by Leif Jensen | Feb 26, 2024 | Rant |
In the past I have been a member of a number of groups. I had spent a tremendous amount of time and never really got a lot of referrals. I thought of putting my own group together, one that would only, be businesses that focused on business owners. It was to include...
by Leif Jensen | Feb 21, 2024 | Rant |
I was talking to a gentleman, who lives north and travels over an hour to get to work each day –with the obvious return trip. I have a couple of clients looking for his skill set – either client would halve his travels. I offered to make an introduction. I was...
by Leif Jensen | Feb 19, 2024 | Tax Court |
I thought this case was amusing. A cat rescue group doesn’t qualify as a tax-exempt agricultural organization, per the IRS in a private ruling. The group was formed to house and rescue cats that come from an animal shelter. It also runs a cat café, in which it charges...
by Leif Jensen | Feb 14, 2024 | Tax Court |
Recovering attorney fees after beating the IRS in court isn’t the easiest of tasks. Taxpayers can recover their legal costs if they substantially prevail on the issues, unless the government shows that its litigation position was substantially justified. They also...
by Leif Jensen | Feb 12, 2024 | General |
In 2024 the Annual Gift exclusion increases to $18,000 per done, so mom and dad can give $36,000 to a child to buy their first home with no gift tax consequences. Also it has no impact on your lifetime estate and gift tax exemption or filing a gift tax return. Annual...
