Archives

Small business

Small-business compliance with unclaimed property laws, known as escheat laws, isn’t usually at the top of the list of most owners’ concerns. But failing to address unclaimed property can lead to audits, interest and penalties. When a customer leaves a deposit and never returns, or you issue a refund to clients via check that they never cash, you can’t just keep the money.

Continue reading

Small business

When it comes to storing old financial documents, I’ll admit that I do have a hoarding problem. Despite knowing better, I’m hesitant to eliminate even old receipts in case one day I’m subject to an audit and the only thing keeping the IRS from confiscating my business is an $8 gas receipt from 1993

Continue reading

Archives