by Leif Jensen | Aug 16, 2022 | Estate Planning, Investing |
I was on a webinar that had a strong emphasis on asset protection with a generational wealth protection perspective. This got me looking into what facts I can find on generational wealth. Do you own a business? Do you have your children working for you in your...
by Leif Jensen | Aug 15, 2022 | Estate Planning, Investing |
I was on a webinar that had a strong emphasis on asset protection with a generational wealth protection perspective. This got me looking into what facts I can find on generational wealth. Not every person who makes millions comes from a family who has money. This...
by Leif Jensen | Aug 11, 2022 | Running a Business |
This article continues the discussion on redesigning organizational culture and the ways in which we do business within a company. The emerging realm of “remotely capable employees” can be eye-opening, especially when we consider how the lack of physical presence...
by Leif Jensen | Aug 10, 2022 | Running a Business |
Who of us at one time or another hasn’t gotten so fed up with the shenanigans of being in Illinois that we thought of leaving the “Land of Lincoln”? The red-light cameras, the violence, the fear of violence, the $50 plus parking fees, or the taxes...
by Leif Jensen | Aug 9, 2022 | Running a Business |
Earlier this year I had a client tell be about a webinar that they suggested that I needed to watch about asset protection. Months later, I had a client whose rental property was involved in causing a building fire. I finally was able to schedule the time to sit...
by Leif Jensen | Aug 8, 2022 | Investing, Money Management, Retirement |
2021 seemingly was the year of Roth conversions. We had multiple clients joint our regulars who do annual conversions. A Roth conversion needs to go directly from brokerage to brokerage with no income limitations as well as no conversion amount limitations. But all...
by Leif Jensen | Aug 4, 2022 | Running a Business |
This article focuses on dealing with “The elephant in the room,” specifically how your company is going to work differently in the aftermath of COVID-19 with the emergence of remote and hybrid work options. The post-pandemic COVID world tells us that the ways in which...
by Leif Jensen | Aug 3, 2022 | Running a Business |
I was watching a webinar that was showing CPAs how to position their business for greater strength and flexibility to continue to be relevant in our changing times. I thought that it was relevant enough to share, because when broken down to it’s essentials if should...
by Leif Jensen | Aug 2, 2022 | Money Management, Running a Business |
The age-old conundrum of running a business; time versus money. Is your business so new that you don’t have enough clients to occupy all of your time and so no money to get them quickly? if so, you are not the first or the last to be in such a situation. Do you have...
by Leif Jensen | Aug 1, 2022 | Running a Business |
I like to believe that I am my clients “Most trusted advisor” and not just their tax preparer. But I do have a couple of clients that act as if I were a commodity, that that I am no different from a garage preparer with a Turbo-Tax package filing multiple returns....
by Leif Jensen | Jul 28, 2022 | Running a Business |
This article continues the discussion on Structure, specifically as it relates to team performance. However, before we pick up where we left off last time with the remaining key approaches used by successful teams, I believe it’s important to set the record straight...
by Leif Jensen | Jul 27, 2022 | Running a Business |
Blue ocean is an entrepreneurship industry term created in 2005 to describe a new market with little competition or barriers standing in the way of innovators. The term refers to the vast “empty ocean” of market options and opportunities that occur when a...
by Leif Jensen | Jul 26, 2022 | Running a Business |
Ransomware has become the most common type of malicious software. it works by infiltrating computers and locks them down until a ransom is paid. The frequency, severity and sophistication of ransomware attacks in the U.S. skyrocketed in 2021. There were about 420...
by Leif Jensen | Jul 25, 2022 | Running a Business |
We had a client last tax season that had a problem and they insisted that needed fixing. They had a company that they stopped paying for the annual report on a couple years before. So the state involuntarily dissolved the corporation. They could reopen the...
by Leif Jensen | Jul 21, 2022 | Running a Business |
The last article introduced the concept of Organizational DNA and its four building blocks. This article focuses on two of the four blocks: Structure and Decision Rights, with specific attention to the design and power of teams in executing your mission and improving...
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...
