by Leif Jensen | Jul 20, 2021 | General |
Nearly five million new gun owners have joined the 100 million-plus gun owners already in the U.S. in 2020. This is according to recent estimates from the National Shooting Sports Foundation (NSSF). The same data also shows that 40% of all firearms sales are going to...
by Leif Jensen | Jul 19, 2021 | General |
The Streaming Wars are upon us, and the deck is stacked against the small players. Amazon and Roku held HBO Max and Peacock out of the game at the beginning. Peacock is still not in the game, and seemingly may never be. Content is king, but what is amazing more so...
by Leif Jensen | Jul 13, 2021 | Taxes |
What are the federal income tax consequences from selling a timeshare? Losses from the sale of timeshares held for personal use are nondeductible. If you are one of the lucky few that sells a timeshare at a profit, you have capital gain. Different tax rules apply to...
by Leif Jensen | Jul 12, 2021 | Running a Business |
Not paying salary to its owner causes headaches for an S corporation. A lawyer who was the president of her own S firm. The company did not pay her a salary but did provide her with funds, which the firm deducted as officer’s compensation on its Form 1120-S. She...
by Leif Jensen | Jul 7, 2021 | Taxes |
Cases involving passport revocations are now coming before the Tax Court. A federal statute allows the Department of State to deny or revoke U.S. passports of individuals with federal tax debts of $54,000 or more on whom a tax lien or levy has been filed. The IRS...
