online accountant Tony Novak, MBA, MT, Certified Public Accountant
Keep more of what you earn with the creation of a long-term financial plan built upon a foundation of safe operating practices and risk management, followed by asset accumulation, wealth preservation, and tax-efficient distribution.

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Financial planning tools

I'm a strong supporter of using checklists and organizers as primary tools in the tax planning and financial planning process. Checklists are already widely used across many other industries and even the World Health Organization uses a checklist to ensure safe surgery environment for patients. Some financial planning industry leaders think that checklists should become a standard within the financial planning process1 and I think that we will see this standard evolve over time as the industry matures. Checklists help to organize ideas, facilitate discussion and help promote uniform standards of quality within the planning process. This is a list of checklists I've used that are available online free of charge. The data organizer (highlighted in bold below), is the most comprehensive and likely the most useful if you are considering hiring an adviser.
  1. Tax planning checklist
  2. Small business accounting system setup checklist
  3. Checklist of health insurance savings strategies
  4. Accountants checklist when client or client's family member faces imminent death
  5. Estate planning checklist
  6. Financial planning checklist for unmarried couples
  7. Financial planning / tax planning data organizer2
  8. Financial adviser interview checklist
  9. Small business health plan checklist
  10. OnlineAdviser initial financial planning consult checklist
  11. Troubleshooting checklist for family limited partnerships
  12. 401(k) fees checklist
  13. Two Page / 30 Minute Business Plan Template

1See Why Aren't Checklists A Financial Planning Standard? by Michael Kitces.

2Most frequently requested through online searches.

Introductory video

Small businesses face higher taxes in 2014 and 2015

With the tax season behind us, smart business owners and their advisers are turning to tax planning to address the loss of tax deductions and the increased wage and income tax costs brought on by the Affordable Care act and other changes. There is no patent solution that applies to all small business firms. Every business is unique and needs to weight the cost saving options in light of its own financial situation. Tony Novak's list of hot topics for small business will be included in the July 2014 edition of New Jersey CPA magazine.

Managing the cost of accounting services

Want to know how much accountants charge to prepare income tax returns? See the new national survey results for 2013. Also, it makes sense to compare the cost of DIY services with the risk of missed deductions or errors. For some, it makes sense to do your own but at higher income levels it always makes sense to use a third party preparer. Keep in mind these are averages rates of all tax preparers in the U.S. I'd prefer to see clients spend less spent on tax preparation and more on tax strategy and financial planning so that is usually reflected in my own pricing.

Obamacare's impact on small business

November 4, 2013 - The complete PowerPoint presentation for the New Jersey Society of Certified Public Accountants Webinar delivered November 4, 2013 to reporters and CPA members is available for reference or download.

Tax planning made easy

revised 10/28/2013 - Shrinking your personal or business  tax bill is probably easier than you realize. Tax planning is the process of systematically looking for legal ways to reduce taxes that fit into your overall financial plan. Tax planning is quite different from tax return preparation... (read more)

How to avoid the new Medicare tax

There are two ways to avoid the new ACA Medicare tax that would otherwise cost average upper middle class taxpayer an additional $2,000 per year. The first way is to avoid triggering the tax at all. These tax strategies are most effective if planning starts well in advance. The second approach is to minimize the basis of the tax assessment after it is triggered. It is important to know where you fall under the new tax law. A tax review and planning session is the best way to know for sure. This can be done in person, by telephone or via video conference (Skype, Google+, Facetime).


Member of New Jersey Society of Certified Public Accountants

Have an unresolved  tax question or financial concern?

Schedule a $80 flat fee discussion or second opinion. Appointments available daily.

Direct Telephone:
(610) 572-1724


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QuickBooks Certified ProAdviser

offering help with:

  • resolving lingering tax issues and managing tax liabilities
  • protecting assets through a divorce or lawsuit
  • tax planning strategies
  • managing health care expenses and insurance
  • preparing for a family member with special needs
  • updating employee benefit plans
  • small business accounting
  • negotiating employee benefits
  • improving financial results

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AICPA Statement of Standards in Personal Financial Planning Services (downloadable document)

  PDF Tony Novak resume resume

academic credentials