by Jorge Rey
Enough already! It seems like the issues of information security and protecting yourself against the risks of identity theft have been discussed to the point of overkill already. No one can blame you for tuning out every commercial about identity theft or changing the channel when those jingles about checking your credit report come on. Many people often overlook this topic as they think it would never happen to them. Worse, those who own or operate businesses may take the necessary steps to protect themselves but neglect their employees or customers.
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by Bob O’Hara, CPA
It may be a high priority for the near future or something to mull over the longer term, but the need or desire to sell their company for most business owners over the age of 50 will eventually become reality…and with the proper measures and advisers in place this critical transaction can be conducted with minimal stress. Selling or transferring a company is a process that, to be successful, requires a written plan. This plan should set your exit objectives – financial and otherwise – and document how you will achieve those goals.
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by Bob DiQuollo, CPA
Donated property like clothing, furniture, electronics and appliances now must be in “good condition or better” to qualify for a deduction. A receipt from a charity stating “3 boxes and 3 bags of clothing” won’t be adequate. Provide a detailed list showing each item. Take pictures showing good condition. You have to prove that property you donated to charity wasn’t junk—so your digital camera could be your best ally if you’re audited.
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