Customer returns in January can cut deeply into retailers’ holiday season revenues, particularly if the returns are fraudulent. U.S. retailers suffer annual losses of $18.4 billion from fraudulent returns, which could translate to thousands or millions of dollars depending on the size of your business. Preventing such losses starts with a solid merchandise return policy
Victor Dozzi, Author at Crawford Ellenbogen - Page 11 of 14
Dec 23, 2020
Prevent retail return fraud from damaging holiday profits
- By Victor Dozzi
- Fraud
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Dec 17, 2020
Nonprofit endowments require knowledge and resources
- By Victor Dozzi
- Non-Profit
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An endowment can help preserve and grow your nonprofit over the long term, even when economic storms threaten to shut it down. But you need to make sure you understand the regulations governing endowment spending and have the resources to manage investments. The Uniform Prudent Management of Institutional Funds Act (UPMIFA) regulates how nonprofits can
Dec 10, 2020
Nonprofits: How to acknowledge donor gifts
- By Victor Dozzi
- Non-Profit
- 0 Comments
Holiday-inspired generosity and the desire to reduce tax liability makes the end of the year a busy time for charitable giving. According to Network for Good and other sources, approximately 30% of charitable gifts are made in December alone. For nonprofits, an important part of processing these donations is sending thank-you letters that acknowledge gifts.
Dec 3, 2020
Finding fraud: How to balance the rights of employers and employees
- By Victor Dozzi
- Fraud
- 0 Comments
Privacy laws attempt to balance employers’ interests in minimizing losses and injuries with employees’ privacy interests. But you need to clearly state your business’s search and surveillance policies and have legitimate business reasons for monitoring employees. This generally enables you to, for example, listen in on business-related phone calls, track the use of company-owned devices
Dec 1, 2020
Avoid these four estate planning deadly sins
- By Victor Dozzi
- Estate
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According to literature, the “seven deadly sins” are lust, gluttony, greed, laziness, wrath, envy and pride. Although individuals may be guilty of these from time to time, other types of “sins” can be fatal to an estate plan if you’re not careful. Here are four transgressions to avoid. Sin #1: You don’t update beneficiary forms.
Nov 24, 2020
The importance of S corporation basis and distribution elections
- By Victor Dozzi
- Business
- 0 Comments
S corporations can provide tax advantages over C corporations in the right circumstances. This is true if you expect that the business will incur losses in its early years because shareholders in a C corporation generally get no tax benefit from such losses. Conversely, as an S corporation shareholder, you can deduct your percentage share
Nov 17, 2020
Estate planning and your art collection
- By Victor Dozzi
- Estate
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If you’re an art collector, it’s critical for your estate plan to address your collection separately from other types of assets. You’ll want to preserve the value of your collection and avoid unnecessary taxes. Regular appraisals will give you an idea of how the collection is growing in value and help you anticipate tax consequences
Nov 11, 2020
Is your business vulnerable to identity theft?
- By Victor Dozzi
- Fraud
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According to data company Dun & Bradstreet, business identity theft increased more than 250% in the first half of 2020. You can thank the pandemic — and the government’s release of relief and recovery funds to qualified U.S. businesses — for this remarkable number. In a more typical year, crooks use stolen business identities to
Oct 28, 2020
Put pen to paper: How a letter of instruction can benefit family harmony
- By Victor Dozzi
- Estate
- 0 Comments
You may view your will as the centerpiece of your estate plan. But other documents can complement it. For example, if you haven’t already done so, consider writing a letter of instruction. Elements of the letter A letter of instruction is an informal document providing your loved ones with vital information about personal and financial
Oct 22, 2020
Understanding the passive activity loss rules
- By Victor Dozzi
- Business
- 0 Comments
Are you wondering if the passive activity loss rules affect business ventures you’re engaged in — or might engage in? If the ventures are passive activities, the passive activity loss rules prevent you from deducting expenses that are generated by them in excess of their income. You can’t deduct the excess expenses (losses) against earned