Tony Novak @tonynovak Twitter profile

Last Seen Profiles

@eeeno1218

@TheDeathTally

@FilmsHitchin

@sato_saketen

@lovmiil

@VerityStothard

@JohnSmithPhili1

@andnothinelse

@JB_Gyom1996

@WikiLibCon

@OptimumTek

@_im_dann_

@AlaskaZoo

@kuuunst__

@darbeli_jelibon

@casavigil_rest

@MONOCHROMEwatch

@X2O24

@PisicchCandi

@fatmamido107

@TheSMCoalition

@niellsszz_

@PPj0j

@BRAINSMASHDaze

@FCkingyildirim

@hobigomi

@waf5G

@YUSUFSALTIK_

@andreajolie13

@iGREDUS

@pinkyblueshit

@dentreal2007

@jjjj_jill

@NinaAlexies

@Cath_0h1m

@guinnesisbest

Tony Novak

@tonynovak

7 years

@GaryKaltbaum @newtgingrich Resigning would be great

52

36

1K

Tony Novak

@tonynovak

7 years

@FoxNews If you don't respect the rights of athletes to express their rage against evils of government then you shouldn't be coaching football.

60

14

283

Tony Novak

@tonynovak

5 months

@joncoopertweets Lying to me, in person, decades ago, about contractor payment he owed that led to the collapse of the client's small business and eventual breakup of their marriage, home foreclosure, and brokenhearted young children who played with my kids in OC NJ.

10

20

170

Tony Novak

@tonynovak

6 years

@WhiteHouse @realDonaldTrump Today world leaders at the UN laughed out loud at Trump's claim that his administration has accomplished more than any in US history. They may find him funny but it is impossible to laugh at the suffering he is causing to people who don’t look like him.

22

12

114

Tony Novak

@tonynovak

2 years

Lesson learned: client asked for a detailed invoice of $1,000 (my minimum fee). I reviewed and listed 37 dates and respective activities of each. Without the client asking, I would not have been aware of how much I am undercharging. #taxtwitter

7

1

109

Tony Novak

@tonynovak

2 years

@seizethecarpe Observation from a non-lawyer: today’s bar associations ridiculously domineer new applicants but fall short of their responsibility to regulate serious professional misconduct of active members.

2

3

91

Tony Novak

@tonynovak

3 years

Tax professionals: Going crazy preparing Schedules K-2 & K-3 IRS: Hold off, we don't know what we are doing yet Me: (yawn)

10

4

87

Tony Novak

@tonynovak

3 years

I spent time today thinking about the small handful of business clients I have that gross under 100,000 a year. They can’t afford me. They can’t afford QuickBooks. They are not keeping up with their taxes. Yet I feel heartless abandoning them.

17

3

81

Tony Novak

@tonynovak

2 years

I’m having such a rough tax season that some days I question the ability to survive long term as sole practitioner. The two up sides: 1) my physical health is much improved due to changes, and 2) the potential to make improvements is limitless.

10

1

65

Tony Novak

@tonynovak

3 months

I saw a credentialed financial adviser posting advice that one owner businesses operating as an LLC could use their SSN as their tax ID. That is simply bad advice. Yes, it is legal, but it is just plain stupid. Each person in business, LLC or not, should have an EIN for security.

18

2

64

Tony Novak

@tonynovak

5 months

My wife is a wonderful homemaker. She spends weeks preparing for holidays and hosts extravagant gatherings for the kids. But lately they cancel at the last minute and today none of them showed up. I want to be able help her and the kids change behaviors. But only if they want.

41

1

63

Tony Novak

@tonynovak

5 years

@waltshaub Terroristic threats of political violence by “the tough people” with guns at “a certain point” should be prosecuted now.

0

9

59

Tony Novak

@tonynovak

5 months

Do you ever make a trip to the airport or to a Walmart store and think that America has greatly underestimated its obesity problem.?

15

1

62

Tony Novak

@tonynovak

6 years

@EdKrassen So why can’t he con his base to say the wall is already built?

5

2

54

Tony Novak

@tonynovak

4 months

News coming out about the Direct File Tax Program caught my attention. 1) The annual cost to run the program is estimated at between $64 million and $249 million. Yet the program is expected to save taxpayers approximately $21 million in tax preparation cost.

