Author: Tony Novak
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The real obstacle to immigration reform
I was glad to see this ‘middle of the road’ balanced and non-political coverage of immigration reform in USAToday. “With no major reforms since 1986, our federal immigration laws must be updated. To enhance security, boost the economy, and deal fairly with immigrants seeking to build the American dream. For too long, Washington has avoided…
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Watch out for these two latest online scams
Scams always require two components: the media and the message. CPAs are indoctrinated with specific education and are required to maintain an attitude of “professional skepticism”. As a result, I tend to be more likely to notice and document emerging dangerous trends. Based on this experience, I’ve covered online consumer finance scams1 in this blog for…
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IRS launches audits of bitcoin holders
Bitcoin is the largest and oldest cryptocurrency so it makes sense that IRS would take enforcement action against these account owners first. Some owners may have heard incorrect information that their transactions were not taxable or that IRS could not get their account information. Both of these are false. IRS announced last year that it…
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A ‘systems’ approach to business improvement
Looking for ways to improve your business? It can be overwhelming when you are in the middle of day-to-day operations. Business advisers suggest looking at a business as just a combination of systems. Then looking at each system separately can lead to opportunities to learn more and make improvements. I’m a strong advocate of the…
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IRS Security Upgrade for 2018
Beginning last month and concluding yesterday, the IRS e-services system went through a dramatic increase in security. The online security upgrade is accompanied by a telephone service security upgrade that went into effect last week. This is the system that tax professionals like me use to address client issues involving the IRS. I wrote about…
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Small business employee benefits under the Tax Cut and Jobs Act
This is the one version of an opening to a group of articles that I am preparing for specific industry or professional groups in my area of concentration: small business employee benefits planning. This version is for CPAs but other versions of the article will be appropriate for small business audiences. In the final weeks…
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Ways to improve response to email
This blog post was written after a week where I felt that responses to my warm emails (people I know or at least am a ‘contact’) and online messages. The tips are compiled from multiple sources. Use numbers. Keep it short. Use bullet points Use the word “because” Speak to value Make a clear ask Offer…
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When is paper filing of tax returns required?
For Tax Years 2014, 2015, 2016, business e-file will re-open Tuesday January 9. Taxpayers who need to file business Federal and State tax returns will need to file on paper. Individuals can still e-file 2015 and 2016 returns at any time but earlier returns must be filed on paper. Paper returns cost a bit more…
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Encrypted Email, Secure Messaging and Secure File Transfer
“Encrypted Email”, “Secure Messaging” and “Secure File Transfer” are three terms that most people doing business online should know about today. This seems like a good time to review the options as we begin the tax filing season. While these security measures are probably not needed for most people most of the time, I include…