by Leif Jensen | Jun 29, 2021 | Running a Business |
Deducting race car expenses through a construction firm draws IRS scrutiny. A father and son owned an S corporation that built houses and developed real estate. The son enjoyed car racing, so the company purchased a race car body and parts for the son to restore and...
by Leif Jensen | Jun 28, 2021 | Rant |
William Shakespeare wrote in Henry VI, Part 2, Act IV, Scene 2 “The first thing we do, let’s kill all the lawyers”. It is among Shakespeare’s most famous lines, as well as one of his most controversial. Counter to that has been a trend in law...
by Leif Jensen | Jun 23, 2021 | General |
A current and future growing tech challenge: Computer chips are using too much energy. On today’s trajectory, by 2040 the energy required for global computing would exceed the world’s estimated energy production. This worst-case scenario is probably unlikely, but it...
by Leif Jensen | Jun 22, 2021 | General |
It is amazing to believe but there is one Trump administration priority that will persist under President Biden: The return of manned missions to the moon and, eventually, to Mars under the Artemis program, now the first human deep-space exploration effort with...
by Leif Jensen | Jun 21, 2021 | Running a Business |
Seemingly good news for U.S. automakers planning their future shift to electric vehicles: The recent $2 billion settlement between SK Innovation and LG Chem, following a trade-secrets dispute between the South Korean battery manufacturers. The settlement means SK...
by Leif Jensen | Jun 16, 2021 | Investing |
It is possible that regulators may soon approve the first U.S. exchange-traded fund for bitcoin. Investors who have watched the cryptocurrency’s value soar since 2017 have understandably grown interested in gaining exposure to bitcoin via an ETF, rather than holding...
by Leif Jensen | Jun 15, 2021 | Taxes |
For 2021, the maximum amount of tax-free employer-provided dependent care benefits increased to $10,500. This means an employee can set aside $10,500 in a dependent care flexible spending account, instead of the normal $5,000. Workers can only do this if their...
by Leif Jensen | Jun 14, 2021 | Taxes |
Child and dependent care credit increased for 2021 only The new law increases the amount of the credit and the percentage of employment-related expenses for qualifying care considered in calculating the credit, modifies the phase-out of the credit for higher earners,...
by Leif Jensen | Jun 9, 2021 | Taxes |
Over the years I have done presentations to all sorts of professionals that believe they know the tax laws better than I. I am not talking about my peers who love to memorize the code, the rates and nuisances. They know it off the top of their heads, where I may...
by Leif Jensen | Jun 8, 2021 | Investing |
We now have a couple of generations brought up on video games, so was it ever a far stretch that someone would create a stock trading app that gamified investing. Michael Burry from the “Big Short” (book and movie); blasted Robinhood’s gamification of investing,...
by Leif Jensen | Jun 7, 2021 | Running a Business |
Are you one of the many who regularly purchases roasted chickens from Costco? We tend to get ours from Sam’s Club; it’s on the way home. To keep costs as low as possible, Costco opened the $450 million facility in Nebraska in 2019, which processes about two million...
by Leif Jensen | Jun 2, 2021 | Investing |
The basic thought behind any investment, stock, collectable or tchotchke is that it has value and can be resold at a later date; or so thought all of the beanie baby holders. What they were relying on was the “greater fool theory”. The greater fool theory argues that...
by Leif Jensen | Jun 1, 2021 | Investing, Money Management |
When buying stock I believe we subconsciously pick and investment style. It is usually based upon what we have read or hear. But we all invest for the upside, at least theoretically. Upside refers to the potential increase in value, measured in monetary or...
by Leif Jensen | May 26, 2021 | Investing, Money Management, Running a Business |
A number of business for sale state they are a turn-key operation, as well do a huge number of franchises for sale. But, a true turnkey franchise is in a “condition ready for immediate use, occupation, or operation,” according to a strict definition. In most cases, a...
by Leif Jensen | May 25, 2021 | Rant |
There are surprising aspects of the ancient Viking life that affects our daily lives to this day, and most people may not even be aware. The most obvious impact is the days of the week. Tuesday is Try’s day, for the Viking God of War Wednesday is Wodin’s day or...
by Leif Jensen | May 24, 2021 | Investing, Money Management, Running a Business |
Thinking of buying a business instead of starting one from scratch? If so, make sure you do your proper due diligence on the business before you pay. I have been watching “Restaurant Impossible” and I am flabbergasted at the price people supposedly paid for...
by Leif Jensen | May 19, 2021 | Investing, Money Management, Rant |
I have a client who is also a friend and each and every year he has some gambling winnings. I give him a little amount of grief over the winnings. We both know that his losses exceed his winnings. But with the restructuring of the Schedule A, my client no longer can...
by Leif Jensen | May 18, 2021 | Estate Planning, Investing, Money Management |
I have a client who has an adult child, that has some issues, and they want to make sure that they are in essence providing long term care. I recommended that they buy a six flat where they can earn enough from the 5 units so their child will always have a place to...
by Leif Jensen | May 17, 2021 | Rant |
I was reading and article on how the Uber wealthy raise their kids to be the next leaders of the industry and the world. These three “rules” are common themes To set children up for success, parents should practice honesty and let kids make their own mistakes. Setting...
by Leif Jensen | May 12, 2021 | Rant |
Have you ever wondered why the 3 Musketeers bars is called what it is? I remember that name as odd when I was an idiot child. I saw Athos, Porthos and Aramis on the label and left it at that. D’artagnan was the 4th Musketeer. The Musketeer names I found out later....
