Author: Tony Novak
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New Jersey payroll services
I offer these small business payroll services in New Jersey: Weekly, bi-weekly, monthly, twice a month, or as manually requested payroll schedule New Jersey Employer Report of Wages Paid (NJ WR-30) New Jersey Employer’s Quarterly Report (NJ-927) New Jersey Employer’s Quarterly Report for Weekly Filers (NJ-927W) New Jersey Submitter Form NJ-ERW2-S New Jersey Annual Withholding…
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Break down the tax filing process
Any complex task is easier when broken down into small pieces. Tax filing is no different. While there are plenty of different options, we break it down and pull out the best methods. Ways to collect information: BEST: Cell phone scanner with tax organizer OK: Flatbed scanner batch documents ALTERNATE: Photos or papers Ways to…
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Predicting success of small business crowdfunding campaigns
The ability to forecast success of a proposed crowdfunding campaign is becoming more important in the practice of advising small businesses today in both the for-profit and nonprofit sectors. I spend an increasing portion of my available reading time on this topic, including a book on my iPad right now “Social Startup Success” by Kathleen…
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Why are tax writers missing the #1 tax-saving opportunity?
“The perfect tax plan or tax shelter, if such a thing exists, would allow us to do most or all of these things: receive or gain control money without paying taxes, take a tax deduction for the amount invested, allow that money to grow and accumulate without paying taxes, and then allow us to disperse,…
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What’s up with QuickBooks?
Intuit Corporation’s QuickBooks product is easily the most popular small business accounting platform in the nation. This popularity carries through to my law firm market niche where most use some type of QuickBooks platform to connect various components of financial management. Most of these users are converting from older desktop software to more modern hosted…
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Does Pennsylvania sales tax apply?
The best official publication for determining if sales and use tax applies is this “Retailer’s Information” guide from the Commonwealth. For help setting up sales tax in QuickBooks Online, just call for on site or remote setup help or for help setting up desktop version see this article by Charlie Russell.
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QuickBooks Online for law firms
Intuit corporation will release record high earnings this week that surpass stock market analysts’ expectations. The driving force is the success of QuickBooks Online, a product used by almost 4 million small businesses. The number of businesses subscribing to QuickBooks Online is growing quickly as businesses move from the desktop version, just as management predicted.…
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Federal income taxes for farmers and fishermen
Most businesses are subject to quarterly estimated tax payment requirements. A failure to make these required payments on time results in a penalty. The final estimated tax payment deadline for the prior calendar year is January 15 of the current year. Many small businesses, struggling to keep up with government paperwork demands, miss the deadline…
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Five types of tax shelters
There are five categories of tax shelters that benefit many individual U.S. taxpayers and account for most of the tax savings available to us. Four of those categories of tax shelters are potentially on the chopping block this month with Congressional tax reform discussions. This post is simply a brief overview of the five categories…
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A business cannot deduct personal auto expense
Again today a business owner asked me to deduct his auto mileage expense on his business tax return. That’s not how it works! A partnership, S-Corp or C-Corp generally can not deduct the cost of personal auto expense. There are workarounds but we need to discuss and actually set it up. I covered the topic…