12

8

59

Tony Novak

@tonynovak

3 years

New non-tax financial advisory client asked me to take over tax prep. Said he paid a preparer $150 last year so I presumed it was a simple matter. See $42k unsustainable itemized deductions in round thousands listed by accountant with the firm “self-prepared “. #taxtwitter

12

1

55

Tony Novak

@tonynovak

2 years

Another tax secret: accelerating depreciation deductions does not always contribute to your long term goals of minimizing taxes and maximizing net worth.

5

3

56

Tony Novak

@tonynovak

11 months

@MikeSington Maybe he is not “running to be President”. Maybe he is running because his ego dictates so, and/or to stay out of jail.

5

3

51

Tony Novak

@tonynovak

3 years

IRS Press Conference Monday January 10: "Remember how insanely bad we were last year? This year we could be worse." #taxtwitter

6

9

53

Tony Novak

@tonynovak

5 years

@PattyQuinten @QasimRashid Don’t forget about me; helping provide housing, aiding, and helping our Immigrant neighbors start businesses here. My Regulators would love to Herat from you.

1

45

Tony Novak

@tonynovak

6 years

@Fidelity needs to get out in front of Julie Sandmann's statement that does not represent their organization.

1

17

41

Tony Novak

@tonynovak

6 years

@newtgingrich @thehill In a credibility question between Comey and Trump, who do you think the American people believe? Do you really think your smear campaign will affect that?

3

1

38

Tony Novak

@tonynovak

3 years

“Over 2.5 hours on hold with IRS to be cut off. I know I’m preaching to the choir. It’s just getting frustrating to keep explaining to our clients why we can’t get the answers.” - a peer tax professional today. I hear it again and again; the public is losing patience and faith.

7

6

44

Tony Novak

@tonynovak

2 years

Last week I started offering my tax clients a free mid-year review of their W4 tax withholdings. It is a lot of work to do it right so I wasn't too confident about this. But the first few responders were so appreciative that I now know it is the right thing to do. #taxtwitter

5

0

44

Tony Novak

@tonynovak

7 months

A first: Tax documents delivered in a stapled brown lunch bag. #taxtwitter

9

1

45

Tony Novak

@tonynovak

5 years

@dakine100 @sdr_medco When I met him twice in late 80s or early 90s. I recall that the people who worked for him clued me in that he was a scumbag who would never pay the bills I was asking about.

0

12

41

Tony Novak

@tonynovak

7 years

@GOPChairwoman @GOP Promoting this tax scam won’t fool Americans who overwhelmingly oppose this bill

3

2

31

Tony Novak

@tonynovak

5 months

The tax policy that killed America The Reagan era brought major tax cuts for the rich and tax increases for the middle class. We began taxing Social Security, unemployment benefits, and tips. These changes marked a critical turning point in the widening of the wealth and income

11

5

43

Tony Novak

@tonynovak

6 months

I accepted a new client, a young woman doctor in her first year of independent practice not as a W2 employee. She valued our discussion. But when I said that my minimum fee was $1,000 there was an audible gasp. Her last nonprofessional tax preparer charged $100.

4

0

42

Tony Novak

@tonynovak

4 years

@THEHermanCain How do you sleep?

5

1

33

Tony Novak

@tonynovak

3 years

Rumor is that a QuickBooks advertisement will run during the Super Bowl that will make claims about ease of product use that independent accountants do not agree with.

6

2

39

Tony Novak

@tonynovak

3 years

#taxtwitter Is it possible that 1099s are the most misunderstood topic in taxation? Good riddance for this year.

5

0

40

Tony Novak

@tonynovak

1 year

For the first time that I can recall in my entire career, I am caught up with all scheduled client work. It feels fantastic. In other words, no one is waiting for me to do something. For the first time, I am waiting for all of them.

4

0

40

Tony Novak

@tonynovak

3 years

The #1 new tax trend of 2021: The explosion of tax collection efforts relying on social media as a lead source for targeting non filers and under-reporters. Before this year I had just one such non-filer case in 2019. But had a bunch of audit cases this past year. #taxtwitter

9

40

Tony Novak

@tonynovak

5 years

@CharlesMBlow If he turns out to be the eventual Democratic nominee who can move us past Trump, then YES.

4

1

33

Tony Novak

@tonynovak

4 years

@GenMhayden Within the last hour our golfer in chief called the Supreme Court "incompetent" and called the president elect a "fake president". At what point does this become evidence of a pattern of seditious behavior?

