on putting your successor in a position to succeed.   Read More  >>

ONE BIG, HAPPY family business

How to compensate nonfamily employees in a family business   Read More  >>