Do You Need An Operating Agreement For An LLC? The formation of a new business entity can be both exciting and frustrating. The complex interplay of state and federal laws, industry regulations, and local licensing requirements can make it difficult to determine which business structure offers the most appropriate balance of liability protections, business owner […]
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Show gratitude always – the 2024 version
We’re just past Thanksgiving 2024 in what seems like another busy, fast, and crazy year. In thinking about writing about being thankful or gratitude, I can’t say it better than I have before, so here is my annual blog for the week of Thanksgiving. And of course, every day of the year is a good day to show gratitude to others and to be thankful.
This is a good time of year to think of gratitude generally and what you’re thankful for specifically. At the same time, it’s a great time of year to spread good feelings, which you can
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What Small Business Owners Should Know About Embezzlement
What Small Business Owners Should Know About Embezzlement The United States Sentencing Commission states that 10% of all federal offenders in Arizona are sentenced for fraud, theft, or embezzlement. Many of these offenders were probably small business owners, and some may have unwittingly embezzled funds. This offense is all too easy to commit, and even […]
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The Need for Outside Investigators in Occupational Fraud: A Case Study on Misuse of the Corporate Uber Account
Recent statistics from the Association of Certified Fraud Examiners’ (ACFE) 2024 Report to the Nations highlight that organizations lose an estimated 5% of revenue annually to fraud. While internal controls and monitoring are essential first steps, engaging independent investigators can be crucial when potential fraud is detected. A recent investigation conducted by our firm helps illustrate why.The InvestigationAn organization retained our firm to investigate concerns that a director-level employee had made potentially fraudulent charges to the organization’s corporate Uber account. These concerns were first brought to the organization’s attention by a member of the finance team, who noticed unusually high
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What Is Senate Bill 2 And Why Should Investigators And Law Enforcement Agencies Who Conduct Investigations Into Alleged Police Misconduct Be Paying Close Attention To Its Provisions?
Part One[1]: Although Senate Bill 2 (SB 2) took effect January 1, 2022 (some of its provisions took effect at later dates, as outlined below), many law enforcement agencies (and outside investigators) are still becoming acquainted with its many new, impactful provisions. Here, I highlight noteworthy provisions of SB 2 while also highly recommending giving SB 2 a close read before embarking on any Peace Officer misconduct investigations. Do not sleep on SB 2! The two most significant takeaways from the enaction of SB 2 lie in (1) the substantial, new power SB 2 conferred on the Commission
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Optimism should be your default
Maintaining optimism isn’t just about wearing rose-colored glasses. It’s about you recognizing opportunity where others see obstacles. This mindset allows you to think strategically, thereby inspiring your team and identifying innovative solutions a pessimistic leader might miss. Optimism allows you to view a setback through a lense that informs better decision-making. It has a positive effect on your professional relationships, your company, and results in “pay it forward” moments for both.
If you carry the power of optimism into business relationships it can create a compound effect that helps shape your professional network. When you consistently approach people with genuine
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Legal Structures For Asset Protection: Trusts, LLCs, And Corporations
Legal Structures For Asset Protection: Trusts, LLCs, And Corporations Various strategies exist that can help people legally safeguard their assets; each of these approaches differs in terms of benefits and security. Some examples of legal vehicles utilized to protect assets include trusts, corporations, and limited liability companies (LLCs). Understand the different legal structures available for […]
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The Art of Investigating Occupational Fraud
Occupational fraud remains among the most damaging threats to organizational assets and reputation. According to the Association of Certified Fraud Examiners (ACFE)’s latest Report to the Nations, organizations lose an estimated 5 percent of their annual revenue to fraud, with the median loss exceeding $8.3 million in cases involving senior employees. Investigating these frauds is particularly challenging because the perpetrators are trusted insiders who understand control systems and can influence evidence and witnesses. The Dixon municipal fraud, where a trusted employee embezzled $53.7 million over two decades, exemplifies how traditional controls can fail against sophisticated insider schemes.The critical first phase
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Doctor’s Diagnosis Failure: Can One Sue?
All patients are dependent on medical practitioners to help them navigate through their health issues. After all, the life of a patient relies upon the timely detection of a disease so that it can be treated in the right manner. However, did you know that in case a doctor fails at making an accurate diagnosis, he can be put under scrutiny with the help of a medical malpractice suit? A doctor’s diagnosis failure can be incredibly harmful for you or a family member.
Although one point to remember here is that an adverse outcome does not necessarily mean that
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Greatness is in the agency of others: empower success
True greatness is based on our ability to unleash the potential of those around us. To do this you have to shift your focus from personal accomplishments to enabling others’ success. If you do so, your actions will have an effect that transcends what you can achieve alone. This is the opposite of the notion that leadership centers on your individual authority alone and instead emphasizes the power of giving others agency, responsibility, and ownership across your organization and underlying teams.
This concept goes beyond formal leadership roles. A great example is a teacher who focuses on developing students’ critical
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Navigating Commercial Lease Negotiations: Tips for Tenants And Landlords
Navigating Commercial Lease Negotiations: Tips for Tenants And Landlords According to Statista, the commercial real estate sector experienced negative returns in 2023 – something not seen since 2009. Additionally, the average monthly rental cost for shopping center space in Phoenix has been steadily climbing since 2020 – rising from $18.8 per square foot to $24.7 […]
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Be nice
I generally do not rerun prior posts but with the current state of things, the general negativity that seems to be hanging in the air, and coarseness in dealings this post from 2018 came to mind. It applied then. It applies now. It applies always.
Life seems to be made up of many rules, written and unwritten. Most are a matter of common sense, like just being nice to people you meet and deal with. It sounds so obvious you may be asking yourself why I would spend time even mentioning it. Despite being obvious, I’ll bet someone just came
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Estate Appraisals: What Is The Role Of Appraisals In Estate Planning?
Estate Appraisals: What Is The Role Of Appraisals In Estate Planning? Many people assume that having an estate plan is as simple as creating a will and calling it done. However, this is not always the case. Depending on the size, value, and assets involved in an estate, an estate appraisal may be necessary. Estate […]
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It’s always a good time to think about your goals
Every day is a good day to think about and set goals. these can be short term or long term goals. Many people look to New Year’s Resolutions as the time you set goals or challenges for yourself. A lot of those same people are the ones who let those resolutions fall by the wayside before February 1. The fact is there is no date or time frame that matters for goal setting. What matters is taking the time to think about your goals and then go about identifying the steps and related time frames on the way to reaching
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Legal Considerations In Commercial Lease Agreements: Key Clauses And Protections
Legal Considerations In Commercial Lease Agreements: Key Clauses And Protections Commercial lease agreements are crucial for commercial real estate (CRE) developers and businesses alike. Buying commercial development property outright is neither feasible nor, in many cases, desirable, for a startup business or one that is just undertaking an expansion, so securing advantageous commercial leases that […]
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Do Small businesses need NDAs to stay safe?
Small business NDA’s come up a lot at our firm. NDA stands for Non-Disclosure Agreement. It is a legal document entered into between two or more parties that outlines confidential information about the parties shared within the contract and restricts either party from disclosing the same to third parties.
Sensitive or confidential information includes information like manufacturing processes, secret recipes, formulae, innovative ideas, client lists, sales contracts, etc. It doesn’t include such information, which is or should be out there in the public domain.
There are many instances when business owners (big or small), need to discuss sensitive trade information
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