by Leif Jensen | Oct 4, 2023 | Taxes |
With the wild run up of property values, I have had a rash of clients selling rental properties. The offers were just too good to refuse. When I go over the gain calculation they are startled. They are thinking I sold for $500,000, I paid $200,000 I pay tax on only...
by Leif Jensen | Oct 2, 2023 | Running a Business |
If you don’t collect new W-9 from vendor’s regularly, you should start collecting them now. A W-9 has all the relevant information to determine if you need to or not issue a 1099-M or 1099-Nec to your vendor. The IRS requires businesses to report payment of...
by Leif Jensen | Sep 27, 2023 | Rant |
I was re-watching the “Titans Who Built America” and in the episode there was a competition as to whom was going to build the world’s tallest building, Charles Chrysler or Pierre DuPont. DuPont won with the Empire State Building, Chrysler lost with e Chrysler...
by Leif Jensen | Sep 25, 2023 | Money Management |
I was listening to the radio and an investment specialist was talking about savings. I know it sounds very surprising. Actually, this one made some interesting points. If you have already established your cash reserves (3 to 6 months of cash needs in case of an...
by Leif Jensen | Sep 13, 2023 | Retirement |
Thinking of starting up a SIMPLE for 2023? If so time is running out for existing firms to set the plan for 2023. You have a deadline of Oct. 2. Otherwise, contributions can’t be made for 2023. SIMPLEs are plans for small firms; those with 100 or fewer employees in...
