Author: Tony Novak
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Electric power conditioners for small rural businesses
About a decade ago I began using power conditioner devices at my rural home and business location. These devices are also called “voltage regulators” or “surge protector s”or “battery backups”. I am aware that there are functional and physical differences in these categories of devices but for purposes of this discussion I am lumping them…
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15 features to ensure success of bill payment outsourcing
One of the best ways to use technology in your small business is to outsource bill payments. The time and expense savings that most can achieve puts this high on our list of recommended technologies. The simple fact is that a bill pay expert can do this more simply, reliably and at lower cost than…
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The new world of social investing
The financial world has changed dramatically over the past decade in ways we could not have imagined before the financial crisis. My investment banker training was suddenly not only useless; it was exposed as a liability. I remember trying to relate the shock I felt in October 2008 to my then teenage children. I said…
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Five reasons that you don’t know about tax-free stocks
Our government taxes most kinds of income. The exceptions list of tax-free income is short. One of the least known sources of tax-free income is gains on qualified small business stock ownership. Gains on qualified small business stock is completely exempt from tax. So why haven’t you heard this before? Here are five good reasons:…
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The best advice
The best advice I can offer locally to help improve our world: 1. Get a local library card. 2. Get the Libby app for your smartphone or other device. 3. Get on the waiting list to borrow popular titles. 4. Take advantage of audiobooks; most of us have more listening time available than reading time.…
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An introduction to tax free stock investments
(This blog post is an outline of an upcoming webinar. Comments, questions and feedback during this planning stage is welcome). Understanding the benefit of tax free stocks The difference between tax-free investments and tax-deferred investments The difference between tax-free stocks and tax-free bonds Compared to alternatives like HSAs and life insurance Examples of ending value…
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Powermatch follow-up planner
This is a version of the Powermatch Follow-up Planner. Collaboration / Cross promotion ideas: Warm introductions to make: Resources discussed: Social Media commitments: Connect Share content Share events Joint Workshop: Share an event:
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Goodbye miscellaneous tax deductions
These miscellaneous tax deductions were eliminated a year ago (effective January 1, 2018) by the Tax Cuts and Jobs Act but some people are just leaning about the change now: Appraisal fees Casualty and theft losses for personal property Expenses incurred in performing services as an employee Clerical help for investments Office rent for investments…
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Corporation or partnership? File an extension now.
If you need to file a tax return for a corporation or a partnership, time is running short before the March 15 filing deadline. The easiest thing is to ask us to file an extension and follow-up with the documentation available. The extension filing fee is $40 and $25 of that (the e-file fee) is…
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Text messaging for income tax filing
We notice that a growing portion of our tax clients prefer to communicate by text message over other methods like live in-person, telephone, fax, email, and video call. It is clear that texting is the #1 tax communication method now, exceeding the combined use of all other methods. The IRS and state tax authorities do…