by Leif Jensen | Jul 20, 2022 | Investing |
This year I have noticed that more and more clients have holdings at multiple brokerage firms. Typically, you can squeeze a better deal on costs and fees, if one hold most or all of your assets. I asked one gentleman why? He explained that while he makes most of his...
by Leif Jensen | Jul 19, 2022 | Taxes |
I have and am now working with a new client that have sold three properties that have been nearly fully depreciated. Two were sold in 2021 and one in 2022. They were unaware of the fact that you have to recapture the depreciation that they have been enjoying for...
by Leif Jensen | Jul 18, 2022 | Taxes |
I have had a number of clients who sell their buildings and then call me up and want to talk about setting up a 1031 exchange, since they don’t want to pay the taxes on the huge gains they just made. A 1031 exchange is a real estate investing tool that allows...
by Leif Jensen | Jul 13, 2022 | Taxes |
We have had a number of clients upset because they don’t qualify for the Illinois Senior Freeze. As we know HOUSEHOLD income cannot be over $65,000. Now this is not taxable income or adjusted gross income. This is all income; most seniors have a portion of Social...
by Leif Jensen | Jul 12, 2022 | Retirement |
The dreaded 72-T calculation, who is doing yours? I ask that question, because we picked up a new elderly client this past tax season and she expected me to do the calculation for her. Having been compliance for a group of financial advisors in a past life I know...
