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Building Business for a Strong Community

Tuesday, December 10th, 2024

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News and Information

The Cybersecurity Blind Spot: How Hackers Exploit Small Vendors to Target Big Companies

Article by CBIZ

12.06.2024


When it comes to cybersecurity for businesses, size doesn’t matter in the way most would think. It’s not about how big a company is — it’s about how big their customers are. If a smaller organization processes sensitive data for large organizations, it is expected to protect that data with the same level of security as its biggest clients.

The Misconception: We’re Too Small to Be a Target

Many small businesses mistakenly believe they’re not on a hacker’s radar because of their size. They think, for example, “Why would anyone attack us when they could go after giants like Pfizer or major banks?” The reality is most cyberattacks are not specifically targeted — they are opportunistic.


Hackers often use automated tools to scan the internet for vulnerabilities in any public-facing system, regardless of the company’s size. They send thousands of emails to random email addresses they have gathered on the dark web. Its only after they gain access that they understand who they have compromised. For smaller companies, they investigate who the breached company works with, and that’s where the bigger fish come into play.



Just like law enforcement climbing the chain to catch a kingpin, hackers exploit weaker links in the supply chain to reach their ultimate targets. In fact, more than 50% of breaches occur through third parties. If hackers want to breach a company like Pfizer, breaking into a smaller vendor’s system is often the easiest and most effective route.

Read More Here

What Nonprofit Leaders Need to Know About Excise Tax to Avoid Penalties

Article by DMJPS

11.06.2024


Nonprofit leaders face great responsibility, especially when understanding the legal and tax requirements involved in managing a tax-exempt organization. Specifically, nonprofit leaders need to understand excise tax related to nonprofits to avoid potential fines, penalties, and other compliance issues.


Understanding Excise Tax for Nonprofits


What exactly is excise tax and how does it affect nonprofit organizations? Specifically, excise taxes are taxes imposed on goods, services, or activities as a means of ensuring that providers are adhering to certain standards. Tax-exempt organizations can be assessed excise tax on several types of transactions, including excess benefits.


Excise Taxes and Disqualified Persons


Important for nonprofit leaders to be aware when it comes to excise taxes is that so-called “disqualified persons” (also commonly referred to as “insiders”) can receive excess benefit transactions that ultimately exceed the amount of value they offer to the organization. When this occurs, the IRS imposes an excise tax of 25% on the excess benefit itself. Unfortunately, this 25% tax can add up very quickly and could end up getting nonprofit leaders into a lot of trouble from a compliance standpoint.

Read More Here
Events

Ribbon Cutting

Wednesday, December 11th

4:00 PM - 6:00 PM


One Health Park Drive,

Hendersonville


*Parking at AdventHealth Hospital*

Register Here

Ribbon Cutting

Thursday, December 12th

3:00 PM - 5:00 PM


404 7th Ave E,

Hendersonville

Register Here

Ribbon Cutting

Tuesday, December 17th

11:00 AM - 12:00 PM


4110 Hendersonville Rd #50,

Hendersonville

Register Here

Pitch Party - Pitchmas

Tuesday, December 10th

5:00 PM - 7:00 PM


Southern Appalachian Brewery

822 Locust St, Hendersonville

Register Here

Business Morning Update

Wednesday, December 11th

7:45 AM - 9:00 AM


Elk's Lodge

546 N Justice St, Hendersonville

Register Here

Young Professionals Social

Wednesday, December 11th

5:00 PM - 6:30 PM


Dry Falls Brewing Co

425 Kanuga Rd, Hendersonville

Register Here

AM Power Hour

Thursday, December 12th

8:00 AM - 9:00 AM


AdventHealth with The Storehouse at Living Water Baptist Church

1284 Sugarloaf Rd, Hendersonville

Register Here
View All Upcoming Events

Thank you November All-in-for-Hendo Contributors


Member News



Have something to include in Member News? Please send information on upcoming events, announcements, and other news your business would like to share with fellow members to: chamber@hendersoncountychamber.org

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Henderson County Chamber of Commerce
204 Kanuga Road, Hendersonville, NC 27839
828.692.1413