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 […]

Three QuickBooks insights

Posted Leave a commentPosted in Accounting, Small Business

Intuit is the world’s leading publisher of tax and accounting software. The company offers both self-serve and professionally assisted platforms. These published insights are useful: 1. QuickBooks dominates QuickBooks is used by 82% of small businesses that use accounting software. The market dominance speaks for itself, 2. Small business prefer getting help Nine out of […]

Make small business payroll service pay for itself

Posted Leave a commentPosted in Accounting, payroll, Small Business, Tax Planning

Recently I published a series of short blog posts on the topic of payroll processing for small businesses. In summary, I’ve suggested that today’s automated payroll services are a fantastic value but that coördination and oversight by a small business compensation professional helps avoid problems and penalties that stem from miscommunication. I’ve suggested that the […]

What small employers need to know about New Jersey’s sick leave law

Posted Leave a commentPosted in New Jersey, Small Business, Taxes

Update June 21: My friends at Workplace offered to extend an invitation to those in the Philadelphia region to a seminar at Tavistock Country Club in Haddonfield NJ on Wednesday July 18th at 8am. Find more information at this Facebook event  or register online here. New Jersey just passed a sick leave law that affects […]

HRA for spouse of business owner?

Posted Leave a commentPosted in Affordable Care Act, Employee Benefits, Health Insurance, Small Business

Can a business with only one employee – the spouse of the sole proprietor – be eligible for a Health Reimbursement Arrangement? I can not give that assurance but at least one popular tax speaker says that he can and you are welcome to rely on that advice. In this situation, I would prefer to […]

Does blogging work?

Posted Leave a commentPosted in Computers and Internet, Small Business, Social Media, Writing

Last evening I appeared on a short segment on the NBC national news. The story was rebroadcast on this morning’s Today Show. After these brief TV appearances I received a bunch of phone calls, emails and messages asking how this came about. In fact, it was just an odd random event in my patchwork schedule […]

Small business part time help matchmaker project

Posted Leave a commentPosted in Accounting, Small Business

I’ve noticed that my businesses and other local businesses are having a tougher time finding workers for occasional projects so I started a project yesterday in an attempt to address the issue. The goal is to meet more people who are looking for various types of work and assess their interests, skills and availability. Then […]

Head’s Up on New Pennsylvania Charity Reporting Requirements

Posted Leave a commentPosted in Accounting, nonprofit, Small Business

Executive Summary: Smaller Pennsylvania charities face revised state requirements for their submitted financial statements that may require additional advance planning. May 16, 2018 is the IRS filing deadline for filing 2017 information with the federal government for most nonprofit organizations. Some organizations haven’t had a need to focus on the details of recent legal changes affecting […]

Questions about a QSEHRA?

Posted Leave a commentPosted in Health Insurance, payroll, Small Business, Taxes

Yesterday I was hired for a single consultation engagement for a small business in Silicon Valley to answer a few simple questions about setting up a Qualified Small Employer Health Reimbursement Arrangement (QSEHRA). This is a simple, low cost and highly effective way for a small business to save money on employee health costs in […]