Set up Important Internal Controls Separate duties of receiving funds, disbursing funds, writing checks, signing checks, and the reconciling of bank accounts. Having one employee responsible for all cash related functions makes small businesses vulnerable to fraud.
Board Members of CIRAs (Common Interest Real Estate Associations) have two basic fiduciary duties: the duty of care and of loyalty to the association itself and its members/shareholders. Directors must refrain from self-dealing and receiving improper personal benefits. Decisions, especially financial ones, must be made on an informed basis, in good faith, and in the honest belief that the action was taken in the best interest of the Association.
Often times, clients ask us the right (and legal) way to write off vacation expenses as tax deductions. We’ve compiled a few tips to make sure you are complying with the IRS Establish business appointments with business colleagues prior to your trip.
Americans, by and large, are “do-it-yourselfers”. Books, websites, and software programs exist solely to help to tackle all levels of everyday challenges. The same holds true for tax preparers and for estate planning.
While children do learn financial lessons in school, the best way for them to pick up good money skills and become financially responsible adults is to be proactive in teaching your children about financial matters. Consider the following suggestions. Set a good example.