by Leif Jensen | Apr 20, 2022 | Investing, Money Management, Rant |
One client this tax season was asking me what I thought the economy was going to do in the near term, this gentleman is slightly older than me. I started by reviewing that 2021 was a gangbuster year, that most of my accounts had hit their highs and that I was pleased...
by Leif Jensen | Apr 19, 2022 | Rant |
A hundred years ago when I went to college, I told my father I was majoring in accounting. He told me that he hoped I liked “shoe stores”. The only other person whom he knew that ever majored in accounting worked as a manager of a shoe store. Apparently, he knew no...
by Leif Jensen | Apr 18, 2022 | Money Management, Running a Business |
We work with a number of clients who ask for our advice and then act upon that advise, usually for the better and their business grow and prosper. While there are a few outliers that have me in regularly to assist with certain tasks and then ignore my advice. One...
by Leif Jensen | Apr 14, 2022 | Uncategorized |
By Dr. Ray Benedetto, DM, LFACHE, Colonel, USAF, MSC (Ret), Co-founder of GuideStar, Inc. and Co-author of It’s My Company Too! How Entangled Companies Move Beyond Employee Engagement for Remarkable Results Management guru Peter Drucker (1909-2005) once said, “Every...
by Leif Jensen | Apr 13, 2022 | Money Management, Running a Business |
As strange as it may seem, we are working with a number of clients who maintain no books or records. After we created some semblance of order with their records, we could then prepare the tax returns for them. When we finally get a chance to present the returns to...
by Leif Jensen | Apr 12, 2022 | Rant, Taxes |
While at this writing the Biden tax proposal hasn’t been voted on but has been described to include very scary items. First off this is supposed to only “tax” the uber wealthy. But the tax code itself was to do the same thing in the beginning. Tax a very small...
by Leif Jensen | Apr 11, 2022 | Rant |
I was surprised when I investigated who were the movie monster screen chain in the world. I expected most to be in China owned and operated, based purely on population. But number one is AMC with 11,041 screens, started in Kansas City Number two is Cineworld, based...
by Leif Jensen | Apr 6, 2022 | Rant |
In a recent Gallup poll, they tracked U.S. adults’ movie attendance using this question periodically between 1988 and 1995 and then more regularly from 2001 through 2007. The latest reading is from a Dec. 1-16 Gallup poll, the first since 2007, and it shows a...
by Leif Jensen | Apr 5, 2022 | Rant |
I was talking to a client the other day about movies and they were somewhat resentful that the AMC theaters were mostly China owned. I thought he was wrong put didn’t say anything. I thought I had read something different but didn’t remember the details. China’s...
by Leif Jensen | Apr 4, 2022 | Running a Business, Taxes |
I have to admit I am not a friend of the home office. The thought of depreciating my home, only to recapture the deprecation as ordinary income when I sell it was never a warm fuzzy thought. Granted the IRS safe harbor of up to $1,500 is not a lot. But as I sit here...
by Leif Jensen | Mar 30, 2022 | Money Management, Retirement, Running a Business |
This year we picked up a number of new clients, a surprising amount have side gigs. Granted a number of them have a rental property of two. Today, I met with a couple where one had a pretty extensive e-commerce operation. They have their website, but also are very...
by Leif Jensen | Mar 29, 2022 | Money Management, Taxes |
With the significant drop in the stock market, I expect that capital gains from mutual funds will be sizable for 2022. When the market goes down a significant percentage of the population panics and go to cash. Mutual fund companies only hold so much cash in reserve...
by Leif Jensen | Mar 28, 2022 | Money Management, Taxes |
I don’t know why, but this is the first year that no one seems to understand how capital gains work. I have had to explain them to at least four people this year. Versus the usual one to none. I am not talking about stocks where you buy low and sell high, they seem to...
by Leif Jensen | Mar 23, 2022 | Rant |
Not all politicians come into office wealthy – but many leave that way. Here are the top 10 winners of the past decade. No one ever said Congress was not the place to grow your wealth Name Growth Percentage Avg. Wealth 2008 Avg. Wealth 2018 Grace...
by Leif Jensen | Mar 22, 2022 | Rant |
The salary of a typical member of Congress is $174,000. No one is qualifying for food stamps, but some lawmakers carry significant personal and/or business debt. Here are those “poorest” members. I know 2018 is the most current data. But then it is...
by Leif Jensen | Mar 21, 2022 | Rant |
I was wondering what Congress earned in only pure salaries, here is what I found… Speaker of the House $223,500 Majority leader and minority leader of...
by Leif Jensen | Mar 16, 2022 | Running a Business |
Most of the time when you’re grilling, you don’t think about the history behind it – just how delicious the food is going to taste when you’re done. I explored the history of Kingsford charcoal and was surprised to find a rich history, interestingly tied to Ford...
by Leif Jensen | Mar 15, 2022 | Taxes |
Did you know that if you steal property, you are required to report its fair market value in your income in the year you steal it? That is unless you return it to its rightful owner in the same year. No, you can’t give your neighbor a 1099 for the garden tools they...
by Leif Jensen | Mar 14, 2022 | Rant |
The Stock Act is an Act of Congress designed to combat Congressional insider trading. It was signed into law by President Barack Obama on April 4, 2012. The law prohibits the use of non-public information for private profit, including insider trading by members of...
by Leif Jensen | Mar 9, 2022 | Taxes |
Did you know that income from all illegal activities, such as money from dealing with drugs, must be included as income on Schedule 1 so it can flow onto your 1040? You will also be taxed for self-employment taxes as well, so both side of FICA.
