by Leif Jensen | Mar 31, 2012 | General |
The recent reductions in the IRS’ budget are negatively impacting taxpayer service. All are experiencing longer wait times to talk to a live person on the phone, processing delays with correspondence and more time standing in line at Taxpayer Assistance Centers. Also...
by Leif Jensen | Mar 31, 2012 | General |
In the past I have seen this from time to time. But, this year I seem to be seeing a few more employees with W-2’S that also received 1099’s from their employers. I know that the statisticians have been saying that this is where businesses are moving to and that last...
by Leif Jensen | Mar 31, 2012 | General |
The last couple of years I seem to be taking on clients that are a it behind in the filing of their tax returns. This is not a real problem for me, I prepare the returns for them to file. You cannot electronically file old returns. But something new has happened in...
by Leif Jensen | Mar 17, 2012 | General |
The IRS has changed the auto depreciation for autos that are put into service during 2012. There is a $100 increase from 2011, the 2012 first-year ceiling is $11,160 for new cars and $3,160 for used cars. The second- and third-year caps are $5,100 and $3,050. After...
by Leif Jensen | Mar 17, 2012 | General |
Have you ever wondered what happens to an owner who has less the 51% and is kicked out of the business? You were right it can be your worst nightmare. There has been a recent court case on this matter. A locked-out partner still has to report his share of partnership...
