What You Should Know About Worker’s Compensation Insurance


The law in most states requires some form of workers’ compensation insurance and most require employers to have coverage as soon as they hire their first employee. Workers’ compensation insurance provides coverage for an employee who has suffered an injury or illness resulting from job-related duties. Coverage includes medical and rehabilitation costs and lost wages for employees injured on the job.

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Can You Ask a Credit Card Customer for Personal ID?


While on vacation recently, I made a number of purchases with my credit card and was asked by the merchant for my picture ID before the transaction was completed. Since this is not common practice in the area where I live, it raised a question in my mind: Are merchants allowed to ask credit card customers for personal identification?

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New York Lawmakers Act to Speed Up EMV Technology Adoption


In October 2015 U.S. retailers and payment processors will adopt EMV (the global standard for embedded-chip technology launched by EuroPay, MasterCard® and Visa®) technology to help prevent widespread fraudulent activity. The outdated and obsolete magnetic stripe on payment cards that store and transmit financial data will be replaced with embedded microchips which dramatically improve security measures. As the microchip-embedded cards (chip cards) replace magnetic stripe cards, retailers will become responsible for paying fraudulent charges if they decline to upgrade their systems in order to accept EMV payments by the October 2015 deadline.

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Chargeback Risk Management Tips for E-Commerce Merchants


A chargeback occurs when the holder of a credit card contacts the card issuer to dispute a charge on his or her account. Chargebacks occur to all sorts of businesses all the time, but e-commerce businesses are at greater risk because of the card-not-present nature of their transactions.

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Helpful Hints on Tax Deductions and Tax Credits for Small Business


Tax deductions and tax credits are obviously two different things – but what the differences are and how they apply to small businesses can often be misunderstood. To clarify, tax deductions cut your taxable income by a percentage based on your tax bracket, and become more valuable as your taxable income rises. For example, if you’re in the 15% bracket, each dollar deduction cuts your tax by 15 cents. If you’re in the 35% bracket, each dollar deduction cuts your tax by 35 cents. Tax credits are geared toward the bottom line. They cut your actual tax, dollar for dollar making them more valuable to those taxpayers in lower tax brackets.

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