Text messaging for income tax filing

Posted Leave a commentPosted in Computers and Internet, Security, Taxes

We notice that a growing portion of our tax clients prefer to communicate by text message over other methods like live in-person, telephone, fax, email, and video call. It is clear that texting is the #1 tax communication method now, exceeding the combined use of all other methods. The IRS and state tax authorities do […]

Tax filing trends indicate future direction for professionals

Posted Leave a commentPosted in Financial Planning, IRS, Tax Planning, Taxes

We are only half way through the tax filing season but so far the IRS reports that tax filer behaviors are significantly different than a year ago. The number of tax returns filed has dropped by more than 12% and the number of paid preparer returns (often including the more complicated tax returns) dropped even […]

Strippers draw attention to changing tax law

Posted Leave a commentPosted in payroll, Small Business, Taxes

Who would have guessed that strippers would be on the cutting edge of changing tax law? The laws that distinguish between contractors and employees are changing in some states. California’s strippers are in the spotlight. Yesterday strippers protested the new state law in San Diego. They like the independence of being classified as contractors yet […]

Continuing the tax planning conversation

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

A big part of the tax and financial planning conversation I’m having lately with local upper middle class people my age and older is questioning the wisdom of keeping multiple houses especially those big vacation places at the Jersey shore. (Some have houses and condos elsewhere but shore houses seem to dominate life for many […]

New Jersey payroll services

Posted Leave a commentPosted in payroll, Small Business

I offer these small business payroll services in New Jersey: Weekly, bi-weekly, monthly, twice a month, or as manually requested payroll schedule New Jersey Employer Report of Wages Paid (NJ WR-30) New Jersey Employer’s Quarterly Report (NJ-927) New Jersey Employer’s Quarterly Report for Weekly Filers (NJ-927W) New Jersey Submitter Form NJ-ERW2-S New Jersey Annual Withholding […]

Break down the tax filing process

Posted Leave a commentPosted in Accounting, Taxes

Any complex task is easier when broken down into small pieces. Tax filing is no different. While there are plenty of different options, we break it down and pull out the best methods. Ways to collect information: BEST: Cell phone scanner with tax organizer OK: Flatbed scanner batch documents ALTERNATE: Photos or papers Ways to […]

Predicting success of small business crowdfunding campaigns

Posted Leave a commentPosted in Crowdfunding, Small Business

The ability to forecast success of a proposed crowdfunding campaign is becoming more important in the practice of advising small businesses today in both the for-profit and nonprofit sectors. I spend an increasing portion of my available reading time on this topic, including a book on my iPad right now “Social Startup Success” by Kathleen […]

Why are tax writers missing the #1 tax-saving opportunity?

Posted Leave a commentPosted in Small Business, Tax Planning

“The perfect tax plan or tax shelter, if such a thing exists, would allow us to do most or all of these things: receive or gain control money without paying taxes, take a tax deduction for the amount invested, allow that money to grow and accumulate without paying taxes, and then allow us to disperse, […]

What’s up with QuickBooks?

Posted Leave a commentPosted in Accounting, QuckBooks

Intuit Corporation’s QuickBooks product is easily the most popular small business accounting platform in the nation. This popularity carries through to my law firm market niche where most use some type of QuickBooks platform to connect various components of financial management. Most of these users are converting from older desktop software to more modern hosted […]