The most important tax tip of the year

Posted Leave a commentPosted in Accounting, self-employed, Small Business, Tax Planning, Taxes

Take advantage of the most generous part of the Tax Cuts and Jobs Act, known as Section 199A by; 1) Exploring whether your business CAN benefit, and 2) Settling protocol to make sure that your business DOES qualify based on the 184 pages of proposed regulations just released this month. The important thing is to […]

The Tax Savings Blog is moving toward podcast format

Posted Leave a commentPosted in self-employed, Small Business, Social Media, Tax Planning, technoogy

I’ve toyed with “multi-media” formats for several years, not really knowing what this term means, what my goals are, and how to make a plan to get there. The NJCPA offered their studio and produced a few segments and I’ve tried Facebook Live, YouTube and Vimeo. This week I’m moving forward with podcasting with more […]

Standardized basic pricing for QuickBooks

Posted 1 CommentPosted in Accounting, QuckBooks, self-employed

This post explains my new standardized pricing for my QuickBooks services starting at $20 or $50 per month. This blog post of QuickBooks pricing pertains to small businesses or self-employed clients who are described by one of these five categories: Do not have an automated bookkeeping system Are self-employed, have part-time ‘gig’ work or run […]

Who benefits the most from tax planning?

Posted Leave a commentPosted in Law firm, Retirement, self-employed, Tax Planning

Our tax laws provide more opportunity to some people than others. I find that some people can save tens of thousands of dollars with little effort through active tax planning while others might save only a thousand dollars or so. Obviously these high impact people are the ones that tax planners like me want to […]

First five strategies to deal with the new tax law

Posted Leave a commentPosted in Financial Planning, self-employed, Tax Planning, Taxes

My action plan for bringing actionable information to clients as soon as the tax bill becomes law. Update December 31, 2017: Major parts of the law become effective tomorrow. I’ve moved past most of the preliminary points in this article and am now focused on the actions that can make the most immediate impact on […]

Facebook Live: “30 Minutes to Faster, Easier, Cheaper Small Business Accounting”

Posted Leave a commentPosted in Accounting, self-employed, Small Business, Tax Planning, Taxes

Look for online announcements of upcoming presentations. I will be hosting a series of free, short, fast-paced online programs for small business owners, self-employed folks and part-time freelancers. The intent is to help us prepare to save time and money on tax accounting in 2018. It will be Facebook Live presentation with the ability to […]

The coming revolution in small business health plans

Posted Leave a commentPosted in Affordable Care Act, Health Insurance, self-employed, Small Business

The most dramatic change in small business health plans is expected be introduced by the Trump administration later this week. By relying on executive branch power rather than congressional lawmaking, the administration can effectively revolutionize small business health plans. How is this possible? Isn’t health insurance controlled by state law? Yes but the biggest deterrent […]

Estimating the cost of COBRA coverage

Posted Leave a commentPosted in Financial Planning, Health Insurance, self-employed

Yesterday I took a telephone call from a woman who planned to leave her job soon to start a business. She needs to estimate the cost of COBRA health coverage to compare to her other options. This is a simple but important step in planning to launch a business. We presume that most people know […]

Support for Turbotax users

Posted Leave a commentPosted in Accounting, Financial Planning, self-employed, Tax Planning, Taxes

For many years I’ve promoted the concept that most people should be able to file their own tax return without outside help. In cases where the taxes are based on salaried income, investment income and other well-documented sources, it makes sense to file your own taxes online and the process can be completed in less time […]