Author: Tony Novak
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Update on nondisclosure of charities’ donor rule
Revenue Procedure 2018-38 remains controversial. Lawmakers (mostly Democrats) are concerned that it could encourage the flow of dark money into the tax-exempt sector. Their concern is valid. I know of private foundations that have already reorganized as public charities to take advantage of the secrecy rule change for their own benefit. No doubt, this rule…
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Twelve consumer product businesses to avoid
These twelve companies sell to consumers; meaning there is usually a consumer market choice to be made. They made my boycott list either for unacceptable social actions or for unrelenting damage to the environment*. I won’t buy from any of them and I hope that you reach a similar conclusion and don’t support them either.…
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Avoid being a fraud victim when venturing into the cannabis industry
It seems like every week lately we read about another cannabis industry fraud. Investors are losing millions. Regulators are levying fines. The IRS, tax court and states are moving at full speed against these companies that simply lack effective management controls. In one tragic case, a cannabis business founder committed suicide after losing millions in…
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The coming housing price correction
One of my persistent flaws as a financial adviser (and as an investor) is that I forecast market changes too early. That’s a timing flaw, not a flaw on detection of the trend. I’ve been negative on housing prices for a long time. This graph published in a Robert Woods Johnson report explains why. When…
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Avoiding taxes for IRA accounts
Avoiding taxes on money held inside an IRA can be challenging. This article in Barron’s discusses how one more easy tax planning tool is likely to be eliminated and how to adjust to avoid triggering taxes in large IRAs. But there is always a way to reduce or eliminate taxes if you make your financial…
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Questions about TechSoup
My largest block of clients are charitable organizations. In that nonprofit field the company TechSoup is a popular vendor of technology services. A few recent events cause me to ask more questions. I’ve made a few purchases for clients through them. TechSoup markets “donated and specially discounted technology offers”. But lately I’ve noticed that specific…
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Health issues related to professional work after age 60
I’m not quite there yet; I turn 59 in a couple of weeks. But I’ve just been through the toughest year of my life1. It forced me to be more aware of the health risks of my long hours, high stress work routine. I’m paying attention to my health issues with special attention to the…