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...
by Leif Jensen | Jul 11, 2022 | Rant |
Years ago, the Social Security Administration when you reached a certain age used to send out statement just before people’s birthdays showing projections on how much Social Security they would be receiving at various levels. They stopped the practice of mailing out...
by Leif Jensen | Jul 7, 2022 | Running a Business |
Having the right mindset is a critical foundation to running a business. On a typical day, close to 60,000 thoughts will cross your mind, and that same phenomenon will occur within the minds of everyone with whom you work. The question is, How will you harness the...
by Leif Jensen | Jul 6, 2022 | Running a Business |
The market for cyber insurance is booming. It apparently is the fastest-growing segment of property and casualty insurance market. Cyber insurance covers the losses relating to damage to, or loss of information from, IT systems and networks. Policies generally include...
by Leif Jensen | Jul 5, 2022 | General |
In your business you have a number of projects that you need to accomplish, I was watching a webinar that broke out some details regarding “projects. It got me thinking about mine in a slightly more organized fashion. A “Project” is an individual or collaborative...
by Leif Jensen | Jun 30, 2022 | Running a Business |
The last article left you with three questions related to ethical conduct: Who am I? Who are We? (as a company) and What is the Company? Many small companies exist because of the vision of the original owner to do something differently or present new products to the...
by Leif Jensen | Jun 29, 2022 | Investing |
I was reading an article and in Pocket I found an article about what the 1% invest in their secrets should not be shared. The items are somewhat amusing. Famous art – like I had a shot at owning the auctioned DaVinci Corporate America’s Landlord – buy property that...
by Leif Jensen | Jun 28, 2022 | Investing |
I came across this list when reading an article and it was advertised at the bottom: “Non-Investment” Investments Rich People Learn to Make. The thing is, these are areas where rich people really do invest time and time again. Accelerated Learning. …...
by Leif Jensen | Jun 27, 2022 | General |
Law 1: Always and inevitably everyone underestimates the number of stupid individuals in circulation. Law 2: The probability that a certain person be stupid is independent of any other characteristic of that person. Law 3. A stupid person is a person who causes losses...
by Leif Jensen | Jun 23, 2022 | Running a Business |
This article continues to focus on Organizational Leadership because leaders must elevate their organizations to a higher level of consciousness that requires a transformation in practiced behaviors, values, and motivation. This change also includes consciousness of...
by Leif Jensen | Jun 22, 2022 | Rant |
I knew the number was low, but I was surprised that only 15% of discarded textiles was recycled or reused, while the rest is sent to landfills or incinerators. Which always makes taking a high value on donated goods difficult. Shipping overstock overseas I knew...
by Leif Jensen | Jun 21, 2022 | Rant |
With the planned proliferation of electric vehicles coming onto the market by the end of the decade, how are they all going to be charged? Throughout the US we have electric grid reliability issues. Adverse weather conditions in the central U.S. will be 1.7% higher...
by Leif Jensen | Jun 20, 2022 | Rant |
States are introducing bans on ransomware payments by public agencies that get hit by this increasingly common cyberattack. This is an attempt to remove the low hanging fruit, typically municipalities have limited and poor security, which have made them easy targets....
by Leif Jensen | Jun 16, 2022 | Running a Business |
Leadership is complex because it operates on many levels. Articles to this point have focused on Individual Leadership, i.e., the traits and practices of a leader for being effective on a one-to-one basis with others. We only scratched the surface so far, but at least...
by Leif Jensen | Jun 15, 2022 | Rant |
We picked up a new client this year that will not be returning next year, he isn’t even a real client this year. We did not submit his tax returns. This gentleman gave us his documents and we prepared financials for him. He did not like the results, he made money, a...
by Leif Jensen | Jun 14, 2022 | Rant, Running a Business |
This last tax season we picked up a new client that is running an e-commerce business similar to my own. I have to admit that I was jealous. They run theirs better than I do mine. As business has picked up on the CPA side a couple of my side businesses have...
by Leif Jensen | Jun 13, 2022 | Rant |
This last tax season was unusual, but I expect it to be more of the norm moving forward. We had clients who were missing 1099-R’s. They have been coming so regularly that people didn’t know who to call about the missing one. The prior year’s report never has a phone...
by Leif Jensen | Jun 9, 2022 | Running a Business |
Being an effective leader happens by design, no chance. Every action you take as a leader should be purposeful, including the informal daily communications you have with members of your team. In the last three articles, we looked at specific actions for building...
