Category: Small Business
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Get the most from your small business accountant
your small business accountant is a primary agent of change Small business management is changing rapidly; more dramatically and at a faster pace than we have ever seen before. As a small business CPA I feel that it is important to help clients forecast the impact, tap into and leverage the benefits whenever possible and minimize the damaging impact of…
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Tax organizer available as a free download
A tax organizer is used to help gather information necessary for income tax return filing. It does not replace the need for original documentation but rather supplements it and serves as a reminder of the information that is necessary. A new short 6 page organizer for individuals or small business owners, titled “2015 Tax Organizer“, is now…
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“How much will health insurance cost when…”
It makes sense to plan ahead for the cost of health insurance. It is not surprising that I often receive questions about how much medical insurance will cost when I graduate, after I am divorced or when I leave a job to start a business. Fortunately,the Affordable Care Act includes a provision designed to keep health…
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“I don’t have a social security number and want to buy health insurance”
I have a free 15 minute OnlineAdviser telephone consultation scheduled this afternoon with a FreedomBenefits.net web site user who wrote “I don’t have a social security number and want to buy health insurance”. Unfortunately, there is still plenty of confusion surrounding this issue so the request is not surprising. I expect that our conversation will clarify:…
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Health insurance for farm workers
National Public Radio ran a story this month that says that half of the U.S. farm work force is undocumented and that many cannot afford health insurance. My state of New Jersey officially puts the estimate at 70% but I suspect that it may actually be higher, at least in my region. The article says of the…
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Uber for tax preparation services
What if preparing your taxes were as simple as ordering a ride on Uber? What if: it could be done from your cell phone a firm price was set in advance prices were indexed to industry averages the tax preparer was screened for professional competency the work was supervised and the return submitted under the PTIN of a reputable…
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The $100 bill is doomed
The U.S. Department of Treasury says that we have a Trillion dollars in circulation in paper $100 bills. We’ve known for a while that much of this is kept outside of the United States and that a large portion of the $100 bills actually in circulation are used for illicit activities including drug trade, human…
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How to help employees pay for individual health insurance
Small business employers often help employees afford the cost of individual health insurance rather than enroll employees in the company’s own health insurance policy. This is often the least expensive way to ensure that employees find the best coverage at the lowest price. For employees this employer involvement is often the best way – sometimes the…
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A simple individual health insurance alternative for small contractors
Help is available to convert employer-paid individual health insurance to the new IRS-permitted payment plans Many small businesses do not offer employee health insurance but want to help employees afford their own individual health insurance. Small contracting businesses are among many who formerly paid for or reimbursed part of the cost of individual employee health insurance.…
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Too many chefs spoil the financial plan
The saying goes “Too many chefs spoil the broth”. I saw that concept play out twice this month with the tax liabilities of two small businesses. These otherwise successful entrepreneurs used too many financial advisers without designating one of them as the chief financial officer in charge. The results were nearly disastrous. Potential disaster #1: S-corp cash…