Tony Novak CPA

Author: Tony Novak

  • UFOs and government permits: an odd connection

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    Tony Novak
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    For all our lives, there has been some background discussion of “UFOs”. It turns out that the simple fact is that at any given moment, there are thousands of “unidentified objects” data collection balloons in the sky above us. Some additional unidentified objects up there are apparently not balloons but something that some in our…

  • Lessons learned (again)

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    Tony Novak
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    I feel foolish about violating some of my own business practices and getting burned this week. So I took a minute to write out and publish personal resolutions. RESOLVED:I will not publish content or collect reviews on sites controlled by large tech companies like FaceBook No use was from Colombia MHRA, and one was from…

  • TurboTax user needs free tax advice

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    Tony Novak
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    “I’m doing my tax return on TurboTax and I just have a quick question. I wonder if there is something wrong because I’m not getting any money back”. – a caller yesterday I pick up my own phone so sometimes I get these types of questions. Tax preparers tend to be irritated by calls asking…

  • It’s February Already!

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    Tony Novak
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    January Successes Upgrade business security systems and all software Completed first CPA firm review Finished separation of lines of business marketing paths and web sites   January Failures Nonprofit partner funding requests   What I planned but did not accomplish in January Relaunch Mailchimp platform for client communications Finish detailed review of all client accounts…

  • Privacy for directors of charities

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    Tony Novak
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    This post describes how we are solving the problem of maintaining privacy for nonprofit directors with examples of the three methods that we are using now. Most directors of nonprofit organizations serve as volunteers on a part time basis. They may only vaguely understand the legal implication of their role with the charity. It is…

  • Business Leadership Forecast for 2023

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    Tony Novak
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    These eight macroeconomic trends will influence businesses leaders in 2023.

  • A note on Artificial Intelligence 2023

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    Tony Novak
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    What we refer to as ‘artificial intelligence’, or ‘AI’, in use or emerging now in our daily lives is really just a bunch of bots scraping, speeding up, and repackaging the work of humans. It has the potential to increase efficiency but also to interfere with negative impact when we do not recognize the potential…

  • Misinformation effect

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    Tony Novak
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    I notice that an increasing part of my daily efforts are focused on addressing different types of media misinformation and that my primary work role with clients and others has shifted as a result of this societal drift. I conclude that addressing the flood of media misinformation will require cultural change in learning more about:…

  • Corporate Transparency Act

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    Tony Novak
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    Not yet on our small business radar:On January 1, 2024 the sharp filing requirements with steep fines for filing omissions kick in for many small businesses under the Corporate Transparency Act. Most professionals serving small businesses are not yet aware. Those of us what are aware do not have advance planning recommendations or work plans…

  • My comment on revised Statements on Standards for Tax Services

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    Tony Novak
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    The AICPA proposed revisions to its Statements on Standards for Tax Services. Tax practitioners are asked to provide comments on the proposed SSTS changes. I submitted a comment regarding the disclosure on the use of estimates when a taxpayer is ill. *** The current standard on the use of estimates under unusual circumstances 2.4.1 says…