Category: Accounting
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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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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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QuickBooks “Pay Bills Online” (New feature)
I just set up and tested the internal “Pay Bills Online” feature of QuickBooks. Actually this is an integration between QuickBooks and Bill.com. The benefit is that bills can be paid without leaving the accounting software. (Prior to this I had to pay bills on my bank web site and then enter the payments manually…
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Rant against desktop accounting
I’ve been critical of accountants and business managers who have not adapted to online hosted accounting platforms. Their logic in using local desktop-based accounting software programs just does not make sense to me because almost all the sources of accounting data are already hosted online and almost all the output of accounting data are already hosted online. Why…
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Effect of election on NJ small businesses
New Jersey is now the seventh state where Democrats control both the executive and legislative branches. What does that mean for us with small businesses here? This is more than just a local wall against trumpism. It directly translates to increased tension and a lack of coöperation between the federal and state government. The news…
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My Friday client communications
Good communication is key to effective tax and financial planning! In today’s complex environment it is too easy to miss a communication and lose momentum. I try to review the status of all time-sensitive open issues weekly.
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“Current events in compensation and benefits planning”
Twenty years ago I taught a CPE course in my 2nd floor office in suburban Narberth PA called “Current events in compensation and benefits planning”. It was approved for CPE credit by the PA Bar Association, the PACPA and the PA Insurance Department It was surprisingly popular and the 12 chairs in the conference room…
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2017-2018 tax services agreement
From time to time it becomes necessary to update my service agreement. This is a revised generic tax services agreement proposed for next tax season. Dear : Thank you for choosing me to help you with your taxes. My goal is to give a stress-free tax filing experience. Clear communication plays an important part…
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The good news/bad news for New Jersey workers on Trump’s health care cuts
Here are six key points for New Jersey workers following the 10/12/2017 Trump executive order on health care: Only 150,000 of the 9 million New Jersey residents, less than 2 percent of the state population, are affected by the Trump health care cut, according to the Centers for Medicare and Medicaid. New Jersey does not…
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Do I want or need a financial statement audit?
Does your nonprofit organization need an audit, review or compilation? What are the three main benefits of these procedures? The AICPA has a free 6 page report titled “Do I Want or Need a Financial Statement Audit” summarizing important information. The side-by-side comparison chart is especially useful. I have been active in helping management of…