by Leif Jensen | Apr 17, 2023 | Investing |
This year as well as last we saw several clients who have sold their primary residence. The sale of your principal residence for a gain creates potential tax issues if over the exclusion. Granted these are hopefully long-term capital gains, taxed at the lower 15% cap...
by Leif Jensen | Apr 12, 2023 | Rant |
In 1862, the Federal Government began printing the very first paper bills which included the two-dollar bill. Paper money took a while to catch on, as coin was the preferred currency at the time. Considering that at the turn of the century most Americans were earning...
by Leif Jensen | Apr 11, 2023 | Rant |
Nicknamed the “Tom” because they feature Thomas Jefferson’s portrait on the face Has been linked in the past to bribery, election rigging, gambling, prostitution, and bad luck in general Used by Clemson University, Geneva Steel, and 2nd Amendment proponents Originally...
by Leif Jensen | Apr 10, 2023 | Rant |
I was reading on the internet some stories presumably true that are amusing enough to share. They do have that awful ring of truth to them. Judging people’s characters for spending $2 bills is largely a thing of the past, but it can still be a tremendous hassle....
by Leif Jensen | Apr 5, 2023 | Rant |
Apparently, the current irrelevance of the $2 bill is a product of both inflation and the denominations’ seedy reputation. I thought it was because cash registers did not have enough drawers to accommodate them (slots for $1, $5, $10 and $20, $50 and $100’s go...
by Leif Jensen | Apr 4, 2023 | Rant |
No children were harmed in the making of this blog. Just random silliness, it’s been a long tax season and nowhere near the end, October 15, 2023… Just bored.
by Leif Jensen | Apr 3, 2023 | Running a Business |
In the past I have written that if you don’t feel comfortable picking up the phone to talk to your CPA (attorney, banker, insurance agent, financial advisor) you are not in the right type of relationship and should change it. These five positions should be working to...
by Leif Jensen | Mar 29, 2023 | Rant |
I theoretically own a few properties. I say theoretical for good reason. In reality, I may have had to paid or am paying for them, but I don’t feel that I really own them. Think I am incorrect? The government really owns it and let’s us think we own it. Think I am...
by Leif Jensen | Mar 28, 2023 | Running a Business |
When I started my business, the goal was to regain control over my future. It seemed that every time I had a child, a position was eliminated out from under me. So, I ventured forth with an idea more than a plan. Luckily, I had help all along the way. As I gathered...
by Leif Jensen | Mar 27, 2023 | Taxes |
The Lottery. It exists legally now in many forms from weekly drawing to scratch offs. The Illinois Lottery began operations on July 1, 1974, when lotteries in the United States were confined to areas of the Northeast and Midwest. This was also a maneuver to take over...
by Leif Jensen | Mar 22, 2023 | Rant |
The Eighteenth Amendment of the United States Constitution established the prohibition of alcohol in the United States. The amendment was proposed by Congress on December 18, 1917, and was ratified by the requisite number of states on January 16, 1919. Shortly after...
by Leif Jensen | Mar 21, 2023 | Money Management |
How much did you pay in credit card interest, last year? Was it in the hundreds or thousands? I have recommended to clients “zero interest” credit cards for faster debt repayment. These cards typically do not have balance transfer fees. These cards typically have...
by Leif Jensen | Mar 20, 2023 | Rant |
I have been reading that In the beginning of the Crypto revolution, most Black Americans were much less likely to own cryptocurrencies than white Americans. That has changed with Cryptos growth in popularity in recent years. A report from the Federal Reserve Bank of...
by Leif Jensen | Mar 15, 2023 | Investing |
Rental properties can be great transfer vehicles when held individually till death. Upon death the property gets a step up in basis to the market value at the time of death, if held in the owners name. Once a property has run through its depreciable life and paid off...
by Leif Jensen | Mar 14, 2023 | Investing |
Rental property is a great idea and can generate a decent income stream. I have seen it done with many clients. I have also seen some seen some lose money, by having the rents too cheap to cover the costs of the property. They fear that no one will pay them true...
by Leif Jensen | Mar 13, 2023 | Money Management |
I had a client who was desperate to sell his business, to the point that he settled on self-funding the purchase. It is recommended that you exercise a certain caution and be truly careful with whom you self-fund for the sale of your business. I was not made aware of...
by Leif Jensen | Mar 8, 2023 | Employees |
I have had meetings with those reviewing the possible purchase or those already owning of turn-key business. One thing I have found is that the idea of a turn-key business pivots on the manager hired to run that business. If the manager is a great success, the...
by Leif Jensen | Mar 7, 2023 | Running a Business |
When you go to your doctor, dentist or even plumber, they do not bill you by the hour. They bill you based on the service they are performing. I was surprised when the orthodontist told me, that he and all the local orthodontists get together annually to set prices. ...
by Leif Jensen | Mar 6, 2023 | Investing |
Are you in the market for a commercial property? I have a client looking in the O’Hare corridor for a place with a minimum of 20,000 sq ft. They are running into a number of obstacles. The limited amount of buildings available, not buying outright in cash and Hedge...
by Leif Jensen | Mar 1, 2023 | Running a Business |
I recently had a client meeting where I have been telling the client he is under billing for services, especially when he needs to utilize outside specialists. I gave him a basic formula to follow, it is far from perfect, but should set him up to get a better handle...
