You’ve worked hard for the money from your small business. Make sure you keep it. One of the things that CPAs talk about is the need for separation of duties in your bookkeeping department. In other words, the person writing checks should not be the person who reconciles the accounts or preparing the financial statements. [...]
The most likely person to embezzle from a small business is the bookkeeper. There are two big reasons: (1) Small business owners often aren’t as diligent at checking references and (2) Opportunity. It’s easy to become better at checking references, but the only fail-safe way to stop embezzlement with an in-house is to hire more [...]
My last two blog posts dealt with a window that has just opened that levels the playing field on a cool way to make money (The End of the Age of the Geeks) and predictions about why you’re going to need to make money (Prediction about Social Security & Medicare) . Now let’s talk about [...]
