CPA Tax Rates for 2015

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

Until now, I have used negotiated flat fees for all accounting services – including tax services – under an approach commonly called “value pricing”. These fees should have some reasonable basis and market rate or competitive pricing may be one input into this basis of pricing. We presume that there is social value in having consumers […]

What I learned this week ending 12/6/2014

Posted Leave a commentPosted in News and Politics, Small Business, Tax Planning

Local issues I learned that the weapon cache firepower of my South Jersey neighbors greatly exceeds the weapons cache of our local police forces. There was never much cause to think about this issue in the past but with all the talk about riots this week… It looks increasingly like something is not right with […]

estimating defined benefit contributions

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

I was impressed by onepersonplus-for-db.com 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 […]

How I inadvertently contributed to incorrect tax treatment of HRAs

Posted Leave a commentPosted in Accounting, Employee Benefits, Tax Planning

Imagine that you are a mechanic and someone walks into your shop and asks you to put wings on his Honda Civic. You might say, “That’s silly, Civic’s don’t fly” and dismiss the request. Then three more owners walk in with the same question. You think about it some more and say “Well, it might look […]

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 […]

Disagreements about taxation of individual health insurance in 2014

Posted 1 CommentPosted in Accounting, Employee Benefits, Tax Planning

It seems that the most confusing tax topic this year in the wake of the Affordable Care Act implementation is the taxation of individual health insurance when an employer is involved in the payment of the cost. No doubt other confusing issues are still on the horizon, but this one is here and now. Small business […]

Tax planning: keep priorities in focus to ensure success

Posted Leave a commentPosted in Accounting, Financial Planning, Tax Planning

“When a CPA simply files your tax return and doesn’t provide strategic tax planning or advice, you may not be getting your money’s worth.” – Forbes I couldn’t agree more. Unfortunately, far too often our priorities get buried in the pace of business today. Financial planning is muddled, tax planning opportunities are missed, and tax return […]

Investing an inheritance

Posted Leave a commentPosted in Financial Planning, Tax Planning

Yesterday I handled a consumer question about investing an inheritance and published the Q&A after-the-fact. The amount of money being passed to the baby boomer generation is phenomenal and it is a huge impact on many people’s lifetime financial success. One recent study by the Bureau of Labor and Statistics indicated almost 1 in 3  American households […]