Check Your Business Bank Balances Daily

Unauthorized electronic payments from business bank accounts are a growing concern.  Phishing e-mails and malware allow criminals to take control of your bank accounts to initiate payments out of your accounts.  When funds are stolen from a business bank account through an unauthorized payment order, who bears the loss? Probably not the bank.

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Are You an S Corporation Stockholder?

Are you an S Corporation stockholder? Are you taking reasonable compensation in the form of wages? S corporation compensation requirements are often misunderstood and abused by owner-shareholders. An S corporation is a type of business structure in which the business does not pay income tax at the corporate level and instead distributes (passes through) the income, gains, losses, and deductions to the shareholders for inclusion on their income tax returns. If there are gains, these distributions are considered return on investment and therefore are not subject to self-employment taxes.

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Disaster Recovery Statistics

Data loss has serious financial implications. Downtime can occur at any time. Even something as small as an employee opening an infected email, or as significant as a natural disaster.

Despite that, 75% of small businesses have no business continuity plan in place.

We have compiled an interesting mix of disaster recovery statistics from a variety of sources. A disaster recovery plan is a lifeboat for your business.

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Benefits of Being SOC Audit Certified

Due to the increase in user entities outsourcing various processes and segments of their business, the demand for assurance of confidentiality and privacy of those service organizations has become a standard part of conducting business. In 2011, SAS 70 was changed into SOC audit (Service Organization Controls reports), to prevent the continued misuse of the old standard for assessing internal controls. The two most common types of audits, SOC 1 and SOC 2, can be broken down into two types of reports (Type I and type II), based on the impact of those internal controls on financial reporting and the time period being audited.

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