Author: Tony Novak
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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…
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Tax filing trends indicate future direction for professionals
We are only half way through the tax filing season but so far the IRS reports that tax filer behaviors are significantly different than a year ago. The number of tax returns filed has dropped by more than 12% and the number of paid preparer returns (often including the more complicated tax returns) dropped even…
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Strippers draw attention to changing tax law
Who would have guessed that strippers would be on the cutting edge of changing tax law? The laws that distinguish between contractors and employees are changing in some states. California’s strippers are in the spotlight. Yesterday strippers protested the new state law in San Diego. They like the independence of being classified as contractors yet…
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Continuing the tax planning conversation
A big part of the tax and financial planning conversation I’m having lately with local upper middle class people my age and older is questioning the wisdom of keeping multiple houses especially those big vacation places at the Jersey shore. (Some have houses and condos elsewhere but shore houses seem to dominate life for many…
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New Jersey payroll services
I offer these small business payroll services in New Jersey: Weekly, bi-weekly, monthly, twice a month, or as manually requested payroll schedule New Jersey Employer Report of Wages Paid (NJ WR-30) New Jersey Employer’s Quarterly Report (NJ-927) New Jersey Employer’s Quarterly Report for Weekly Filers (NJ-927W) New Jersey Submitter Form NJ-ERW2-S New Jersey Annual Withholding…
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Break down the tax filing process
Any complex task is easier when broken down into small pieces. Tax filing is no different. While there are plenty of different options, we break it down and pull out the best methods. Ways to collect information: BEST: Cell phone scanner with tax organizer OK: Flatbed scanner batch documents ALTERNATE: Photos or papers Ways to…