Month: February 2015
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More on disappearance of book-to-tax accounting feature
I’ve been involved in some online discussions as to why Intuit apparently introduced this book-to-tax feature after I completed my tax filing last year but then removed the feature when I needed it this year! Intuit gave no explanation either online or when I called except to sat that it will be re-introduced after the…
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How to fix your small business 401(k)
This week President Obama’s administration gave a strong endorsement of the Department of Labor’s plan to impose fiduciary obligations on investment brokers and advisors working with retirement plans. The controversial proposal is based on a belief that new rules are a needed consumer protection to prevent billions in costs due to bad advice. Most consumer advocates…
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Why Freedom Benefits opposes Obama’s retail investing reform
Today’s Wall Street Journal carries a sharp criticism of President Obama’s plan to reform retail investing. The piece called “Obama vs. Savers” highlights the restrictions that the proposal will place on investors. Since Freedom Benefits is focused on consumer education and charges neither commissions nor asset-based investment management fees, you would think that we support…
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No tax penalties for Healthcare.gov customers given wrong information
Yesterday the Department of Treasury issued a press release saying that the IRS announced that it will not penalize taxpayers who filed taxes based on incorrect reporting information from the federal health insurance exchange. That’s mighty kind of them.
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ACA – The law that really wasn’t
The Affordable Care Act (ACA) of 2010 really hasn’t had any significant impact on individuals and small businesses despite the volumes of information, rhetoric and threats of penalties for non-compliance. Today the Obama administration extended the individual health insurance enrollment deadline (again) regarding the individual mandate. Last week they postponed the effective deadline for small business…
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New York Life continues its growth trek
New York Life Insurance Company continues to grow in the middle-income financial services market by focusing on serving women and culturally diverse communities. The company reports that the number of active sales agents has grown by 24 percent since 2007. New York Life hired 3,680 agents last year and intends to hire an additional 3,600…
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Why I am furious with QuickBooks right now
A copy of an email advertisement for Book-to-tax feature. Intuit is fond of asking me frequently if I am satisfied with their QuickBooks product and would be willing to recommend their product to others. I’ve used it for 20+ years and have been a long-time QuickBooks ProAdviser. I’ve always been clear that my loyalty is due…