Month: February 2017
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Vanguard makes investment decisions easy
I used to make a living as a Registered Investment Adviser and worked with Vanguard Group and other investment management firms. Now I provide generic standardized advice on investments when appropriate in the course of other accounting and financial planning services. My work now does not require a separate government registration as an investment adviser. Why…
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Missing the Meaning of Trump (WSJ editorial)
This editorial published Tuesday titled “Missing the Meaning of Trump” is the most persuasive piece I’ve read in a long while. The author, Holman W. Jenkins Jr. (57) is a member of the Wall Street Journal Editorial Board who grew up in Swarthmore, Pennsylvania (near me). Notable excerpts: “the Donald Trump show is likely to remain,…
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Petty Pennsylvania tax penalty
Tax professionals seem to love sharing bizarre stories of the trade especially when the taxpayer or the government acts in some silly manner. I am no exception. Recently I settled a multi-year complex tax problem for a small business client in Pennsylvania. I figured that, as happened in this case, if I can negotiate a…
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Add impact to ‘Not My President’s Day’
Resolve today to take a strong personal stance to avoid paying federal income taxes. Just make sure to do it safely and legally! On this historic “Not My President’s Day” I am reminded that civil protest has its limitations. Don’t get me wrong; I strongly support and encourage civil protest. Consider the old folk song “Charlie…
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Save money on small business payroll processing by removing bundled fees
A no-load approach to small business payroll In the “old days”, small business payroll services were priced based on a formula that was a bit complex. Factors like frequency of payroll, number of employees, type of pay, benefits, and local taxes all factored into the cost. Year-end ad ancillary services were typically priced separately. To me,…
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The push for release of the president’s tax returns
New Jersey Congressman Bill Pascrell has taken a lead role in pushing Congress to legally obtain a copy of Trump’s tax returns as permitted under Internal Revenue Code section 6103(f). The initiative is likely to ultimately be successful since apparently a strong majority of Americans support the initiative and the Republicans blocking the disclosure are weakening in…
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The Attack on Truth
“Harvard’s motto is simple. It is just a single word: Veritas. Truth. We have seen disturbing signs that the Administration will suppress open thought and debate, silencing scientists and withdrawing their funding, attacking journalists and declaring them the “opposition party,” repeating falsehoods big and small. Truth. It is the guiding value of your alma mater;…
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A tale of two tax penalties
A small business client – a small charity – had an open wage tax penalty issue when I started working with them three years ago. I looked into it, got the amount decreased by a little bit and advised them to pay it ASAP. Then over the next two years they received two more tax penalty…
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CPA sends ultimatum to small businesses
I regret that had to send a few small business clients an ultimatum this morning over what appears to be an unwillingness to address new tougher IRS tax filing requirements. This follows after I notified clients of the new filing requirement a few months ago, offered to handle the flings, but they declined. While the business tax…
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Terrorist vs. muslim refugee
Republicans: The first photo is a real domestic terrorist. The second photo is a muslim refugee who desperately needs our assistance right now. The nation demands that you take off your political blindfold, use common sense, and learn to recognize the basic factual differences between the two. A logical person can easily apply analysis of…