by Leif Jensen | Apr 25, 2018 | General |
Depreciation for restaurant, retail and leasehold remodeling rules have changed under the new tax law. They are now consolidated under the grouping of qualified improvement property (QIP). Congressional Republicans intended to give QIP a 15-year depreciable life and...
by Leif Jensen | Apr 24, 2018 | General |
The deduct-ability of the cost of client meals is murky under the new tax law. So there is a sharp divide forming among tax practitioners on this issue. Some say that client meals, such as at a restaurant for a business dinner or a post-golf lunch at a country club,...
by Leif Jensen | Apr 23, 2018 | General |
We get a lot of calls during the year asking inquiring about our services. Most of those end when they find out that we charge for our services. At least one almost expected us to pay him to be a client; he was a waste of time and spent too much of our time on the...
by Leif Jensen | Apr 18, 2018 | General |
I recently meet with a potential client who was looking at purchasing an existing franchise business. The purchase price in my mind was too much for what they would be getting for their money. But I have also seen it the other way around. I have seen a purchaser who...
by Leif Jensen | Apr 17, 2018 | General |
The Illinois Annual Report, that annoying little bit of business that comes round once a year. Most businesses have delegated this responsibility to an outside Registered Agent. But now after years of moving in this direction the state of Illinois has a method to...