1

7

37

Tony Novak

@tonynovak

5 months

Good grief. Tech guy texting before 7AM asking why I did not file extensions for his one member WY LLCs. I reminded him that these are disregarded entities reported on personal tax return. Then he was upset why he paid so much money to form them to hide his identity. #taxtwitter

7

1

36

Tony Novak

@tonynovak

11 months

We lost our Lance today after 14 years of fun and love and daily walks and swimming in the bay and happily greeting marina visitors. A shelter dog, came to us wild at six months and adopted us as his own. Blessed to have shared his life with us.

18

0

37

Tony Novak

@tonynovak

3 years

#taxtwitter I’ve never imagined such a backlog of work that grows every day despite my setting very high bars (and fees) to accept the work. Everyone? Just me? How is this going to end?

11

0

37

Tony Novak

@tonynovak

5 years

@essenviews Horrible Republican men

0

2

30

Tony Novak

@tonynovak

5 years

@essenviews The GOP offers plenty to low income people: False hopes A reality TV star A guy who talks like them A response that doesn’t require thinking or learning Someone to blame for their suffering

0

3

27

Tony Novak

@tonynovak

5 years

@tonyschwartz Me too. I don’t want to pass this fear on to my young adult children but I feel so bad that we have crated this mess for them.

0

23

Tony Novak

@tonynovak

5 years

@ItsJeffHudson @Caliangel55 @JoelOsteen End the tax exempt status of churches.

1

3

31

Tony Novak

@tonynovak

3 years

A stubborn relative with seven figure income insists on doing his own tax return. Then argues with me about TurboTax oddities. Every year. If not for love of family…

4

1

31

Tony Novak

@tonynovak

6 years

@NathanLerner Dare to say it? Low taxes will hurt this nation more than high taxes.

2

0

29

Tony Novak

@tonynovak

6 months

@rossiadam Contrast: We were called into the principal’s office because our son and a group of 3rd graders were discussing how many sticks of dynamite it would take to blow up a bathroom toilet. I laughed and said that 3rd grade boys don’t talk about anything else except blowing stuff up.

2

1

31

Tony Novak

@tonynovak

25 days

81 million people cast a vote for Biden in 2020. Harris people think they can boost it to 90 million by motivating millions of young people who do not regularly vote. Do you think they will do it?

16

1

31

Tony Novak

@tonynovak

2 months

I am blessed to have shared my 64th birthday with family, and great friends, with amazing food, at a beautiful place.

7

0

30

Tony Novak

@tonynovak

4 months

The first time ever that they are all facing the camera for a photo.

8

0

31

Tony Novak

@tonynovak

2 years

@lindyli Same here in Pennsylvania and New Jersey. GOP candidates will not show up to face voters in public debates.

0

5

26

Tony Novak

@tonynovak

7 years

@RepLouBarletta bizarre that's your main concern with the heath bill. But whatever; appreciate your objection

0

28

Tony Novak

@tonynovak

7 years

@MSNBC A shocking scam being endorsed by 48 Senators and @realDonaldTrump !

Shocking Legislative Scam Proposed by Senators; Endorsed by President

Is is shocking and horrifying to read that 48 United States Republican Senators and the president of the United States have pledged their vote to a secret proposed legislative scam known as the …

tonynovak.com

3

25

22

Tony Novak

@tonynovak

3 years

There’s a word that starts with “cluster” that best summarizes what we experienced in tax and small business accounting this year. #taxtwitter am I allowed to say this in year end wrap up conversations with clients?

9

2

27

Tony Novak

@tonynovak

2 years

I have a meeting with a $1M business client today who does not see the value in any accounting system. He pays his taxes with minimal records, government leaves him alone, and that’s all he cares about. How do you handle this #taxtwitter ?

22

1

28

Tony Novak

@tonynovak

7 years

@PressSec Nation a laughingstock to the world Anxiety at record high Wealth gap growing wider by Trump policies You bums must go!

2

6

24

Tony Novak

@tonynovak

5 months

#taxtwitter I spoke with a middle-aged widow, $60k W2, renter, no big assets except modest 401(k). She owes IRS $60k. She hired Optimum to negotiate an offer in compromise that, if accepted, would require her to raid her 401(k). I just said that I would not advise doing that.

14

1

28

Tony Novak

@tonynovak

9 months

Bizarre: Accounting witness who testified in Trump's New York fraud case made unfounded statements that caught the attention of us CPAs who know that is not permitted under AICPA professional standards. Turns out he has no professional licenses or professional designations in US.

3

5

26

Tony Novak

@tonynovak

6 years

@NBCNews Let’s hope this is the biggest news story of hot air today.

