Tax Season Security Threats You Need to Know

Tax Season Security Threats You Need to Know

The third annual National Tax Security Awareness campaign started yesterday. Through December 7, it will highlight a daily security topic and mark the launch of a special @IRSTaxSecurity Twitter handle that will keep you aware of emerging threats throughout the 2019 tax filing season. For almost two decades, Altima Business Solutions has been designing, implementing and safely maintaining financial management systems for small businesses. We understand these threats! Here are some basic steps to protect yourself: Secure your networks It’s critical that you secure your network, both electronically and physically. Unless you are an expert, make sure to consult with one. Don’t know anyone? We can recommend these two locally owned firms: Refresh IT PCIT Technology Solutions   Understand security rules and follow them Phishing emails: Phishing emails account for such a large portion of cyber attacks, 90 to 95 percent per IRONSCALES’ 2017 Email Security Report, because companies fail to teach employees about the danger: Do not provide password or any other personal information. Reputable institutions do not ask for it via email. They use secure messaging. Do not open any attachment from an unknown source. Do not click on any embedded buttons or links, especially those that say “unsubscribe” or “remove me from this mailing list.” Instead, block the sender. If in doubt, call the sender. Password: According to the 2017 Verizon Data Breach Investigations Report, “81% of hacking-related breaches leveraged either stolen and/or weak passwords.” Use long and unique passwords Issue guidelines for your employees Vary your passwords to make it tougher for cybercriminals to use credentials stolen from one site to access your data on...
What Monopoly can teach you about business funding

What Monopoly can teach you about business funding

Monopoly has been a classic board game for over 100 years but if you’ve played it, you quickly realize what it takes to keep the cash flowing to become a real estate tycoon. But the game offers wisdom that can be applied to the real world of financing. Below are four comparisons to increase your understanding and chances of securing the funding your business needs. 1/ Assets Based on real estate, Monopoly allows you to amass three types of assets: land, houses and hotels. Sometimes, when you are low on cash, you can trade a house or two, maybe a hotel, for a loan from the bank. In your business, your assets can be a piece of land or a building, as well as equipment, vehicles, inventory, etc. This can be used as collateral by a lender to guarantee that you will repay them the loan they approved. 2/ Cash flow Doesn’t it feel good to collect cash every time a player stops on your property and has to pay the rent? Yeah, lenders love that too! If you have a history of consistently collecting revenue, lenders will feel comfortable that you possess that know-how and will continue to produce, providing an ability to repay the monies they lent you. 3/Get-Out-Of-Jail card At times we can use some help from above! In the same way that a get-out-of-jail card bails you out when you need it the most, in real life, a co-signer, someone willing to pledge their assets or personal reputation, could be just what you need to overcome current challenges. 4/Always have cash on hand By far,...
5 Contract agency opportunities for Michael recovery

5 Contract agency opportunities for Michael recovery

Your company can help in Hurricane Michael recovery efforts Following Hurricane Michael’s October 10 landfall near Mexico Beach, Florida, the Thomas T. Stafford Disaster Relief & Emergency Assistance Act. requires FEMA (Federal Emergency Management Agency) to contract with businesses like yours, located in the affected area when feasible and practical, to help with recovery efforts. Follow these three steps: Register with the System for Award Management (SAM) Complete the Disaster Response Information Section here indicating you want to be included in the Disaster Response Registry. The Disaster Response Registry is used by FEMA and the U. S. Army Corp of Engineers to establish their list of contractors. You can also contact your local PTAC (Procurement Technical Assistance Center) for assistance and to make sure you are registered in all other important databases, like insurance approved contractors. They will assist you with registering for free. Click here to find your PTAC. Complete FEMA’s Industry Liaison Program Vendor Profile form Submit the form to: industry@fema.dhs.gov and look for Contracting Opportunities on the following sites: Federal Business Opportunities (Fedbizopps) Contract opportunities exceeding $25,000 DHS Advance Acquisition Planning System To monitor the DHS Acquisition Planning Forecast System – contract actions exceeding $150,000. Potential Subcontracting Opportunities with DHS Prime Contractors: Information on large business Prime Contractors who are interested in subcontracting with small, small and disadvantaged, women-owned small, HUBZone-certified, 8(a), veteran-owned small, and service-disabled veteran-owned small businesses, complete with tips on how to pursue subcontracting opportunities with them. Secure or extend your line of credit, working capital or other financing tools to withstand partial or delayed insurance and federal payments. If you need assistance,...
Benjamin Franklin’ Pros and Cons of Using a Funding Executive

Benjamin Franklin’ Pros and Cons of Using a Funding Executive

Benjamin Franklin is famous for many things, from being one of the Founding Fathers of the U.S. to inventing the lightning rod and being on the US$100 note. Maybe less known, he’s also the inventor of a simple but effective decision-making chart: Pros and Cons chart. He himself used it whenever a clear decision could not be made quickly. Rather than spending a countless amount of time with indecision (as he truly understood that time is valuable), he would create a Pro & Cons chart and whichever side was the longest that was his decision. He is known not to contradict his decision once made, therefore, if it was a great tool for one of the first wealthiest men in America, it surely can apply here. Since my last article “What is a Funding Executive?” I have received many opportunities, but also many inquiries to clarify why a Funding Executive is a viable option. So, I have created a Pro’s and Cons chart, Benjamin Franklin style. Here is a quick recap of what a Funding Executive is: A funding executive is a financing expert who interacts with banks and lending institutions on your behalf. They have an in-depth understanding of all the types of business funding as well as a large pool of financing sources. Contrary to a banker, they do not work with one bank or lending institutions but a multitude. Start a conversation today! Our Funding Executives are here and ready to assist you in achieving your funding objectives, which allows you to focus your valuable time on moving your needle.   Altima Business Solutions has pioneered “Funding...
What is a Funding Executive?

What is a Funding Executive?

Q: What is a Funding Executive? A: A funding executive is a financing expert who interacts with banks and lending institutions on your behalf. They have an in-depth understanding of all the types of business funding as well as a large pool of financing sources. Contrary to a banker, they do not work with one bank or lending institutions but a multitude. Q: What does a Funding Executive do? A: A Funding Executive helps businesses procure financing for their organizations. They select, solicit and negotiate funding on your behalf, representing your interests and not those of any particular banks and lending institutions. For example, your banker can only offer you a loan or line of credit from the bank he/she works for, limiting your options. A Funding Executive, on the contrary, doesn’t work for one bank or lending institution but rather have a ‘distributor’ relationship with multiple banks and lending institutions. That allows the Funding Executive to compare and find the best options available for you on the market. Q: How does a Funding Executive get paid? A: A Funding Executive gets compensated through commission paid on the amount of financing secured. Depending on the type of funding, commission can be paid either by the lending institution or by the business for which funds have been secured. Note: These commissions do not include any preparatory work, performed by their underwriting back office, that may be required. Q: Why do I need a Funding Executive? A: A business loan (or other business financing type) is not the simplest product! A good Funding Executive can navigate you through many question marks, compare...