A simple view of the 20% pass through deduction

Posted Leave a commentPosted in IRS, Small Business, Taxes

A business friend asked a simple question online: “What doe the pass-through deduction mean to me?” The collective response was so vague and convoluted that I felt sorry for her for asking. After thinking about it, there are two things that are uncertain and one that is certain about the pass-through deduction that directly address […]

Review of Lenovo T580 ThinkPad laptop for tax practice

Posted Leave a commentPosted in Computers and Internet

Last month I purchased a T580 ThinkPad Laptop Machine Type Model 20L9CTO1WW, directly from Lenovo at a price of about $1,500 as customized, with tax and delivered. The machine is meant to be my primary accounting practice machine. This is my first ThinkPad after about 20 years of using comparable but less expensive primarily HP […]

Tax Reform 2.0 update

Posted Leave a commentPosted in News and Politics, Taxes

This is a bullet point overview of the “Protecting Family and Small Business Tax Cuts Act of 2018” (HR 6760), the “Family Savings Act of 2018” (HR 6757) and the “American Innovation Act” (HR 6756), that are collectively referred to as “Tax Reform 2.0” as passed by the House of Representatives on September 27-28, 2018. […]

New Jersey real estate tax credit program made simple

Posted Leave a commentPosted in New Jersey, Real Estate, Taxes

This post attempts to list in simplified wording what we know and what we don’t know about New Jersey’s new real estate tax credit program. What we know: 1. In May of 2018 the tax credit program became law, even though most details of its operation were missing. 2. The program allows taxpayers to take […]

Which version of QuickBooks is right for your business?

Posted Leave a commentPosted in Accounting

Sometimes it is useful or necessary to provide a long explanation to a simple answer. I find that is often the case when recommending an accounting system to a small business owner. The best answer for most small businesses is simple and clear. The explanation is often far more complicated. The takeaway: Most small businesses […]

PDF document handling in 2018

Posted Leave a commentPosted in Computers and Internet, Taxes, technoogy

The Internal Revenue Service, state revenue departments and many other branches of government and industry rely heavily on the Portable Document File (PDF) format handling electronic documents. It follows then, that a tax professional needs to be up-to-date in handling PDFs with maximum security and efficiency. According to Wikipedia, the Portable Document Format (PDF) is a […]

Followup on false complaint by Commonwealth of Pennsylvania Office of General Counsel

Posted Leave a commentPosted in Accounting

I posted a message here a few months ago after being notified by a Pennsylvania government investigator that an employee of the Pennsylvania Board of Certified Public Accountants accused me of practicing public accounting without a license. I was told that I did not have the right to know the nature of the accusation, the […]