1

0

20

Tony Novak

@tonynovak

2 years

Prominent tax attorney/writer Kelly Phillips Erb says: "Much has been made of those new 87,000 armed IRS agents waiting to seize your assets—including your home and your small business—by force. Only that’s not true." Great opening for a tax news column.

4

0

24

Tony Novak

@tonynovak

4 years

@marwilliamson I just returned home from the pharmacy where I saw an older couple discuss and then not buy milk because of the price at $3.29. A reminder of our state of our need.

1

22

Tony Novak

@tonynovak

2 years

I’m quite concerned that our high-flying ‘home flippers’, their healthy six figure income Realtors, and cryptocurrency speculators are in for a rude cash flow wake up call in 2022. My focus must be to avoid holding an empty bag and not be perceived as a pessimist holding up plans

2

0

26

Tony Novak

@tonynovak

6 years

@CoryBooker Thank you Senator for your hard work on this.

4

3

22

Tony Novak

@tonynovak

3 months

I love #taxtwitter and that’s the only reason I’m here. I am disturbed by the rest of X. Am I the only one that feels this way?

4

0

26

Tony Novak

@tonynovak

2 years

Paid a mechanic in cash yesterday. He had to realign the bills facing the same way before he could put them in his wallet.

16

0

25

Tony Novak

@tonynovak

3 years

I left my office at noon and do not expect to go back in unless there are more efilings tonight. Six business owners were not reachable by email, text or phone. Now it is setting in how strange a year this was for tax professionals. #taxtwitter helped!

0

24

Tony Novak

@tonynovak

2 years

@TheFungi669 @MayoIsSpicyy Does someone want to read the definition of the word “racist” to her?

0

2

22

Tony Novak

@tonynovak

2 years

#taxtwitter the message you don’t want after final review.

2

0

25

Tony Novak

@tonynovak

2 years

#taxtwitter I spent most of the day doing only one 'simple' HOH tax return. It is shocking how long everything takes this year! Then partner calls in panic that they expected a big EIC refund even after receiving the RRC, ACTC and salary close to six figures, questions my skill.

1

0

25

Tony Novak

@tonynovak

2 years

Covid scare here. One of our young ones is on a respirator at home.

15

0

23

Tony Novak

@tonynovak

4 months

Frosty is blind but that does not slow him down. Of our five dogs, I think he is the happiest. Tonight he wanted to jump up for some extra lap time.

3

1

24

Tony Novak

@tonynovak

2 years

@njagoda That doesn’t help businesses like mine that are closed due to Covid shutdown damages and were denied SBA PPP and EIDL aid because they could not verify amended tax returns.

0

21

Tony Novak

@tonynovak

7 years

@washingtonpost Not covered under Cassidy-Graham the most unpopular bill ever forced on us. More than 4 in 5 now oppose the plan.

2

6

23

Tony Novak

@tonynovak

2 years

Scoop: Management of a large public accounting-related firm is about to issue a mandatory back to office edict. Dept heads told privately today. Managers warned that many resignations will follow. Meanwhile they are experiencing shortages this week due to Covid case surge.

3

0

22

Tony Novak

@tonynovak

2 years

@StockzNCrypto In the days before the internet I published a book with some moderately aggressive tax strategies and was audited three years in a row. So good luck with that.

2

0

21

Tony Novak

@tonynovak

2 years

This is my rural rustic bayshore office. Remarkably peaceful today. The center window looks north across the Delaware Bay toward Wilmington and Philadelphia. A new American flag flies on the deck to the right.

2

0

22

Tony Novak

@tonynovak

2 years

New senior tax client: "I brought the instruction booklets just in case you need them". Me: "Thank you. But I think that I should pretty much have them memorized by now".

3

1

22

Tony Novak

@tonynovak

7 years

@Newsweek A few of us are smart enough to know that Pence is far worse

10

0

19

Tony Novak

@tonynovak

2 years

Charity client: "The IRS is hassling me. I guess it has to do with all those new agents they hired to audit everybody'. Me: "Just take a cell phone picture and text it to me". It's actually an employer account inquiry from NJ auditing Doordash for employee misclassification.

3

1

22

Tony Novak

@tonynovak

5 years

@thehill I don't understand how other Republicans can sleep at night. Are they really that blind? or that heartless?

4

2

16

Tony Novak

@tonynovak

2 years

Client: "What do you mean you don't have 2020 and 2021 business financial information? Isn't it all in our IRS filings?" Client's bookkeeper is his wife who hasn't provided requested information so no filings were made. All documented from my end. #taxtwitter

5

0

22

Tony Novak

@tonynovak

7 years

@newtgingrich Trump apparently gave the speech he prepared for a video gamers' conference: "totally destroy" "rocket man"!

