“Wall Street trained / Main Street Hardened”

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8 thoughts on ““Wall Street trained / Main Street Hardened”

  1. Took interest in your comment/article on TonyNovak.com with regard to Pennsylvania’s aggressive treatment of unreimbursed business expenses and the 100% audit trigger. Question- have you seen any evidence that taking the deduction (and the subsequent audit) triggers the DOR to “look back” at prior returns and audit those as well?

    1. Hi Ed: No, I haven’t seen that look back to prior years.
      But it seems that the state’s effort was pretty effective. The preparers I chat with are scared to take the deduction now.

  2. I’m lucky to work with Tony Novak, he says “not business as usual” and I Can see that right off the bat!!

    He is a problem solver!! That’s what is not usual!! He’s not a robot quoting the tax code, he research everything and find solutions

    I will recommend (and actively doing it) Tony as a real problem solver

    Keep up the good work Tony!

  3. I’ve been trying to get my stimulus payment for 2 tax seasons now. The tax person I used didn’t do it last year after I asked her to.. is there the it’s site says I have to file a 1040 2021 how do I do that the taxes were done. Is there anything you can do to help? I’m starting a real estate business I’ll need guidance with.

    1. Hi Joe, thanks for your comment. Yes, those who did not receive a stimulus payment rightly feel frustrated;that the system is unfair and broken. We know this. The problem is solvable, but at what cost? It’s hardly enough money at stake to hire a tax resolution professional. The more effective approach is to push less, not using more money, and it will resolve through the resources available on IRS web site https://www.irs.gov/coronavirus/get-my-payment. Besides, if you are starting a real estate business then you will have plenty of larger and more important issues that require your focus to ensure success. Save your time and energy for that focus.

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