by Leif Jensen | Dec 14, 2020 | Rant |
We have all had the old adage “Work hard and you will be successful”. Believing that with success comes happiness. But along with success, come the mental idea of goals, which pushes goals further away, so no happiness. So, in theory this is a broken formula. It is...
by Leif Jensen | Dec 9, 2020 | Uncategorized |
Illinois has collected more than $100 million in recreational marijuana tax revenue since legalizing sales Jan. 1, 2020 according to the state’s Department of Revenue. The tax revenue, which includes a cannabis tax, as well as state and local sales taxes, reflects...
by Leif Jensen | Dec 8, 2020 | Taxes |
Give to an IRS-recognized section 501(c)(3) charitable organization. You may be surprised who is not on the list. I know of one “Not-for-profit” who has been involuntarily dissolved by the IL Secretary of State’s office and are not listed on GuideStar.org, so I...
by Leif Jensen | Dec 7, 2020 | Taxes |
The IRS has made up some new fun just for 2020. Donate cash, to make use of two new tax rules that apply only for 2020. Nonitemizers can claim an above-the-line deduction of up to $300 for charitable cash contributions that they make in 2020. This means that for 2020,...
by Leif Jensen | Dec 2, 2020 | Uncategorized |
A tried and true year-end planning tip has been to donate valuable property, contribute appreciated investments, such as stocks or shares in mutual funds. Provided you have owned the property for more than a year, you can generally write off the full value if you...
