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Zen Mensch Accounting

Pas de D’oh*
Avoiding Business Missteps with Friends

March 4, 2014 Rich Streitfeld, CPA
Starting A Business

Hip, Hop and Henry have a brilliant business idea: multi-lingual ballet shoes that guide the dancer in Russian, French and English. They do well, then a disgruntled Hop announces he is  skipping out to start a similar enterprise, and wants his money and equipment back.  The new business has no cash and  their records on
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Zen Mensch Accounting

Is Sex Therapy Tax Deductible?
The Medical Deductions Quiz

February 18, 2014 Rich Streitfeld, CPA
Irreverent, Taxes

I get asked this a lot. Actually,  yes — as long it is doctor-prescribed. (The lodging is on your own.) Clarinet lessons — Deductible “if advised by dentist for treatment of tooth defects”. (But tooth whitening to reverse discoloration — nope, this is cosmetic.) Wigs — Yes, “if doctor has advised as essential to mental
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Zen Mensch Accounting

Fashion, Charity And Death
Your Tax Questions Answered

February 5, 2014 Rich Streitfeld, CPA
Taxes

YOUR FAQ: Can I deduct volunteer time as a charitable expense? No. Charitable contributions must be tangible and measurable — money, securities, art, real estate.  You can deduct mileage and unreimbursed expenses under some circumstances.  Read more here: Okay, I build boats for a living and this guy named Gilligan jumped ship and stiffed me. 
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Zen Mensch Accounting

(Easy) Obamacare Money
For You Business or Non-Profit

January 22, 2014 Rich Streitfeld, CPA
Insurance– Health Business and Property, Taxes

Don’t leave money on the table.  Lost in the hubbub about the error-plagued website roll-out:  There have been lucrative tax credits available to very small businesses and non-profits since 2010.  And they are about to get more lucrative. How lucrative?  For 2013, up to 35% of the premiums you paid for your employees.  For 2014,
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Zen Mensch Accounting

The Shoebox Files
What Your Accountant Needs at Year End

January 7, 2014 Rich Streitfeld, CPA
Taxes

Some years back I was sitting with a couple, routinely preparing their return when Charles matter of factly mentioned,  “Oh, we didn’t tell you we’re divorced?.” Okay, You do not have to tell us everything. But there are some things your tax preparer needs to know. Clients often forget to bring the following information: When
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Zen Mensch Accounting

Alternative Financing for Your Business

December 17, 2013 Rich Streitfeld, CPA
Business, Starting A Business

You want to buy a building for your business but the banks want collateral first. Or they can dispense with collateral but you have to go through the arduous process of being rejected by a bank first. You only need $20,000 — chump change for the banks. Are there alternatives? YES,  more and more of
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Zen Mensch Accounting

Leverage Your Child!

December 3, 2013 Rich Streitfeld, CPA
College and Retirement, Taxes

Did you know that there are tax credits for Junior’s video immersion day camp and Hilda’s after-school Sanskrit lessons until  they turn 13 years young? The “Child and Dependent Care Credit” is available for those activities as well as for preschool and babysitting services. You can save up to $2,100  per year on $6,000 of
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Crowd Funding

The Price of Success:
Crowdfunding and Taxes

August 14, 2013 Rich Streitfeld, CPA
Artists, Business, Social Enterprise – New Economy, Starting A Business, Taxes

CROWDFUNDING IS ALL THE RAGE! Banks (still) aren’t lending, the government is broke (or broken) and venture capital is highly competitive. How then to start a business in 2013? Crowdfunding says “Ask my friends (and their friends).” It goes against everything we are taught to believe in a hyper capitalist society. We give only when
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Getting Hitched Without Strings
Health Insurance & Taxes for
Same Sex Couples

August 14, 2013 Rich Streitfeld, CPA
Insurance– Health Business and Property, Same Sex Partnerships, Taxes

Post-DOMA Edition! Wow! I am still celebrating the demise of the federal “Defense of Marriage Act”. This wonderful news puts married same-sex couples on the same playing field as heterosexual couples when it comes to federal benefits, at least if you are ”in the right state”*. For most situations, this is great – you can
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So you want to start a non-profit

I Want to Form a Non-Profit
Part I: Are You Sure?

September 1, 2012 Rich Streitfeld, CPA
Non-Profit

You have a charitable idea you and want to start a non-profit. Great! Aaronson Lavoie Streitfeld Diaz & Co., P.C. specializes in 501 (c) (3) applications, the most common form of tax-exemption. Before you plunge in, I have some questions for you. Can You Share Control?  501 (c) (3) organizations require a board of directors
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