by Leif Jensen | Sep 25, 2024 | Rant |
The 2024 presidential election represents a pivotal moment in American history, the first in nearly half a century where the names Bush, Clinton, or Biden are absent from the ticket. For 48 long years, these dynastic families have exerted a powerful grip on our...
by Leif Jensen | Sep 23, 2024 | Taxes |
If you file your U.S. tax return late, you may face two primary penalties: the late filing penalty and the late payment penalty. The late filing penalty is 5% of the unpaid taxes for each month or part of a month that your return is late, up to a maximum of 25%. If...
by Leif Jensen | Sep 18, 2024 | Taxes |
IRS updates draft version of Form 1099-DA, Digital Asset Proceeds From Broker Transactions; requests comments on form planned for 2025 The Internal Revenue Service today posted an early draft of the updated Form 1099-DA, which is the form for brokers to report certain...
by Leif Jensen | Sep 16, 2024 | General |
Normally, the passive loss rules bar deducting rental real estate losses. But there are two exceptions. The first is for real estate professionals who spend more than 50% of their working hours and over 750 hours each year materially participating in real estate as...
by Leif Jensen | Sep 11, 2024 | Taxes |
Normally, the passive loss rules bar deducting rental real estate losses. But there are two exceptions. The first is for real estate professionals who spend more than 50% of their working hours and over 750 hours each year materially participating in real estate as...
