Author: Tony Novak
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How to cope with threatened sabotage of health care financing
Three strategies for small business health plans On Friday July 28 and Saturday July 29 president Trump and his press spokesperson made a series of statements indicating that he planned to sabotage a financial pillar health care system by revoking government funding for the insurance premiums working class people. The president’s actions are admittedly motivated by politics.…
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A plan to use Twitter for business
I recently committed myself to explore and develop a plan to use Twitter in my business. Like most small business people, I have a Twitter account and use it without a specific plan or goal. As a result, Twitter does not contribute to my business results. The plan to change that is simple and straightforward.…
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Five health care strategies for small businesses in 2017
Only hours past the point where we thought that Republican leaders in Washington DC had reached an agreement on minimalist proposal to begin “repeal and replace” of Obamacare, the measure known as “skinny repeal” (covered in my last blog post) has been defeated. Many of us went to bed last night thinking that the healthcare…
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“Skinny Repeal” explained
The lowest common denominator Obamacare repeal and replacement plan is said to get rid of the "O" and keep the "bamacare". It is specifically designed as the most likely health care bill that could gain the support of the required 5o Republican senators. It is called "skinny repeal" because it would only repeal the requirement…
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New Jersey commercial fishing
It's become more important for me to gain an understanding of our commercial fishing industry and it's businesses in light of my new business venture . I've spent more time in the past learning about Chesapeake Bay businesses than those closer to home. I spent a little time today visiting and chatting.
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What is ahead for tax reform?
Tax reform in 2017-2018 is focused on reducing taxes for affluent individuals and large corporations. Dramatic cuts are proposed by the President and some Republican members of Congress. It could be a game-changer for tax planners like me who use these tax laws to find ways for clients to pay less. Yet the public overwhelmingly…
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What the collapse of health care reform means to us
What does the collapse of Congressional efforts to reform health care mean to us in small businesses? Certainly it raises many questions and provides few answers. These questions came to mind: Is the IRS under a Republican Trump administration likely to enforce the tax penalties that it fought so hard to repeal? I suspect not.…
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Fiduciary Rule will shake up the financial services industry
Most of us in the financial services or advisory professions are generally aware of the impact of the “Fiduciary Rule”. But few, including myself, has any in-depth understanding of the scope of its impact. This well-written explanation of the fiduciary rule comes from a training material for financial service professionals. I added the emphasis. “In…
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The five “D”s of opposing political opinions
1. Deny: It’s a total lie, it never happened, it’s fake news. 2. Dismiss: Ok, it happened, but it’s not a big deal. 3. Downplay: Ok, it might be a big deal only because of the other side’s fanatics, but it’s not illegal. 4. Deflect: Ok, it’s illegal, but the other side did something worse, so…
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AICPA praises small accounting firms
The American Institute of Certified Public Accountants published an article praising small CPA firms: “small firms serve their clients in ways that often go beyond the books. Small firm practitioners act as the volunteer treasurers of thousands of nonprofits, and lend a hand to a variety of religious organizations, community teams and clubs. Their practices…