Month: December 2015
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Tax preparation fees represent the “wild west” of the financial services industry
We are just three weeks away from the opening of a new tax filing season and so the subject of disclosure of tax preparation fees comes up again. My opinions differ sharply from the mainstream of the tax preparation industry. The tax preparation industry may be the last bastion of “let the buyer beware” free…
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News: 2015 small businesses health plan tax filing extension
This article summarizes the issues that apply to small business employers only. See the IRS publication for provisions of Notice 2016-4 that pertain to larger employers. Small business employers who provide health benefits outside of an insurance policy have a two month extension on reporting those benefits to employees and a three month extension for…
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Year-end tax Scrooge on auto purchase and charitable contributions
We hear plenty of auto sales ads touting the benefits of increased depreciation as a great reason to buy a new car this week. Likewise, charities make a big year-end push this week promoting the tax benefits of charitable contributions. I don’t want to be a spoil-sport and discourage anyone from buying a car or…
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International small business health plans for 2016
New options for avoiding excise taxes on international worker health benefits Small business employers with employees stationed outside of their home country face some difficulties providing medical insurance. In most cases employers have fewer health benefit plan choices available compared to firms with all their employees in the U.S. For 2016 there are several additional options…
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Last minute tax shelter setup for 2015
Every year there are a few small business owners who wait until the last few days of December to set up a retirement plan or pension plan that winds up reducing their tax liability by many thousands of dollars at tax filing time in the spring. It takes a few hours work for each plan…
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More on Section 105 plans
A reader commented on my vague discussion in an earlier post about the difference between an employee benefit plan and a payroll accommodation plan. The first type is regulated and subject to ACA market reforms and the second type is not. Describing the distinctions is not something that I feel could be usefully summarized in a…
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Goadvs.com malware removal
Why I concluded that Goadvs.com malware may be connected to Sitementer.com Last week I found that I was affected (but not necessarily “infected”) with a browser hijacking malware. Occasionally I’ve found that published documentation of a computer bug is inadequate and so, for that reason alone, I am publishing details of my experience here. This…
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Four small business accounting systems you will see less often in 2016
updated September 2018 to remove outdated recommendations. There are literally hundreds of high quality small business accounting platforms available today. The array of features is impressive and the cost is minimal when we consider the number of human labor hours saved in comparison with accounting tools of generations past. All of these services offer a…
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Excited about focus of services for 2016
Note: This service offer does not apply for 2017 and beyond. Please see the “Services” page for current offering details. I feel excited and energized by my planned specialization of services for 2016. I’ve just crossed the one year anniversary mark on the re-launch of my solo accounting practice after being out of the industry for…
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Sample tax planning engagement email
This page is outdated. A more recent version is available: Sample accounting services engagement agreement 2021 Dear : Thank you for choosing me to discuss tax planning. I will work on your behalf to maintain the confidence that you have placed in me. Four sections of this communication are included below to help us get…