Blogging that doesn’t work

Posted Leave a commentPosted in Marketing, Small Business

Accountant blogging doesn’t bring new clients but is useful for other reasons. We often read that business blogs are supposed to help with business marketing. They can build brand identity, familiarity, goodwill, and confidence. My marketing adviser calls this the “know, like, trust factor”. But read more and you’ll learn that technical advice blogs provided […]

Simplify the business of life

Posted Leave a commentPosted in Accounting, Employee Benefits, payroll, Small Business, Taxes

This blog title is a slogan used by the world’s most popular personal and small business software maker. For my purposes as an adviser, I’m using it here to refer to the accounting for essential financial transactions between an employer and employee: payroll, taxes and employee benefits. Small businesses have wide latitude in some areas of […]

Three changes to small business health plans for 2019

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

Small business employers who choose to offer health benefits to employees will find more options available in 2019 under rules proposed late last year for adaptation this year. The IRS and Treasury Department clarified that employers who meet other conditions will be allowed to offer reimbursement of individual health insurance on a tax-free basis. These […]

Five economic forecasts for small business in 2019

Posted Leave a commentPosted in Affordable Care Act, Climate change, government, Investment, Small Business, Tax Planning

A decade ago I probably would have said that there is little value to a small business adviser in attempting macroeconomic and political forecasts. But over this most recent decade I’ve watched shifting macroeconomic conditions wipe out over two million dollars of personal net worth and put one of my businesses into idle for over […]

Small business payroll fees for 2019

Posted Leave a commentPosted in Accounting, Employee Benefits, payroll, Small Business

I’m sending this email message to my smallest business payroll clients: In planning for 2019 services, I’ve noticed that payroll processing fees have risen sharply for me. This seems to be an industry trend apparently related to spreading out the cost of state and local tax compliance issues for some companies but doesn’t otherwise affect […]

Employee vs. Independent Contractor: protecting the small business employer

Posted Leave a commentPosted in Small Business, Taxes

The question of independent contractor or an employee has long been a concern to small businesses. The IRS has changed its guidance significantly over the decades of my career. The most current IRS guidance is perhaps the most complex and subject to interpretation. In the small business world, classification as an independent contractor often result […]

Support for NJ minimum wage bill

Posted Leave a commentPosted in government, New Jersey, News and Politics, Small Business

I took time this morning to write to the nine members of the NJ Assembly Labor Committee plus our own two Assemblymen and a local Chamber of Commerce that opposes the minimum wage bill (A-15, Coughlin), right now. I hope that some of its small business member can see the light. I’ve personally been a […]

How to upgrade your small business payroll in 3 easy steps

Posted Leave a commentPosted in payroll, QuckBooks, Small Business

How to upgrade your small business payroll in 3 easy steps: Download and sign service agreement from tonynovak.com/payroll. If you have prior payroll this year, get a copy of the Year-To-Date reports. Upload these to the secure portal here. THAT’S IT! We’ll take it from there. At lease one phone call will be necessary to […]

Full service payroll now at $26.50 per week!?

Posted 1 CommentPosted in Accounting, Small Business, Taxes

Update: After this blog post was published the fees that payroll processors charge small businesses rose several times so that the fee is now actually about $26.50 per week for 2019. The pricing information below is now obsolete. The key to value is in the service performance agreement.  I frequently promote the benefits of full service cloud-based […]

Use of trade name triggers 24% backup withholding

Posted Leave a commentPosted in Accounting, Small Business, Taxes

A nonprofit company received notice from the IRS that it is to withhold 24% of the total on future payments to one of its major vendors as “backup withholding. Neither the vendor nor the nonprofit was happy with this burden! It turns out that even though the Taxpayer Identification Number was correct on the Form […]