July 25, 2016 | Business Plans, Financial Planning, Fraud Prevention
The Association of Certified Fraud Examiners (ACFE) has been publishing studies every two years for the past 20 years to raise awareness of occupational fraud, and the role strong internal controls can play in limiting these schemes. The 2016 Report to the Nations on Occupational Fraud and Abuse covers more than 2,400 cases of white collar crime, occurring Continue Reading »
May 13, 2016 | Accounting Standards, Fraud Prevention, IRS Regulation, Tax Planning, Tax Preparation
There’s no doubt that technology has transformed our lives, from mobile apps to the Internet. It facilitates financial transactions and the transmission of information. But with convenience, it also brings risks. There are weekly news stories about sensitive personal data being hacked online and sold on the black market. Thieves use personal data to access Continue Reading »
January 8, 2016 | Fraud Prevention, IRS Regulation, Tax Planning, Tax Preparation
The tax law passed by Congress and signed by President Obama on December 18th contains some payroll tax provisions that are of interest to Maine employers. Here are four changes in the Protecting Americans from Tax Hikes Act of 2015 (PATH Act). 1. There will be an earlier deadline for filing information returns in 2017.This provision Continue Reading »
September 18, 2015 | Accounting Standards, Business Plans, Fraud Prevention
Small businesses have to maintain payroll for their employees. This means that business owners cannot avoid collecting and maintaining personal information about their employees, both current and former. For long established business, it’s possible that there are boxes of old personnel files in storage somewhere. The data contained in those records makes the business and Continue Reading »
April 24, 2015 | Business Plans, Fraud Prevention
It may seem like checks are less common for Maine-based small businesses than they used to be. However, check fraud continues to cost individuals and small businesses billions of dollars every year. Even though forged checks have always been a problem, inexpensive laser printers and easily obtained check-quality paper make check fraud more of a Continue Reading »
December 29, 2014 | Business Plans, Fraud Prevention
Many Maine-based small business owners assume their companies are less susceptible to fraud than large corporations. It seems like their operations are more tightly controlled, with many trustworthy and longtime employees on the payroll. Unfortunately, however, this is not true. According to the Association of Certified Fraud Examiners (ACFE) Report to the Nations on Occupational Fraud Continue Reading »
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