Search results for: “engagement”
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Tax preparation fees for 2015 tax returns
(This post is for 2015. For 2016 tax return average rates, see this schedule). I’ve drawn some attention lately, both positive and negative, for my two personal beliefs that: a) tax preparation industry fees should be bench-marked in some manner, and, b) that fees ought to be available to consumers in advance of making a…
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Tax preparation fees represent the “wild west” of the financial services industry
We are just three weeks away from the opening of a new tax filing season and so the subject of disclosure of tax preparation fees comes up again. My opinions differ sharply from the mainstream of the tax preparation industry. The tax preparation industry may be the last bastion of “let the buyer beware” free…
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Excited about focus of services for 2016
Note: This service offer does not apply for 2017 and beyond. Please see the “Services” page for current offering details. I feel excited and energized by my planned specialization of services for 2016. I’ve just crossed the one year anniversary mark on the re-launch of my solo accounting practice after being out of the industry for…
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Initial inquiry about a private pension plan
Last night I received an anonymous post on my web site that says “I am a self-employed… with income of $1 million after deductions. I am looking to find a tax deductible retirement plan that can help me reduce my tax liability. I looked in to IRA and Roth IRAs but my income is too high…
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How to compare financial service companies
What are the key differences between your bank and its major competitors? What about your insurance company, payroll service provider or investment company? Would one of them offer you a better deal if you had specific information to make that request? The financial services industry is fiercely competitive and each firm is impressively skilled in promoting…
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What is the best time of day to post on social media?
For a business person like me who uses social media regularly and blogs daily, when is the best time of day to post a blog? What about a Facebook post or a Tweet? I conclude this is a simple question without a simple answer. The published articles on this topic, including the graph below, suggest…
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12 Questions to Consider When Choosing Your New Accountant
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A good accountant can make an enormous difference to your financial results. Now, more than ever, an accountant who focuses on helping achieve your goals is essential for peak performance. How to make the most of value-based services and pricing with a tech-savvy business services accountant; this is meant as an outline for a starting…
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Fixing the problems of financial do-it-yourselfers
New Jersey financial adviser Michael Kay wrote in yesterday’s Wall Street Journal “Do-it-yourselfers often approach advisers as a last resort when they have an especially complex or urgent financial issue, and advisers should proceed carefully with this type of client.” Since the launch of my own practice six months ago, I notice that a high…
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Lessons to be learned from Manco and Manco tax evasion case
Philadelphia area newspapers have been following a high-profile tax evasion prosecution of the owners of South Jersey’s most successful pizza shops. The owners of Manco and Manco pizza are accused of failing to report almost a million dollars of cash receipts over a period of years. I have no intent to comment on the details of…
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Pennsylvania Unreimbursed Expenses (UE) Tax Audits
I noticed that all of my Pennsylvania tax clients who took a deduction for unreimbursed expenses (UE) received an audit response letter from the PA Department of Revenue. The problem is that the cost of responding to the audit exceeds the economic value of the deduction. In that case, the most reasonable economic response is…