During this time of economic and occupational insecurity, some charities and associations are experiencing membership non-renewals. How can you do a better job of retaining members and attracting new ones? First, make sure you know what members need (such as education and networking opportunities) by conducting surveys, focus groups and online polls. Also make sure
Victor Dozzi
Jan 6, 2021
Dec 31, 2020
The next estimated tax deadline is January 15 if you have to make a payment
- By Victor Dozzi
- Taxes
- 0 Comments
If you’re self-employed and don’t have paycheck withholding, you probably have to make estimated tax payments. These payments must be sent to the IRS on a quarterly basis. The 4th 2020 estimated tax payment deadline for individuals is Friday, Jan. 15. Even if you do have some withholding from paychecks or other payments, you may
Dec 23, 2020
Prevent retail return fraud from damaging holiday profits
- By Victor Dozzi
- Fraud
- 0 Comments
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
Dec 17, 2020
Nonprofit endowments require knowledge and resources
- By Victor Dozzi
- Non-Profit
- 0 Comments
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
- 0 Comments
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
- 0 Comments
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
- 0 Comments
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