by Leif Jensen | Oct 2, 2024 | Rant |
During the Dark Ages, most people’s access to goods and services was confined to a 20-mile radius around their birthplace. Few individuals ventured beyond this limited geographic area over the course of their entire lives. Even the wealthy, who may not have...
by Leif Jensen | Sep 30, 2024 | Running a Business |
A written information security program, known as a WISP, is the foundation of an effective information governance strategy. By outlining policies and procedures, a WISP can help organizations mitigate the risks of cyberattacks and inadvertent data breaches....
by Leif Jensen | Sep 25, 2024 | Rant |
The 2024 presidential election represents a pivotal moment in American history, the first in nearly half a century where the names Bush, Clinton, or Biden are absent from the ticket. For 48 long years, these dynastic families have exerted a powerful grip on our...
by Leif Jensen | Sep 23, 2024 | Taxes |
If you file your U.S. tax return late, you may face two primary penalties: the late filing penalty and the late payment penalty. The late filing penalty is 5% of the unpaid taxes for each month or part of a month that your return is late, up to a maximum of 25%. If...
by Leif Jensen | Sep 18, 2024 | Taxes |
IRS updates draft version of Form 1099-DA, Digital Asset Proceeds From Broker Transactions; requests comments on form planned for 2025 The Internal Revenue Service today posted an early draft of the updated Form 1099-DA, which is the form for brokers to report certain...
by Leif Jensen | Sep 16, 2024 | General |
Normally, the passive loss rules bar deducting rental real estate losses. But there are two exceptions. The first is for real estate professionals who spend more than 50% of their working hours and over 750 hours each year materially participating in real estate as...
by Leif Jensen | Sep 11, 2024 | Taxes |
Normally, the passive loss rules bar deducting rental real estate losses. But there are two exceptions. The first is for real estate professionals who spend more than 50% of their working hours and over 750 hours each year materially participating in real estate as...
by Leif Jensen | Sep 9, 2024 | Taxes |
The income tax burden on high-incomers rose for 2021, per IRS statistics. The top 1% of individual filers paid 45.78% of all U.S. federal income taxes… up from 2020’s figure of 42.31%. They reported 26.3% of total adjusted gross income. Filers needed AGIs of at least...
by Leif Jensen | Sep 4, 2024 | Taxes |
Most individual tax provisions in the 2017 tax reform law expire after 2025. They include tax rates and bracket changes, higher standard deductions, repeal of personal exemptions, the $10,000 cap on deducting state and local taxes on Schedule A, and others that we...
by Leif Jensen | Aug 28, 2024 | Rant |
Classroom discussions, for students ages 12-18, cover various asset classes, risk versus reward and the power of compounding. Often, these areas are left out of traditional curriculums because they are considered nonacademic. However, these ideas overlap with the same...
by Leif Jensen | Aug 26, 2024 | Rant |
Suppose that once a week, ten men go out for beer and the bill for all ten comes to £100. If they paid their bill the way we pay our taxes, it would go something like this… The first four men (the poorest) would pay nothing. The fifth would pay £1. The sixth...
by Leif Jensen | Aug 19, 2024 | Money Management |
Universal Basic Income (UBI) is a policy proposal that involves providing all citizens with a regular, unconditional sum of money, regardless of their employment status or income. The concept has garnered significant debate, with strong arguments both for and against...
by Leif Jensen | Aug 14, 2024 | Rant |
The following hyperbolic proverb encouraging skepticism has been credited to the master of mystery and the macabre Edgar Allan Poe: “Believe half of what you see and nothing of what you hear” Poe wrote this quote in 1845, in 2024 we can’t even...
by Leif Jensen | Aug 12, 2024 | Running a Business |
Business owners need to get Independent contractors to complete Form W-9 for several important purposes: Providing tax information to clients: The W-9 allows contractors to provide their legal name, address, and taxpayer identification number (TIN) to the companies...
by Leif Jensen | Aug 7, 2024 | Rant |
So I have already highlighted some side gigs that take time and expertise with no guarantee of making a nickel. Here are some more that need real skills to even contemplate. Invest in dividend-paying stocks: Purchasing shares of companies that regularly distribute...
by Leif Jensen | Aug 5, 2024 | Investing |
Here are 10 key strategies wealthy families use to preserve and grow their wealth across generations: Diversify investments. Wealthy families invest in a wide range of assets including stocks, bonds, real estate, private equity, and alternative investments to spread...
by Leif Jensen | Jul 31, 2024 | Rant |
I was talking to a client who was looking for some extra earnings and I suggested they look into a side gig. I pulled up a list of the most lucrative… Some of these seem far fetched, time consuming with no guarantees of making any money. Some are just...
by Leif Jensen | Jul 29, 2024 | Rant |
I was looking at the movie that were coming out this year and found one that came out last year sort of and another on the same topic coming Christmas. Nosferatu, I have enjoyed these movies since I was a kid. I saw the 1922 version on Channel 11 WTTW one summer, I...
by Leif Jensen | Jul 24, 2024 | Running a Business |
Corporate Transparency Act (CTA), which was enacted by Congress in 2021 and became effective on January 1, 2024. This legislation mandates that businesses report information about their beneficial owners to the Financial Crimes Enforcement Network (FinCEN), a bureau...
by Leif Jensen | Jul 22, 2024 | Advertising |
To re-energize the marketing of an existing small business, consider implementing the following strategies: Revisit your target audience: Take a fresh look at your ideal customers and their current needs. Conduct surveys, analyze social media interactions, and review...
