Category: Small Business
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Small businesses wrestle with Form 941 Employer’s Quarterly Federal Tax Return
IRS Form 941 Employer’s Quarterly Federal Tax Return is, almost by definition, one of the most often-encountered sources of tax trouble for small businesses. This is the tax form that reconciles the amount of wage tax that has been sent (or is now being sent) with the employer’s liability for collecting and submitting these funds.…
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A small business’ most valuable asset
When I speak with a small business owner, the topic of managing their most valuable asset often comes up. Usually, I’ll provoke the discussion: What really is your most valuable asset? What are you doing to protect it? What are you doing to grow it? At first, they are surprised to learn that I’m talking…
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Accounting vs. bookkeeping vs. artificial intelligence
I read an article that started out with a silly statement “It’s not a reality—yet—but accounting software is poised to eliminate accountants”. The article goes on to discuss the role of bookkeeping software, not the work of accountants. I responded “If you believe that this next generation of software will replace accountants, then I would…
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Script of new introductory video
This is the working script to my new personal introduction video that will be recorded soon and then made into a multi-media video some time after that: “Hello, this is accountant Tony Novak with a quick 10 point personal introduction: 1. The value I bring to clients today comes directly from experience and relationships built over several decades…
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Where is small business health insurance headed?
This article was written for 2014 and then updated for 2017. Little has changed. These points are still not well understood or agreed upon by professionals in the small business health insurance field: Quality of information: Most of the information published in this field appears to comes from those with a vested economic interest and/or political…
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What’s wrong with business printers?
I’ve had a very difficult time over the past few years finding a reliable commercial printer for our modest but probably typical small business needs. This makes me wonder about the status of that entire industry. Our first three local business printers (one in South Jersey, one in Philadelphia, one in Manayunk) just seem to…
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18 Things Small Businesses Must Know About Health Reimbursement Arrangements
New tax laws changes affecting HRAs can have huge impact on small businesses that reimburse employee health care costs