#Protectingbusinesses

[thxnews]

IRS on Employee Retention Credit Scams

  Employee Retention Credit (ERC) scams have been on the rise since the implementation of the CARES Act, putting businesses at risk when seeking tax credits. These scams are orchestrated by individuals or companies posing as legitimate ERC consultants, posing a significant threat to businesses aiming for tax relief. Understanding these tax scam strategies is crucial for businesses to avoid fraudulent activities and remain compliant with the IRS tax credit program.   Marty Stewart, CSO of Disaster Loan Advisors, Highlights IRS Guidelines Marty Stewart, Chief Strategy Officer (CSO) with Disaster Loan Advisors (DLA), emphasizes the importance of IRS guidelines in combatting ERC scams. The IRS has provided crucial insights into the functioning of ERC scams and offers effective measures to ensure business security and protection. Furthermore, Stewart advises businesses to stay informed about these guidelines to safeguard their interests.  

Business Owner Guidance: Key Takeaways for the Employee Retention Tax Credit

In order to protect their businesses from ERC scams, business owners should keep the following key takeaways in mind: Recognizing Red Flags and Taking Proactive Measures Business owners should be aware of red flags that indicate potential ERC scams. Illegitimate ERC consultants may inflate eligibility, submit erroneous claims, engage in identity theft, file false claims, exaggerate salaries and wages, seek credits for disqualified employees, or charge an ERC contingency fee. By recognizing these warning signs, business owners can take proactive measures to safeguard their businesses against fraud.   Ensuring Financial Stability and Compliance To ensure financial stability and long-term success, business owners must stay informed about ERC scams and actively protect their businesses from fraudsters. Working with established professionals, insisting on personal communication, understanding ERC requirements, inquiring about defense against IRS audits, and establishing a realistic time frame for receiving the credit are essential steps in achieving compliance and safeguarding businesses against fraudulent activities.  

Understanding Employee Retention Credit (ERC) Scams

ERC scams encompass various fraudulent activities aimed at exploiting businesses seeking the ERC tax credit. These scams include illegitimate ERC consultants, erroneous eligibility claims, identity theft, false claims, inflated salaries and wages, and seeking credits for disqualified employees.   Illegitimate ERC Consultants and Exploitative Practices Illegitimate ERC consultants pose a growing threat to business owners, misrepresenting themselves as seasoned tax professionals and promising lucrative tax credits under the CARES Act. They charge exorbitant fees to secure these credits and engage in fraud, such as creating false documents or using fabricated employee information.   Submitting Erroneous Eligibility Claims and the Risks Involved Submitting erroneous eligibility claims is a common tactic employed by ERC scammers, misleading businesses about their qualification for the credit. However, such actions can attract IRS scrutiny and lead to severe penalties for tax fraud.   Identity Theft and its Role in ERC Scams Identity theft is another method used in ERC scams, with fraudsters posing as ERC consultants or tax professionals to extract sensitive company information. This stolen data enables them to file false claims under the business owner's name, diverting funds to their accounts and damaging the business's finances and reputation.   Filing False Claims and Exaggerating Salaries ERC scammers often file false claims, providing fraudulent information to claim credits they are not entitled to. Additionally, scammers employ the tactic of exaggerating eligible salaries and wages, inflating these figures to fraudulently claim higher credits. These deceitful practices can result in penalties, tax liabilities, and damage to a company's reputation.   Seeking Credits for Disqualified Employees Some scammers seek ERC credits for disqualified employees, attempting to include ineligible individuals in their claims. This can lead to serious consequences, including penalties and legal issues for businesses that unknowingly fall victim to such schemes.   Recognizing Red Flags and Protecting Against Fraud By staying informed and exercising caution, business owners can protect themselves from falling victim to employee retention credit scams. They must be vigilant about red flags that indicate potential ERC fraud, such as a lack of specific information, premature determinations of eligibility, charging high percentages of recovered taxes, and promises that appear too good to be true. Taking these warning signs seriously is crucial in safeguarding their businesses.  

