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  • 2023 Sales Tax Holidays for Back-to-School Shopping

    Posted Date August 1, 2023 Posted Time 12:00 pm Published in

    Now that we are heading into the backend of summer, it’s time for many states to host their annual sales tax holidays for returning to-school shopping. Numerous states with sales tax (remember, not all states have a sales tax) provide the reprieve to help families with the cost of annual school supplies and clothing. According to the National Retail Federation, nearly 80 percent of shoppers are expecting increased costs this year versus last year; so more than ever, consumers are looking for ways to save. Furthermore, about two-thirds of back-to-school shoppers take advantage of these tax-free shopping periods. The vast... View Article

  • How to Reduce Common Payroll Errors

    Posted Date August 1, 2023 Posted Time 12:00 pm Published in

    According to the Internal Revenue Service (IRS) and the National Federation of Independent Businesses (NFIB), almost one-third of companies see penalties due to payroll issues. Understanding a few examples, according to the NFIB, of how companies can better comply and avoid penalties is essential to smoother operations. Underpayment of Estimated Tax by Corporations Penalty As long as there’s a reasonable expectation of at least $500 in estimated taxes owed, corporations are required by the IRS to file. If, however, a corporation doesn’t satisfy its estimated tax payments or pays them after their quarterly submission deadline, the IRS will assess penalties.... View Article

  • The Ins and Outs of a Reverse Stock Split

    Posted Date August 1, 2023 Posted Time 12:00 pm Published in

    When a company decides to conduct a reverse stock split, also referred to as a stock consolidation, the number of shares available to investors is reduced. In a normal (forward) stock split, a company increases its number of outstanding shares without changing their market value. For example, one share of stock valued at $200 may split into two shares, with the shares then valued at $100 each. So, with a shareholder who holds 10 shares for a total of value of $2,000, a traditional one-to-two (1:2) stock split would change his holding to 20 shares – still valued at $2,000.... View Article

  • 7 Best Money Moves for 2023

    Posted Date August 1, 2023 Posted Time 12:00 pm Published in

    In light of our current economy, making sure your money works hard for you is one of the best things to do this year. Here are some ways you can navigate your financial situation, keep tabs on where you are, and adjust if you need to. Shop for a higher return on savings. These days, every extra cent counts. That’s why it pays to look around for higher rates on savings accounts. Several places to check out are PNC (4.65 percent APY), Sofi (up to 4.4 percent APY), and American Express (4 percent APY). Here are a few others. Rates... View Article

  • Insider Threats: Identifying, Mitigating and Preventing Internal Security Risks in Organizations

    Posted Date August 1, 2023 Posted Time 12:00 pm Published in

    One of the most devious and often underestimated dangers in cybersecurity comes from within an organization. These dangers originate from individuals within the organization who have access to sensitive data and systems, making them potentially dangerous adversaries capable of causing significant harm. Understanding, identifying, mitigating, and preventing these internal security risks are paramount for safeguarding an organization’s assets and preserving its integrity. What is an Insider Threat? Insider threats are security risks posed by employees, contractors, vendors, or anyone who has access to an organization’s data or systems. Accidental or intentional insiders cause internal threats. An accidental insider could unknowingly... View Article

  • Compensating Service Members and Establishing Rules and Procedures for Ethical Matters

    Posted Date August 1, 2023 Posted Time 12:00 pm Published in

    CADETS Act (S 467) – This bipartisan bill was introduced on Feb. 16 by Sen. Gary Peters (D-MI). The purpose of this bipartisan bill is to change the age requirements (previously limited to age 25 and younger) for the Student Incentive Payment Program. This program provides financial support to cadets of state maritime academies who enlist or commission in the Navy Reserve at the time of their graduation. The bill passed in the Senate on March 29 and in the House on June 14. It was enacted on June 30. Veterans’ Compensation Cost-of-Living Adjustment Act of 2023 (S 777) –... View Article

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