Category: Accounting
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How to refer me for income tax services
At this time of year I often receive questions like: “Do you handle individual taxes?“ “How much would it cost?“ “How do I get more information to get started?“ “Do I have to come to your office?“ YES, we welcome new individual tax clients and we make…
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Last minute 1099 preparation
At this time of year (the last 10 days of January) it is typically too late for small businesses to order the required paper forms to prepare and mail Form 1099s to avoid penalties by the January 31 deadline set by IRS. This triggers questions about whether I can do it as a stand-alone last…
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Bill.com Expert Certification
Bill.com is a market-leading software that automates tedious tasks, gets you paid faster electronically, and integrates with your accounting software to fit your workflow. I started using it last year and passed the expert certification program today. For a demonstration of how this technology can save time and money for your firm throughout the year and…
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Simplify the business of life
This blog title is a slogan used by the world’s most popular personal and small business software maker. For my purposes as an adviser, I’m using it here to refer to the accounting for essential financial transactions between an employer and employee: payroll, taxes and employee benefits. Small businesses have wide latitude in some areas of…
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Small business payroll fees for 2019
I’m sending this email message to my smallest business payroll clients: In planning for 2019 services, I’ve noticed that payroll processing fees have risen sharply for me. This seems to be an industry trend apparently related to spreading out the cost of state and local tax compliance issues for some companies but doesn’t otherwise affect…
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One QuickBooks Online account for multiple small businesses
A client wants to upgrade his bookkeeping system to QuickBooks Online but was resistant to opening a separate QuickBooks account for each of his small companies. Through a fast screen share, I was able to show him how I use my own QuickBooks account to run several businesses that each report to a separate tax…
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Changes to Tony Novak CPA business practices for 2019
***DRAFT VERSION *** This post is meant for peer advisor discussion purposes only at this time. I expect to make these five changes to improve client services in 2019. The changes apply to my core client group, local law firms, as well as other individual, small business and nonprofit clients. 1) Payroll Services Complete…
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Full small business service payroll now available at $30.00 per week
Update for 2022: prices are increased for most services but the concepts remain the same. Update: Independent accountants (like us) purchase these payroll processing services under a wholesale arrangement at a lower price and then add an amount to cover our own services. The end result is that it that pricing of payroll services is…
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Use of trade name triggers 24% backup withholding
A nonprofit company received notice from the IRS that it is to withhold 24% of the total on future payments to one of its major vendors as “backup withholding. Neither the vendor nor the nonprofit was happy with this burden! It turns out that even though the Taxpayer Identification Number was correct on the Form…
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What to expect when outsourcing small business payroll
I often mention to small business owners that one of the easy and surefire ways a small business can get improved level of service, save time and save money is to set up an outsourced payroll service. These are remote services; there is no need to be close to your business. Small businesses can easily…