estimating defined benefit contributions

Posted Leave a commentPosted in Computers and Internet, Employee Benefits, Financial Planning, Small Business, Tax Planning

I was impressed by estimator for maximum defined benefit contribution. The proposal it generates is simple. The discussion that must accompany the planning for this type of strategy is not simple. I know most people who consider a new pension plan are largely unaware of the risks, cost and potential downsides. So A tool […]

Surprise announcement by DOL affects small business health care planning

Posted 1 CommentPosted in Accounting, Small Business, Tax Planning

I didn’t see this one coming either: A small business employer who gives an employee money to help pay for the cost of Obamacare under any circumstances is considered to have set up an illegal group benefit plan that may trigger penalties under the Affordable Care Act. The warning is titled “FAQs about Affordable Care […]

Tax planning engagement letter for individual clients (revised)

Posted 1 CommentPosted in Accounting, Financial Planning, Small Business, Tax Planning

Update in September 2015: I am no longer using this letter. The new version is shorter, more segmented, and is in a format intended to be delivered by email and not on paper or PDF. The collaboration section is now simplified and changed. I am working on updating and expanding my tax planning engagement letter for […]

Dealing with a new Freedom Benefits trademark scam

Posted 1 CommentPosted in Small Business, Social Media

Internet scams are nothing new. We face all kinds today. Successful business brands face a unique type of scamming from people who want to capitalize from the good will and organic web traffic that a popular business or product name generates. Each year I find the need to defend against a handful of these problems. Some […]

Americans are baffled by health insurance elections

Posted Leave a commentPosted in Employee Benefits, Small Business

149 million people representing 55% of working Americans are covered by employer sponsored health insurance plans. Yet the large majority have no access to advice or information other than provided by the employer, the company selling the insurance or the company handling the enrollment. As a result, many employees choose inefficient coverage options and a significant number elect […]

Rolling back the clock to reconsider a financial mistake: the Sandy recovery saga of Money Island Marina

Posted 3 CommentsPosted in Small Business

This past weekend we rolled back our clocks by an hour.  The concept triggered me to wish I that I could roll back my own clock by two years. On this weekend, two years ago, the residents of New Jersey’s Delaware Bay shores faced substantial damage to our homes and businesses from Sandy storm that […]

Avoid C corporations with high tax rates

Posted Leave a commentPosted in Financial Planning, Small Business

U.S. corporate income tax rates are the highest in the world. Most incorporated businesses pay 35% before their owners ever see a dollar of return on investment. The morale of the story for small business owners: consider using a regular corporate form (called a “C corporation”) for other planning business purposes but tax strategy is usually […]

Post-Sandy Government Shame List

Posted 3 CommentsPosted in Accounting, News and Politics, Small Business

In the two years since Sandy, I have found myself on the front line of an unfortunate number of unjustifiable actions taken by government against my small business clients and neighbors in the bayshore region of South Jersey. This list compiles ten of the most terrible government actions taken in the two years since Sandy. New […]

New CPA Office Makes a Value Offer for 2014 Tax Preparation

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

I am pleased to announce the launch my tax return preparation practice for the 2014 tax season. I am prepared with the most advanced software, qualified support staff and ready to handle electronic filing for all types of individual and small business tax returns anywhere in the U.S. In order to reduce the risk that […]