Author: Tony Novak
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Trends in tax crimes
I missed a continuing professional education program on IRS criminal tax procedures yesterday due to ongoing problems restoring utilities after the storm on Tuesday. But I just read the program materials and the IRS 2019 report on criminal tax investigations and one thing jumps out at me: Drug related cases far outweigh all other categories…
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How to be more charming
This post is based on a recent article by Sira M. titled “Seven Habits of Charming People” promoted by Medium and follows my updated post on the Covey “The Seven Habits of Highly Effective People” book review posted earlier this morning. I’m pretty sure that anyone would say that I’m more “effective” than “charming” and…
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A reminder of ‘The Seven Habits of Highly Effective People”
Sometime before 2011 I recognized Stephen Covey’s work as one of the books that most influenced my life in this earlier blog post. There are probably millions of my generation who would say the same. The book came out some years after I finished business school and right around the time when I suffered a…
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Round Two of Small Business Recovery
Two months ago the U.S. House of Representatives passed a bill called the “HEROS Act” that included financial resources to small businesses struggling to restart after the disruptive effects of pandemic shutdown. While the entire bill is not likely to become law because of objections by U.S. Republican Senators, the small business portions of that…
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Evolution of accounting support services
This message being delivered to post-tax season clients starting today: “My business, like yours and almost all other small businesses and nonprofit organizations, is moving through a period of rapid change in what is being called the “new normal”. In short, we need to ‘step up our game’, gain efficiencies through better use of technology,…
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Main Street Lending Isn’t Happening; What’s Next?
News Update Two days ago I published a Q&A format summary of the new Main Street Lending Program, a potentially huge program that was authorized by Congress as part of the Cares Act. My writing ended with an optimistic position that the program might eventually be leveraged to finance trillions of dollars of loans across…
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Main Street Lending Program Q&As
I’ve received a lot of questions about the new Main Street Lending Program. This post is meant to provide general non-technical information as a starting point in evaluating whether the program may work for your business. What is the Main Street Lending program? A program established by Congress run through the Federal Reserve offering loans…
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A Fresh Look at Electronic Fund Transfer Payments
In a perfect world, we should be able to “click and pay” anyone, anytime, securely, and at a reasonable fee. That would be true for businesses as well as individuals. The advancement of technology has enabled that process. However, the evolution of EFT processing in combination with other financial services has muddies the waters to…
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Preserving right of claim for 2016 tax returns
The hottest topic in tax planning right now is the protection of right to claim a refund for 2016. It’s likely a hot of hot air about nothing. Beginning on 2016 wealthy people paid additional taxes mandated by the Affordable Care Act. If the Affordable Care Act is deemed unconstitutional, then theoretically the taxes it…
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Average New Jersey tax preparation fees in 2020
THIS PAGE IS OUTDATED. FEES ARE SIGNIFICANTLY HIGHER NOW. SEE SOUTHJERSEY.CPA/PRICING FOR CURRENT PRICING These are the most recent published average industry prices for tax preparation services in the state of New Jersey as of the date of this blog post. These are not my rates, although I do pay attention to this type of…