Author: Tony Novak
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Should a CPA prepare your tax return?
Summary The AICPA says “Simply put, a CPA will save you money in the long run and look out for your best interests. Anyone can drop numbers into software to prepare a tax return. However, a CPA will analyze your specific situation for tax savings opportunities and help you plan for next year.” This blog post expands…
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Lessons learned in small business accounting this year
Over the past few years, since just before Covid, I returned to a traditional practice of serving small businesses on a one-on-one personal basis. This was a change from the background of handling a national firm with thousands of clients operating through automated internet technology. I made some mistakes and learned some things the hard…
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Business Ownership Information Disclosure
Absent any last minute action this week, the federal Corporate Transparency Act of 2021 becomes effective next week. Efforts by groups including our NJCPA to delay the start seem to have failed. As with any business issue in modern life, there is as much misinformation as real information. I want to be clear that this…
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My social media experience in 2023
A summary of my own social media experience in 2023:1) Twitter has degenerated to a cesspool. I use it only to read comments from one specific small group of tax professional users.2) Facebook is blocking exposure of my posts on certain topics , especially the role of social media in politics.3) My star is rising…
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Small business advisory services
1. Financing and Building the Business 2. Building Sales and Operations 3. Save Money by Cutting Costs 4. Protect What You’ve Earned
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2024 Money Island guest policy
This policy only applies to the properties under my management. It does not apply, of course, to public properties or other privately owned properties. Background: – The marina businesses is closed, probably until 2030. – The current use of the former marina property is now my residence and home-based business only. – Various colleges, state…
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Qualified immunity revisited: a small business perspective
The legal doctrine of qualified immunity, originating decades ago, serves as a safeguard for government officials facing lawsuits alleging violations of constitutional rights. Initially, the Supreme Court emphasized that this doctrine should not be a “license to lawless conduct.” However, state courts have frequently interpreted qualified immunity in a manner that allows officials to evade…
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Looking for insight into the thinking of our Latino neighbors
Slowly, over many years, I built a strong track record of serving the local Spanish-speaking community when they need tax or business services representation (in English language) to resolve problems with government even though I have often struggled to communicate with these clients. Years prior to this, my former business MedSave was a pioneering online…
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Theft of Service Concern Increased by PayPal Policy
I am increasingly concerned about theft of services where a buyer makes a claim that the vendor cannot disprove. This statement comes from PayPal’s most recent change of Policy Updates page update this month:“We are revising the User Agreement to indicate the payment a seller receives from a buyer may be invalidated and reversed if…
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Thanksgiving Day Insights into Black Voters
One of the most puzzling things to me personally in my work discussing local economic development is the increasing support of Donald Trump by some black neighbors. While I was part of the early fraud cases representing small business contractors against him, that was decades ago and much has changed in the world. Journalist Astrid…