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Bank Roll

Most small-business owners stash their cash in a bank checking account that’s federally insured by the Federal Deposit Insurance Corporation (FDIC). But deregulation allowed banks to offer depositors more than simple checking or savings accounts. They can also offer bank-sponsored investment accounts such as mutual funds, stocks and bonds. But beware. Those investment accounts aren’t covered by federal insurance. They carry risks – the same risks you face when you open an investment account with any other brokerage firm.

Illegal Workers

A recent online poll conducted by the National Association for the Self-Employed (NASE) found that 75 percent of micro-business owners see illegal immigration as a serious issue – for their businesses and the nation. “An important issue for micro-businesses owners is when they need to expand, they must also compete against businesses that use undocumented workers in their workforce,” explains NASE lead business consultant Gene Fairbrother. “This can often mean that those who do use illegal immigrants and do not have to deal with employee rights put the business that follows the law at a disadvantage because of additional tax costs.” Fairbrother suggests a number of ways that micro-business owners can ensure that they don’t hire illegal immigrants:

• During the interview process, make it clear to all applicants that you follow state and federal guidelines in hiring

• Use I-9 forms, which require proper identification

• Make copies of identification (driver’s license, Social Security card and resident alien authorization identification)

• Do background checks on all employees chosen for hire

• Follow federal and state guidelines to report all new employees on the state registration systems

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