An accounting niche opposite the AICPA trend

Posted Leave a commentPosted in Accounting, Financial Planning, Small Business, Wealth Management

An advertisement by a top-qualify national information publishing firm joined up with a prominent AICPA event to deliver an educational program designed to prepare CPA firms for imminent change. The bullet points describing the course content are: End-to-end, automated cloud-based tax preparation AI-enhanced, highly intuitive tax research A cloud-driven, Integrated Audit Approach that focuses on […]

Ten million people with tax debt can still move forward with a normal financial and personal life

Posted Leave a commentPosted in Accounting, Financial Planning, Taxes

Millions of Americans are saddled with tax debt that prevents them from moving financially. That financial struggle impacts other aspects of life including mental and physical health and relationships. I’ve observed that the key to resolving these problems – even when they seem insurmountable in the beginning – is to establish a supportive professional relationship […]

Tax filing trends indicate future direction for professionals

Posted Leave a commentPosted in Financial Planning, IRS, Tax Planning, Taxes

We are only half way through the tax filing season but so far the IRS reports that tax filer behaviors are significantly different than a year ago. The number of tax returns filed has dropped by more than 12% and the number of paid preparer returns (often including the more complicated tax returns) dropped even […]

Continuing the tax planning conversation

Posted Leave a commentPosted in Financial Planning, Retirement, Tax Planning

A big part of the tax and financial planning conversation I’m having lately with local upper middle class people my age and older is questioning the wisdom of keeping multiple houses especially those big vacation places at the Jersey shore. (Some have houses and condos elsewhere but shore houses seem to dominate life for many […]

Forecasts are not political opinions or endorsements

Posted Leave a commentPosted in Financial Planning, Leadership

A financial planner’s success in fields like taxes, healthcare planning and investments revolves around the ability to make accurate forecasts about future events. The ability to identify and analyze trends is the key to profitability. Success in forecasting is required if the expected result is to exceed industry average performance. I find that accurate forecasting […]

Getting started toward sanity in divorce planning

Posted Leave a commentPosted in Divorce, Financial Planning, Tax Planning

Getting tax and financial advice during a divorce does not need to be a complicated, expensive or difficult process. Over the years, I’ve noticed that taking the first step toward a logical approach toward tax and financial planning during a divorce is the most difficult. Yes, it is usually a long and usually painful process […]

2019 in employee benefits: by the numbers

Posted Leave a commentPosted in Employee Benefits, Financial Planning, Tax Planning

These are the numbers we commonly use in planning this year’s tax free employee benefits: 401(k) pre-tax contribution limits = $19,000 401(k) catch-up contribution limit = $6,000 IRA contribution limits = $6,000 Annual Health Savings Account contribution limit for individuals = $3,500 Health Savings Account contribution limit for family coverage = $7,000 High Deductible Health […]

2019 Tax Planning and Support Tools Available

Posted Leave a commentPosted in Financial Planning, IRS, Tax Planning, Taxes

Through our 2019 license agreement with CFS Software, we offer a large number of support forms and estimated tax calculators. If you would benefit from a demonstration of the powers of any of these functions or planning calculations, please let us know. General Utilities and Retirement Calculations: 5 Year Federal/State Tax Planner After-Tax Loan Refinance […]