In case you haven’t heard, the “Wage Theft Prevention Act” took effect in April 2011. This means that by February 1 (of each year) employers will have to give a written notice of wage rates to all of their employees. This is in addition to informing new employees of their wage rate at the time […]
One vital aspect of running a business is being able to understand the risks you face. Once you have a handle on that, you are in a much better place to initiate strategies for risk management. NY is a big, busy city with a large population that ranges from the very wealthy to people living […]
What exactly is an audit? The dictionary says it is a thorough examination or check – an in-depth examination of every part of a process. That applies whether you’re talking about accounting audits or workers compensation audits. You usually hear the term in relation to business. Basically, it means going over everything to do with […]
The Internal Revenue Service just released their 2012 calendar for small business which includes all of the neccessary filing dates for most of your perfunctory transactions. Although the corporate filing deadline remains March 15th, on the personal side the filing deadline is April 17th due to the fact that April 15th falls on a […]
Operating a business means maintaining complex operations. Streamlined operational procedures are vital – not least for keeping track of all the potential loose ends in your supply chains, which may be key for your risk management. NY is one of the busiest business hubs in the country, so protecting the efficiency of your supply chain […]
The best preparation you can have for any kind of audit is good record keeping, efficient systems and standard operating procedures that are adhered to at all levels. This is true of all business audits, including financial audits, stock audits and workers compensation audits. With workers’ comp, the most basic requirement is that you create […]
Ever wonder why there is so much seemingly incomprehensible text in the fine print of your insurance policy? Every industry has its fair share of jargon and the insurance industry is no exception. One term that crops up regularly and may be confusing is ‘risk management’. NY businesses, particularly small businesses in heavily populated urban […]
The word audit is not something anyone wants to hear. For most people it conjures up images of frenzied hunting for pieces of paper you know you were meant to keep track of and a general increase in stress levels. A workers compensation audit is usually no different. An audit is an inspection, a verification […]
Every business should have a business plan, even small businesses. No matter what the size of a business, writing a business plan helps you focus on every area, including basic risk management. NY small businesses may face particular dangers – identifying them early means being able to add measures to reduce risk and minimize losses. […]