Average New Jersey tax preparation fees in 2020

Posted Leave a commentPosted in Accounting, Self-employed, Small Business, Tax Planning, Taxes

These are the most recent published average industry prices for tax preparation services in the state of New Jersey as of the date of this blog post. These are not my rates, although I do pay attention to this type of published data when calculating my own pricing. Individual tax returns Most individuals who do […]

29 “Five Star” online reviews! Thank You!

Posted Leave a commentPosted in Accounting, Financial Planning, Small Business

I started a new small business accounting firm in Millville NJ this past January and got moving just before this shutdown craziness hit us. Tough timing for sure! I know it’s important for a new business to collect client endorsements but there’s been little time for that yet. Even so, I am grateful to have […]

Changes to Nonprofit Organizations

Posted Leave a commentPosted in Accounting, crisis management, Nonprofit

The coronavirus crisis is causing many nonprofit organizations to raise questions about strategic management positions and related compliance issues. Questions on these two issues below are common. Through online discussions, I found that many advisers are not aware of these specific details. This post includes a short discussion and a link for more information. Change […]

Status of Paycheck Protection Program application?

Posted Leave a commentPosted in Accounting, crisis management, Small Business

This comes from a real email exchange today: CLIENT: Subject: Re: status update on Payroll Protection Program Tony, I don’t believe I heard anything back from this? Has xxxxxx responded to our request?   ME: Correct. No response after initial confirmation of application more than two weeks ago. I did attempt to contact the officer who […]

Change to client services agreement

Posted Leave a commentPosted in Accounting, Financial Planning, Small Business

This is a template for a new letter to be used beginning today: CHANGE TO CLIENT SERVICES AGREEMENT The past six weeks have been unlike anything I’ve experienced in the past 33 years of serving in the advisory profession. I responded by increasing my average daily client caseload from 3 to 5, increasing hours and […]

Small business roundup of crisis response news

Posted Leave a commentPosted in Accounting, crisis management, Small Business

The past day generated more financial news affecting U.S. small businesses than any previous day of this pandemic. While the learning curve is steep, typically 1-2 hours each day, the time requirement today and for the rest of this week will be substantially more. No doubt that after I speak with some small business clients […]

Costs associated with Paycheck Protection Program application processing

Posted Leave a commentPosted in Accounting, CARES Act, Payroll, Small Business

I’ve publicized here and on other platforms that my firm and some affiliates will prepare and submit economic relief applications under the CARES Act without charge. But submitting the application is the easy part. Doing the required underlying accounting and assembling the documentation to support these loan and grants applications is potentially expensive. Of course, […]

How am I helping business owners survive the crisis

Posted Leave a commentPosted in Accounting, crisis management, Small Business

I might be known around here as the “crisis management guy”. In fact, most of my professional career was spent creating a path forward to help local small businesses climb from economic disaster. Until now, it was mostly a bad joke among peer CPAs. Now it is the most important professional focus that we need […]

Crisis response message

Posted Leave a commentPosted in Accounting, Small Business

This short message will go out to business clients ASAP: “Over the past four days I’ve switched my small business advisory practice from cautious planning to full-fledged crisis management. Obviously the intent of this work is to stay ahead of the impact but that is especially difficult with the situation changing by the hour. My […]