Author: Tony Novak
-
New Jersey election violations cost nine candidates $42,797
Today the New Jersey Election Law Enforcement Commission (ELEC) announced that nine municipal government candidates, one county clerk candidate, one freeholder candidate, and one state assembly candidates must pay fines and fees totaling $42,797 for violating the Campaign Contributions and Expenditures Reporting Act. My job as a NJ certified election campaign treasurer is to help…
-
QuickBooks Payments Drops PayPal
Beginning next month, PayPal will no longer be available as a payment method when paying an invoice through QuickBooks Payments. This is significant to me (and many other small businesses) because I do most of my invoicing through QuickBooks Payments and make most of my payments through PayPal. Suggestions for other options? We will review…
-
Withdrawal of universal support for QuickBooks Online
We all know that business and technology are in a constant state of change. Certainly the small business accounting industry has seen plenty of change in recent years. After years of supporting the transition of private businesses and nonprofits’ accounting platform to QuickBooks Online as the core technology platform, I am withdrawing that universal endorsement.…
-
Three simple steps to tax nirvana
Taxes are perceived differently by each individual even though the overall set of chaotic rules is the same for all of us. Yet when it comes to dealing with that chaos in a manner that leads to peace and prosperity, the process always involves the same three steps: Resolve past problems. Old issues don’t go…
-
The Real State of the Union
I’ve spent much of my career, now in its 5th decade, focused on addressing the devastating impact of the widening wealth and income inequality gap. I first recognized the problem while working for two Wall Street firms in the middle 1980s. The problem has gotten much worse lately. It is not just an issue of…
-
Highest property tax rates in the country
The topic of declining mid-Atlantic shoreline property values and accelerating taxes is a controversial topic, especially in the rich communities that have not yet felt the real impact of tidal inundation. Just talking about the serious problem almost got me killed years ago when I first started covering the topic for investors. (That’s a story…
-
My unlikely ramble into national politics
A reflection on my unlikely journey from neighborhood flood response to construction techniques to national politics. Before 2016 I was not personally active in politics. Yet as a small business owner I financially supported a number of candidates in both parties, typically in small dollar amounts from $250 to $500 per campaign over several decades.…
-
Bait and switch warning for tax refund loans
Tax refund loans were always a bad idea but this year appears to be worse. Some companies stepped up their advertising this year with claims of large loan approval amounts. But now some tax preparers who use these services report that the majority of cases they submit are approved for only $500 refund even if…
-
New Jersey ‘Use Tax’
Many people here don’t know that New Jersey has a Use Tax. Use Tax is owed by New Jersey residents and businesses that buy products out of state, online, or via the mail, and then bring the products to New Jersey or have them shipped here. The Use Tax is the same 6.625% as the…