Category: Louisville

Theft in the Sunny Side of Louisville

2nd October

It seems that we’re hearing about another fraud case every week.  The refreshing fact on these recent local stories are that restitution is being made, perpetrators are being held accountable and prosecution is imminent.  It has been a rarity for the victim organization to recover any of the losses in the past.  I welcome this new trend of companies pressing charges in these theft cases.  Most recently there was a young Branch Manager accused of theft at Centra Bank in Scottsburg, IN.  She schemed $63,000 from Centra Bank over the course of 2012 by taking cash from teller drawers and manipulating customer accounts.  I wonder if that position provides too much temptation for a 24 year old.

Read the rest of the story at

Serious Tax Headache or Opportunity to Explain and Repair

Posted by CYAAdmin in Business, IRS, Louisville, Taxes. No Comments

31st August

Are you in the 20,000 businesses that have received IRS Notifications of Possible Income Underreporting in recent months.  Since 2011, the IRS has required payment processors to file 1099-K forms, a record of all credit card transactions on their systems.  I could imagine this would impact many small businesses.   Varying from industry averages and how your business model differs from others in your industry could have you justifying your situation to the IRS just as the companies in this CNN Money article.

I think it depends on which side of compliance you are on, whether you view this as an opportunity or a serious tax headache.

To read the full article, go to

Credit Card Processing Fees

Posted by CYAAdmin in Business, CYA, Louisville, Tips. 3 comments

6th August

Why not use your bank for credit card-processing services?  What you are paying for that convenience, versus shopping around, might surprise you.  Those fees are explained thoroughly in this article from Forbes, as well as some extra perks you might not have considered asking for in your negotiation.  I hope you enjoy it!

Processing Fees

When Yvonne Chu launched Kimera, her Brooklyn, N.Y.-based dress retailer, five years ago, setting up a system to accept her customers’ credit cards was an afterthought. Already armed with a small business card from Capital One, she figured why not use the bank’s credit card-processing services, too? “I needed it in a hurry,” says Chu.

It took a few years, but Chu eventually realized she was leaving real money on the table…..

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