Author: Tony Novak
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Why Use QuickBooks Online?
Occasionally I am asked why I use and endorse QuickBooks Online small business accounting platform. There are at least six ways to answer that question: Market share. QuickBooks. is the #1 most popular platform used by 4.3 million small businesses. There is strength in numbers. Support resources and integrations are limitless. It isn’t what you…
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In defense of CFPB
The Consumer Finance Protection Bureau is the one single agency of federal government with the exclusive goal of protecting me and you. After spending 30+ years in a role as a consumer finance advocate, I feel a strong affinity to this young like-minded government agency. The CFPB was created as part of the Dodd-Frank Wall…
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Small businesses join forces to defeat tax reform proposal
As we approach the final weeks of Congressional voting for 2017, small business groups are banding together to oppose the tax reform plan that favors the wealthiest few with more than a Trillion dollars of tax cuts they don’t need while putting the nation much deeper into debt. These groups have announced opposition to the…
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Exit planning for your small business
Advance planning for the day when you no longer run your small business can make a big difference to you, your family and your clients.
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Unsuccessful QuickBooks promotion; lesson learned
About this time last year I tried an impromptu business promotion that was not successful as planned. Intuit, the publisher of QuickBooks accounting software, offered me a promotion of 5 subscriptions with a discounted price of QuickBooks accounts. At that time, the price was an unprecedented low amount ($5 vs. the usual $20+). I offered…
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Basics of Taxpayer Representation
Tax-related stress does not need to remain a burden over the holidays and into the next year. A simple no-obligation discussion can often start the process to a resolution that everyone can handle. From time to time individual and business taxpayers run into complications with the Internal Revenue Service or another tax authority. These issues…
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Small businesses should look out for ACA tax penalty notices
The IRS will begin sending out health insurance penalty notices to employers within the next month to companies who did not comply with Affordable Care Act requirements. If your small business gets one, the first thing to do is check it over carefully. Since this is a first time penalty, there are likely to be…
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US citizens were sold out by 227 deplorables today
Today is a sad day for our nation. 227 elected Republican party congressmen voted to support a bill that cuts the taxes of the wealthiest 1% by Trillions of dollars and increases taxes for many low income people. Even more shocking, the voted to increase the national debt by an an amount that we cannot…
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How to save money on workers compensation insurance costs
Three primary and effective strategies are available to help small business owners reduce the cost of workers compensation insurance: Qualify for an exemption from coverage Qualify employees for a better rating category Arrange employee benefits to be specifically excluded from taxable wages. (This strategy reduces both wage taxes and workers compensation insurance costs). The details…