Author: Tony Novak
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Accounting services engagement agreement – updated for 2020
This page is outdated. A more recent version is available: Sample accounting services engagement agreement 2021 Dear : Thank you for choosing me to help you with business services and accounting. This engagement agreement is meant to clarify the details of our work. Even though it is long, it is written in plain language for…
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IRS just got serious about cryptocurrency
The just-released draft copy of Form 1040 Schedule 1 that starts off with the question: “At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?” I’m sure much discussion will follow about the potential consequences of answering with a false negative. Responding with an affirmative,…
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An extraordinary 30 year wrestling memory
Thirty years ago in Doylestown Pennsylvania I was privileged to be part of the most successful team ever at Del Val University, and, I suspect, one of the most distinctive performing teams in the NCAA. We were a Division 3 team and we started the season by surprising some Division 1 teams in pre-season tournament…
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Address review – October 2019
For all of my adult life I’ve had more than one address. Occasionally government entities and agencies have launched investigations or made complaints about my address. I suspect this is politically motivated but I have no proof. Those government actions have accelerated lately and I anticipate more aggressive prosecutions in the future. The tension is…
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Lenovo Thinkpad T-580: one year review of a solid notebook computer
A little more than a year ago I purchased a Lenovo Thinkpad T580 notebook computer and by now I now have at least a thousand hours of use on it. I reviewed it last October in another log post here. This is a short bullet point update of that review now, a year later. No doubt, this…
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Why hourly billing rates are a bad idea in small business accounting
This excerpt below comes from a 10/23/2019 article in Accounting Today by Loren Fogelman titled “Your Hourly Rate is Unfair to You and Your Clients”. It echos and reaffirms many of the concepts I’ve used to develop my Pricing Policy. An Hourly Rate Creates Tension Clients closely watch the clock when you charge for your…
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Edge vs. Chrome for small business
I am considering switching from Chrome to Edge as a primary business browser on Windows 10 machines. Security will be the highest consideration in the decision with privacy, speed and resource consumption also important issues. No decision is made yet. One thing is clear: the two were not even close until the most recent fall…
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How to protect yourself from IRS Collections and Private Collection Agencies
IRS is expanding the use of private collection agencies to collect tax debt. If you are among the 1 in 15 adults who owes tax debt then there are specific steps that you should take to protect your money and your privacy. 1. You have rights. But it is up to you to know those…
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Unhappy with your small business accounting system?
One of my top priorities after tax season (today) is to implement an alternative accounting platform for my small business clients. We are aware that all technology platforms have their strengths and weaknesses, so we must understand and order our priorities. For example: QuickBooks (the world’s largest platform ) advantage are also it’s disadvantages: 1.…