Author: Tony Novak
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A primer on the China tariffs
What do you need to know as a consumer about about the China trade tariffs that starts today? This is a short bullet point summary. Legal background Tariffs are taxes authorized under Title 19 of U.S Code in 1930. The tax is based on Constitutional authority “The Congress shall have Power To lay and collect…
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Amazon’s decline can hurt the CFO’s reputation
An article in today’s Wall Street Journal talks about failure of Amazon to maintain quality control over its retail network. I wish it had been published two months ago. I was ‘late to the party’ in adapting Amazon as a preferred provider of supplies for my small business clients but finally made that commitment this…
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Reduce business checking fees
Today’s banking services are less expensive in the past but banks’ revenues are actually greater today. Why? Banks add extra fees for add-on services that can be avoided but only with proper management oversight. For example, most of the nation’s bill payment processors charge a hefty fee for cancelling and replacing a lost check. Many…
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Philadelphia Folk Festival Checklist
Over the years I’ve put together this checklist based on experience, mostly learned the hard way, and am posting it here today – on this 50th anniversary of Woodstock and 58th launch of the Philadelphia Folk Festival – in the event that someone else might find it useful. As I approach 60 and celebrate the…
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Legal advice by an accountant
Avoiding the unauthorized practice of law I have added this clause to all engagement agreements for clarity on making distinction on the issue of authorized and unauthorized practice of law. Legal advice Advice regarding business strategies may involve an application of general principles of business law but my services do not extend to the actual…
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“To pay a vendor”
I’d love to discuss how your business can pay bills more quickly, with better management control and at a lower overall cost. Please the chat box below or the scheduling link to make an introduction. Businesses routinely pay vendors as part of normal operations. We commonly refer to our requirement to “pay the bills”. There…
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Exercise caution when changing your state of residence
Changing residence is an important legal issue with financial consequences. It can also be complex in some situations. I suggest giving this matter the attention it deserves in both your personal and business financial planning. Tax issues If you are moving from a higher tax state to a lower tax state be aware of the…
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Remote part time small business controller services: pricing model
I’ve been wrestling with the pricing of remote controller services for small businesses. I had, on my own, established a ‘rule of thumb’ that any business that does not spend one percent of its gross revenues on internal and external accounting will likely hit legal or financial disaster. The cost is closer to two percent of…