Everybody does it …

How to stop employees from padding expenses

Like inflating income tax deductions, padding expense account reports is something everyone knows is wrong, but many do anyway. According to the Association of Certified Fraud Examiners’ 2012 Report to the Nations, expense fraud makes up 15% of all occupational fraud cases. And while each incident may seem minor, the median annual loss for surveyed companies was $26,000 — a loss few businesses can afford.

Consider business continuity before disaster strikes

Companies without a disaster recovery or business continuity plan only need to consider the aftermath of last November’s Hurricane Sandy. Property damage and business interruption losses are estimated at more than $50 billion, and many businesses in the affected region are still struggling to clean up, rebuild and reopen.

It’s 2013: Do you have a new tax strategy?

Congress’s Jan. 1 tax deal saved the country from falling off the “fiscal cliff,” but it also introduced many new — and potentially confusing — changes to the tax code. Although you’ve likely heard about the American Tax Relief Act of 2012 (ATRA), you may not know how it affects your personal and business taxes. Here are some of the highlights.

How an ILIT can solve your estate planning quandaries

Do you worry that your heirs won’t have sufficient cash to pay estate taxes when you die? Or that your life insurance policy’s value might cause you to exceed your lifetime estate and generation-skipping transfer tax exemptions?