Author: Tony Novak
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Head’s Up on New Pennsylvania Charity Reporting Requirements
Executive Summary: Smaller Pennsylvania charities face revised state requirements for their submitted financial statements that may require additional advance planning. May 16, 2018 is the IRS filing deadline for filing 2017 information with the federal government for most nonprofit organizations. Some organizations haven’t had a need to focus on the details of recent legal changes affecting…
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Health insurance for illegal immigrants
Illegal immigrants pay at least $12 Billion each year more in wage taxes that they receive in social benefits that the rest of us take for granted. These workers come to the U.S. legally, typically on short-term work visas, with the understanding that they pay regular U.S. wage taxes but do not receive the same benefits…
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Who benefits the most from tax planning?
Our tax laws provide more opportunity to some people than others. I find that some people can save tens of thousands of dollars with little effort through active tax planning while others might save only a thousand dollars or so. Obviously these high impact people are the ones that tax planners like me want to…
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Aging gracefully
Proposition from an online friend: “I believe the world is no worse than it ever was. Everything is just more exposed now. Have faith and look for the good.” My Response: “That’s a great positive motivator. Unfortunately, as an evidence-focused guy I don’t see that the data supports that first conclusion.Yes, the data is more…
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Is tax amnesty coming to New Jersey?
Governor Murphy proposed a tax amnesty program in our state of New Jersey. All indications I’ve read indicate that the legislature will eventually authorize it. If you haven’t filed tax returns now is the time to plan a strategy to get ready for this program. I am please to speak with anyone confidentially or even…
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List of Pennsylvania Local Tax Collection Districts (2018)
Pennsylvania currently has 70 local tax districts. The tax collector for each district splits the tax, where applicable, between the school district and the local municipality. In some cases there may be a local tax where you live (for example, a 1% earned income tax) and a different tax (for example, a local services tax)…
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Local income tax revisited
Recently I had an online conversation with an older successful business owner who apparently did not know that her business was subject to local income taxes. I don’t know the background or how this happened. I suspect that limited communication skills years ago played a role for this non-English native. Since there is no statute…
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The easy way to file a tax extension
This year about half of all my tax document and information responses were received by text message. This week text message service is helping to get tax extensions filed for people who are not ready to file their tax returns yet. Minimum requirements for filing an extension To file an extension, at a minimum, tax…
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New Jersey CPAs weigh in on legislative priorities
These are the legislative priorities of the members of the New Jersey Society of Certifies Public Accountants most recent member survey: Reducing property taxes Improving the state’s infrastructure — roads, bridges, tunnels and public transportation Converting public pensions to 401(k)s Auditing state agencies and programs for overspending, waste and revenue allocation Combining municipalities and/or school…
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Boycott Sinclair in Pennsylvania
The Sinclair broadcasting network has raised the nation’s awareness of the risk of centralized media control. Fortunately we have no Sinclair stations in New Jersey, Delaware or eastern Pennsylvania – all areas that are known for higher levels of education and independent thinking. It would be more difficult for a manipulator to gain financial support…