Unclaimed Property: The Stink of Stale Checks

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Many companies have their share of old outstanding checks cluttering their bank reconciliations, and contractors are by no means different. Reasons can range from field laborers not traveling to headquarters to pick up a final paycheck, to vendors not following up on lost checks. Regardless of the reason, stale checks should be monitored to avoid penalties associated with unclaimed property laws.

Given the many moving parts, it is understandable that many small to large contractors do not have a grasp of unclaimed property laws. What state does the contractor report in? What are the deadlines for filing? …read more

Read more here: Construction

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Aronson LLC has been thinking ahead for its clients for more than 50 years. Aronson’s construction, real estate, government contracting, nonprofit, technology and private industry experts provide innovative audit, tax, and consulting services that help its clients move to the next level. From start-up to exit strategy, Aronson works with companies throughout the entire business lifecycle by proactively identifying opportunities and addressing challenges so that clients are able to focus on their core business. Aronson shows companies how to rethink everything to be more profitable, more competitive and better prepared for the future.

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