April 27, 2015
The best protection is to read your monthly statements, and report unauthorized charges. If a criminal steals a credit card number, you are not liable for unauthorized charges. If a criminal steals a debit card number, you are not liable for the charges if you report them within 60 days of receiving the statement. Reviewing the monthly statements is critical with debit cards.
While many banks have voluntarily adopted a $50 limit for their debit card holders, you might not want to rely on that promise in the case of a loss. Also, the nonmonetary consequences of debit card fraud can be far reaching. Since these are a direct line into your bank account, a thief could wipe out the account before the next statement is even received.
Federal law allows each person to get a free credit report each year from the three major national credit bureaus (Equifax, Experian and TransUnion). It is definitely worth it to get at least one of these reports right now. You can access your report at www.annualcreditreport.com. If you see any suspicious activity, or if your monthly statements show any questionable credit or debit charges, take action. Put a freeze on your credit and cancel all cards. Get new ones with new account numbers.
This tax season is an important one for many business owners because it’s the first that will be impacted by the Tax Cuts and Jobs Act (TCJA). How big of an impact is dependent on your unique situation. We’ve compiled this short list of provisions that may affect the business community:
According to Forbes.com, Super Bowl viewers traditionally load up on millions of pounds of less-than-healthy foods during the big game—including ribs, pulled pork, tortilla chips, nuts, popcorn and bacon—all washed down with beer (the Super Bowl beverage of choice). If you are trying to stick to your New Year’s resolution to eat better, consider a few healthy substitutes for the traditional Super Bowl eats:
The combination of running a business and your life and preparing for tax time can drive some people into a slight panic. But no need to get stressed if you are prepared. Now is the time to start organizing all documents required to file your tax return.