1

19

Tony Novak

@tonynovak

5 years

@NunesAlt @JohnCornyn Or how about that part about politicizing the South American disaster issues and then using propaganda to gain votes for the Republican Party by pushing bigotry?

0

20

Tony Novak

@tonynovak

7 years

@GOP @BillCassidy This unfortunate man might be bankrupt or worse, might lose his son under your proposal to slash health care funding.

0

17

Tony Novak

@tonynovak

6 years

@SenJohnMcCain So glad you can enjoy it Sir.

0

21

Tony Novak

@tonynovak

6 years

@tonyschwartz That’s why I recently renewed my passport even though I have no plans for international travel.

3

0

21

Tony Novak

@tonynovak

3 months

I was having blood drawn yesterday when I mentioned to the nurse that I am an accountant. She said that she had not filed tax returns in 5 years. Also yesterday, an 84-year-old woman said that she planned to walk into the IRS office in NYC to file 4 years of past due taxes.

8

0

21

Tony Novak

@tonynovak

6 years

You don'have to be a political genius to know that voters are pissed at @GOP #PA18

1

4

17

Tony Novak

@tonynovak

5 years

@ProudResister @Debveglitter And the dictator’s children playing the roles of qualified professionals.

1

3

17

Tony Novak

@tonynovak

4 months

@bhallcpa Good example. I don't understand why many investors focus on hype they heard about (like cost segregation) instead of focusing on the fundamentals like boosting and protecting sales revenue.

2

0

21

Tony Novak

@tonynovak

10 months

Yesterday my baby, 28, received a great job offer in Syracuse, New York. We suspected it was coming. She loves Syracuse. The engineering firm & pay is great, and the job is what she wants to do in residential design. But the thought of having her 5 hours away hit me hard.

2

0

21

Tony Novak

@tonynovak

6 months

#accountantswhocook the start of broccoli bacon cheddar soup in the crock pot. I’ve become fussy about bacon. Only uncured nitrate and antibiotic free organic local farm raised. As a kid I raised livestock like this. Now only aquaculture and veggies.

2

1

20

Tony Novak

@tonynovak

5 months

The worst tax scenario: It bothers me when I take a newly self-employed young person after they switched from W2 and they made no withholding. A hard-working person might have grossed $75k to pay living expenses but now owes over $10k in tax that they just didn't plan for.

5

2

21

Tony Novak

@tonynovak

7 years

@VP @POTUS @VP stands with a criminal conspirator and a system of racism. And he wonders why players protest?

1

3

18

Tony Novak

@tonynovak

2 years

@VABVOX Thanks for calling this out. I saw it for the first time tonight and was repulsed.

0

1

21

Tony Novak

@tonynovak

4 months

@mountainwesttax Seriously though, few people (public and often tax pros) seem to grasp the use of Economic Substance Doctrine that has always superseded technical provisions of tax law but has been used aggressively to disallow tax shelter schemes since it was codified in 2010.

1

0

21

Tony Novak

@tonynovak

6 months

I met with a senior bookkeeper yesterday and conversation drifted to personal discussion. She said that she could not ever imagine herself committing a fraud. I feel the same. Yet my formal education indicates that this belief is not as solid as we believe. Trust but verify.

5

0

20

Tony Novak

@tonynovak

6 months

@EvidenceOpen AFAIK, there is still no double blind study result. Population studies focus on people who pay attention to their health. Still, I take 81mg daily with little concern for downsides.

4

0

18

Tony Novak

@tonynovak

2 years

I consider my primary role to be tax pro but I haven’t done a tax return in 2+ months and work backload is heavier than at any other earlier time. I’ve raised rates sharply; 2 years at 25% with steep new minimums and retainers. What gives? Need to figure out business trends.

1

0

19

Tony Novak

@tonynovak

8 months

2024 Pricing Update I am more or less doubling fees to $2500 individual, $10,000 business minimum. I expect big drop off. That is intentional. But 2024 services are bundled and that will help everyone. I will have room to add 10-20 new clients so started advertising. #taxtwitter

1

0

20

Tony Novak

@tonynovak

6 years

@thehill @realDonaldTrump The president admits that Republicans believe in creating laws that serve the interests of the rich and Democrats believe in serving the ‘mob’, aka the governed people’.

1

2

15