Month: October 2015
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Evaluating a private placement investment
This week I came across a situation where a friend was considering investing in an unregulated private placement deal. The friend is not a “qualified investor” as defined under the law and was probably actually relatively unsophisticated about investment issues. We have a mutual friend, an attorney, who was also unfamiliar with securities law and unable to…
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U.S. Leader Admits Government’s Financial Crimes
“The government has lied to you and they’ve stolen from you” – NJ Governor Chris Christie, former Chairman of the Republican Governors Association, talking about entitlements like Medicare and Social Security during the nationally televised presidential debate in Boulder, Colorado on 10/28/2015 . This is likely as close to an official admission of institutionalized crime and systematic corruption…
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3 Years After Sandy: Where am I Now?
Superstorm Sandy changed my life – that is an understatement. The memories of the tears in the eyes of my tough watermen friends and the sense of panic I felt during the 16 hour work days we put in during the rescue and cleanup period are beginning to fade to the point where they do…
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Email scams about small business accounting
Small business accountants who provide online services report an increase in the number and level of sophistication of various attempted scams presented as business service emails. The emails are typically a purchase confirmation or a request for information about services. I have received a variety of these myself and find it increasingly difficult to separate…
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Initial inquiry about a private pension plan
Last night I received an anonymous post on my web site that says “I am a self-employed… with income of $1 million after deductions. I am looking to find a tax deductible retirement plan that can help me reduce my tax liability. I looked in to IRA and Roth IRAs but my income is too high…
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Year end financial planning starts now!
Early fall is often the best time for small business owners to review their finances and tax strategies. A small investment of time typically pays off in big and almost immediate savings. I am available by telephone or in person to discuss the best ways to: * Cut accounting and compliance costs * Incorporate tax…
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Fall is the best time for financial planning
Early fall is often the best time for small business owners to review their finances and tax strategies. A small investment of time typically pays off in big and almost immediate savings. I am available by telephone or in person to discuss the best ways to: Cut accounting and compliance costs Incorporate tax shelter strategies…
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11 tax traps for small business health plans
The issue starts out innocently enough: a small business employer simply wants to help employees pay for the cost of health care. So the employer voluntary offers to make a payment for that purpose. That’s where the simplicity ends and the tangle of tax laws comes into play. It is far too easy for an employer…
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Retroactive termination of employee benefit plans
Don’t believe everything you read on the Internet! Lately I’ve written that the general rule is that you can not retroactively terminate or amend an employee benefit plan but that under certain circumstances it may be better to do so than not. This is not a topic that lends itself well to a blog post.…