About Disaster Loan Advisors Employee Retention Credit Services

Disaster Loan Advisors is a team of financial tax professionals and ERC consulting specialists dedicated to helping businesses navigate the ERC program. They possess extensive experience in assisting businesses with ERC claims and demonstrate a commitment to delivering professional services at a reasonable fee. By guiding businesses through the complex ERC filing process, Disaster Loan Advisors ensures compliance with IRS rules and regulations while maximizing the full value of the ERC credit program.   Sources: THX News & Disaster Loan Advisors. Read the full article

#Businesscompliance #EmployeeRetentionCredit #EmployeeRetentionCredit(ERC) #ERCconsultants #ERCeligibility #Fraudulentactivities #IRSguidelines #MaximizingERCcredits #Protectingbusinesses #Redflags #Taxreliefscams

[fieldsinsurance]

Fields Insurance has been insuring families and businesses since 1993! Let us help you today protect what matters most. Our ph # is 901-488-9150, text us at 901-296-3083, or email us at [email protected]. #insuringfamilies #insuringbusinesses #protectingfamilies #protectingbusinesses #convenient #fieldsinsuranceagency (at Fields Insurance) https://www.instagram.com/p/CNcrtImFoCR/?igshid=1sjqou4rydnnt

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[wholeectary]

They are available in different sizes and colors

Burglaries and break-ins of business premises is a great challenge affecting many people. Therefore, some simple and cost-effective safety measures are essential. The value of deploying additional security measures for a wholesale Roller Blinds Components Accessories Factory business usingsecurity shutters  Besides the normal security measures to cover losses and damages, additionalsecurity measures are important as well. Installation of security shutters suchas, steel doors, retractable grills, security gages and roller shutter doorsprevent frequent break-ins.  The growing approval of security shutters by businesses  Different business have benefitted from the installation of roller shutterdoors and security roller shutters. These shutters consist of rows of metallictubes or slats that are joined by hinges. It is therefore, easy to raise orlower them due to their flexibility. 

They are available in different sizes and colors which encourage various businesses to purchase them.  Collapsible gates and retractable grills - sound alternatives tosecurity roller shutters   Although, installation of security shutters is an effective and acceptable security measure against break-ins, many businesses have employed the use of collapsible gates and retractable grills. They are similar to portcullis security roller shutters .This is because they contain build-in gapes that facilitates a clear view inside the buildings by passers-by.  Collapsible gates and retractable grills also consist of a defensive metalliclattice shield that is made up of flexible panels across them.   Unlike the pull-up and pull-down of security means, roller shutters, collapsible gates and retractable grills are able to open and close in sideways direction. Closed collapsible gates and retractable grills are therefore stacked carefully to one side for maximum protection. 

 It is always believed that collapsible gates, portcullis security rollershutters and retractable grills are very aesthetically pleasant when closed.This is largely connected to the lattice pattern of retractable grills andcollapsible gates when closed. In addition, some people also take that thesesecurity means have a more nostalgic or a traditional look compared to othersecurity roller shutters.  Steel doors and security cages - two other important securityshutter measures   Security cages and steel doors are also important when it comes to protectingbusinesses. Steel doors are often preferred since they offer a much tougher andfar less flexible barrier compared to the usual wooden doors.  Although steel doors are heavier and more alarming than wooden doors, they areavailable in a wide variety of designs. They easily fit into offices and otherbusiness premises without difficulty. On the other hand, security cages enablehigh security areas to be sectioned off. 

[gordillolawfirm]

Running a business can be very demanding and time-consuming. When you're too busy, you may overlook the fact that, in addition to building your business, you should also get business insurance to protect it from a variety of risks.

Without business insurance, your company could be jeopardized if you are sued or suffer an unanticipated loss.

There are various types of business insurance, and it's crucial to understand the right type for your type of business and the levels of coverage it provides.

If you haven't purchased business insurance yet, here are the five common mistakes to avoid when doing so.

1. Purchasing a policy that doesn't offer you legal representation in the event of a lawsuit. 2. Failure to protect against income loss. 3. Failure to update your insurance coverage as your business grows. 4. Failure to protect yourself against employee lawsuits. 5. Reliance on homeowners insurance to cover a home-based company.

Because each organization has unique risks and assets, there is no way to determine precisely what coverage your business needs without conducting an assessment.

Before you meet with an insurance agent, schedule an insurance audit with your lawyer. Your lawyer can help you assess the specific risks your business encounters at each stage of growth to identify the kind of insurance you need and the appropriate amount of coverage to protect your business assets both now and in the future.

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