Merchant services are a service that allows merchants to accept electronic payments. The process involves gathering transaction data, providing authorization and collecting funds from the issuing bank and sending payment to the merchant. Although it is automatically associated with credit and debit cards, there are other payment methods processed by merchant services. 1. Gift Cards…
Get the Most Out of Your POS System
POS systems are designed to save your business time and money, but restaurants and retail stores that are simply purchasing one without taking any further measures have failed to realize their system’s full potential. Improving productivity and increasing return-on-investment is an ongoing process, not something that can be accomplished all at once. With…
Captive Insurance at a Glance
The Safe Harbor Group Monthly Digest Captive Insurance At a Glance by Brent Robbins, CPA, MPrA, July, 2016 Forming a captive insurance company may be one of the best risk management and wealth planning tools available to business owners today. In addition, captives are one of the best – if not the very best – asset…
10 Reasons Your Business Needs To Accept Credit Cards
Virtually every business these days must accept credit cards for payment, and your business should be no exception. While many small businesses choose not to do this due to the transaction costs associated, the benefits far outweigh the drawbacks. Here are 10 reasons why you should make the switch as soon as possible. 1. Improved…
5 Coverage Questions For Cyber-Liability In A Captive
Many captive owners are being asked to consider writing cyber-liability coverage in their captives. The idea has been discussed at numerous captive conferences over the last several years. Additionally, there are dozens of articles available on captive vendor websites that explore the possibility. Reading these articles can lead many owners and board members to…
Insure Hidden Risk
Most business owners unknowingly self insure a large amount of risk. Many of these are hidden or “below the surface” risks inherent in the operation of a business. With a captive, self-insured risks can be converted into tax-deductible premiums that are paid to a captive. Any materialized risks can now be paid with pre-tax…