by Leif Jensen | Feb 1, 2021 | Uncategorized |
Many key dollar limits on retirement plans will remain the same in 2021 over 2020. The maximum 401(k) contribution stays at $19,500. People born before 1972 can contribute an extra $6,500. These limits apply to 403(b) and 457 plans as well. The cap on SIMPLEs is...
by Leif Jensen | Jan 25, 2021 | Rant |
In the last election of (2020) Oregon had Measure 110 on the ballot that decriminalizes personal possession of illegal drugs, such as cocaine, heroin, oxycodone and meth. Under the measure, people who possess larger quantities of illicit drugs could still possibly...
by Leif Jensen | Jan 20, 2021 | Tax Court |
In a recent court case, it was determined that a compulsive gambler can offset winnings with unsubstantiated losses. In 2014, he spent countless hours playing slot machines in four casinos. The casinos issued 160 Forms W-2G, reporting cumulative gross winnings of...
by Leif Jensen | Jan 19, 2021 | Investing |
I was reading an article that was evaluating the validity of blog post by Ben Carlson, portfolio manager at Ritholtz Wealth Management LLC, where he stated, “investing when things look bleak remains a profitable strategy.” At first blush this seems counterintuitive. ...
by Leif Jensen | Jan 13, 2021 | General |
The emergency fund is one of the basics of long-term financial planning, but as an accountant when I touch base with my clients and ask them about the status of their financial wellbeing, I find that the verdict is split, some don’t really have one. Granted this is...
