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 […]

Best tax shelters for 2017

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

Will this be the year that you reduce or eliminate your federal income taxes? I help reduce taxes for clients with income income ranging from $50,000 to $4,300,000. There are plenty of legal and well-proven tax shelters available to taxpayers in every category. The top ten most common tax avoidance strategies are covered here. Tax […]

When is it worthwhile to challenge a tax demand?

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

Is it worthwhile for a taxpayer to dispute a demand from the IRS or state tax authority for additional tax payment?  Does the expected savings resulting from a tax case justify the cost of the dispute process? The answer, we might suspect, it that “it  depends”. It depends on the type of demand, the amount and the dispute process that is […]

Who pays more, who pays less under 2017 tax reforms

Posted Leave a commentPosted in self-employed, Tax Planning

Federal income tax changes are likely in early 2017 under a new Republican-led government. While we do not know all the details yet, it seems that we can formulate a few basic trends common to the Trump and Ryan tax reform plans. There is a strong reason to believe that the following tax reform proposals […]

What they don’t tell you about Office 365 for Business Premier

Posted 2 CommentsPosted in Computers and Internet, self-employed, Small Business

In September 2016 Microsoft improved the features its flagship Office platform offering for business clients. The reviews are impressive. I was having trouble with my Google for Work account at that time that I wrote about in another blog post. Microsoft Office is the platform of choice for the majority of financial service firms and nonprofit […]