Author: Tony Novak
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The 2021 investment shakeup
After more than a decade of one-way intense focus in the stock market, investors are now changing strategies. We see more wisdom and opportunities in the broad investment asset reallocation than ever before. A number of clients are diversifying into asset these classes for the first time. These decisions have significant long term consequences on…
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Political support policy for 2021 and 2022
I’ve been an advocate of written policies in aspects of financial management, whether investment policy, expense approval policy, charitable donations and more. This post is about my own political support policy for the next couple of years. I’m probably in the majority of Americans concerned with the actions by a minority of more radical but…
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Four basic principles of small business bookkeeping
a quick look at the most basic legal and operational principles of modern bookkeeping.
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Update on new Bitcoin reporting requirement
This blog post uses “Bitcoin” in the title that actually could refer to all types of virtual currency. On December 23, 2020 the Financial Crimes Enforcement Network (“FinCEN”) issued a notice of proposed rules that would require money service businesses (“MSBs”) to keep records and submit reports that verify the identity of customers involved in…
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January 2021 Paycheck Protection Program update
This information reposted from the Journal of Accountancy: The SBA and Treasury issued guidance late Wednesday night (1/6/2021) for the new PPP, which shares many of the same rules as the old PPP but also has some significant differences. The guidance came in the form of three documents: An 82-page interim final rule (IFR) called “Business Loan…
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4 new concerns for small business owners
(The short Facebook Live presentation of this topic is published at https://fb.watch/2Y8-AzhgVE/ ). Here’s where we are in the small business world today based on brand new developments in the past month. It does not inspire confidence for a smooth start to 2021: 1) SBA’s special priority small business PPP application acceptance processing period begins…
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Forecast: Cryptocurrency ownership reporting will be required
This blog post is based on a presumption and projection of a proposed rule that may be modified delayed or cancelled. In other words this is a warning of ‘worst case’ impact on us based on the latest available information, Until now an owner of virtual currency had no obligation to disclose those holdings to…
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How to resolve a tax dispute
About one in four of us will receive notification from a tax collection authority about a missing payment or dispute in the amount of taxes due. Most of these are “mismatch” issues where the information that the tax authority has does not match the information on the tax returns that you filed. The mismatch may…