Month: April 2016
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GEICO auto insurance craziness
Dear GEICO: I’ve been a long time policyholder and yet I plan to cancel my auto insurance coverage soon. But I thought it might be worthwhile to send this note as a final attempt to appeal to some type of business sanity. In theory, I seem to fit the type of customer profile that your company would…
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PA unreimbursed business expense deduction creates an audit risk
For he past few years the Pennsylvania Department of Revenue aggressively audited the tax returns of individuals who took a deduction for unreimbursed employee expenses on Schedule PA-UE. The topic was covered by the Pittsburg Tribune in June 2014. My quick online poll of professional tax preparers last summer indicated that the audit rate was near 100% of…
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Fiduciary rule should raise awareness of more important issues
I have mixed feelings about the new federal push in retail financial market known as the “fiduciary rule”. Depending on the specific facts, there is a strong argument to be made on either side of the issue. One thing that is certain, however, is that the new rule is intended to increase public awareness of the value of…
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Still the Unaffordable Care Act to CPAs
I received this message embedded in an email from a peer CPA this morning: “I am also determined to vote for whoever will work to repeal the unaffordable care act. It has affected everyone on so many levels and no one from the people to the insurance companies to the government knows what they are doing”.…
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CPAs: “from crisis manager to opportunity director”
The theme of this year’s New Jersey CPA convention is changing our primary roles and focus “from crisis manager to opportunity director”. My mantra over the past few years is that CPAs need to be the agents of change for today’s businesses. I’m looking forward to hearing more about what others are doing in this…