by Leif Jensen | Jul 15, 2020 | Running a Business |
Overspending whether in business or home will only cause trouble. I had a client who had a huge payday and literally spend all the proceeds, while paying no taxes They came to us with a huge, and I mean huge tax bill from both the IRS and Illinois. When I asked why...
by Leif Jensen | Jul 14, 2020 | Running a Business |
Years ago, I was working with a client who really thought she was better than she was. She was looking at selling her business at one point and expected to earn $150,000 from the purchasing business. When I explained the financials to her and we did some quickie...
by Leif Jensen | Jul 13, 2020 | Taxes |
Ever since the IRS made it possible for any Tom, Dick or Harriet to do taxes with limited training and skills. The service was supposed to make sure that these preparers at least filed their own returns. Guess who wasn’t doing what they were supposed to do… The...
by Leif Jensen | Jul 8, 2020 | Tax Court |
Workers for an apartment cleaning business are independent contractors, and not employees, according to the Tax Court The woman who operated her own business contracted with apartment complexes to clean vacated units. She then hired workers with prior cleaning...
by Leif Jensen | Jul 7, 2020 | Retirement |
If you a kid who actually has a job, as opposed to the typically summer jobs that don’t exist this year. You can contribute to a Roth IRA for him or her up to their earning limits or $6,000 whichever is less. If you decide to give this generous gift you have until...
