by Leif Jensen | Jun 22, 2020 | Running a Business |
I was meeting with a small business owner who had received their PPP funds. But as with most things government related it was not completely welcome. They had furloughed a number of workers because of the shutdown, But they had to bring back unnecessary employees...
by Leif Jensen | Jun 17, 2020 | General |
CENSORED
by Leif Jensen | Jun 16, 2020 | Taxes |
Are you still waiting for your stimulus check from IRS? You may get a prepaid debit card. IRS previously said that it will start mailing out paper stimulus checks to eligible individuals for whom the agency does not have bank account information. It now says that some...
by Leif Jensen | Jun 15, 2020 | Taxes |
Long-term capital gains still have favorable rates. Profits from the sale or exchange of capital assets held for over a year are generally taxed at 0%, 15% or 20%. To be long-term the assets must be held over a year. The rates are based on set income thresholds...
by Leif Jensen | Jun 10, 2020 | Running a Business |
I sit on a company’s Board of Directors (BOD) as Chairman. I took over from the previous Chair as he left the BOD. I have been on this BOD from the very beginning. I actually suggested to the owner that he should have a Board of Advisors(BOA) or a BOD. The company...
by Leif Jensen | Jun 9, 2020 | Running a Business |
We have worked with several restaurants over the years. After a very bumpy start with a lot of overspending, one learned how to keep their overhead as low as possible. Talking to one owner they could cover their annual fixed costs within 5 to 6 months. But only...
by Leif Jensen | Jun 8, 2020 | Employees |
I have a couple of clients who furloughed their employees when the pandemic slammed their businesses into inactivity. They restrategized, contacted old and existing clients, got some work and are recalling back the employees, now that business is pickup up a bit. But...
by Leif Jensen | Jun 3, 2020 | Running a Business |
I have a client whose business was decimated by the Coronavirus. Their whole revenue stream not only went to zero, refunds were becoming necessary so there was negative revenue. They work hand in hand with the live entertainment industry. But the client was not yet...
by Leif Jensen | Jun 2, 2020 | Running a Business |
“What’s in a name? That which we call a rose By any other name would smell as sweet” What name you chose for your company has an impact; short-term and long-term. I have clients who have chosen to put their Location in the name. If they had asked my I would...
by Leif Jensen | Jun 1, 2020 | Expense reduction |
If you are looking for an investment opportunity commercial real estate probably should not be on the top of your list. Office and retail vacancy rates were expected to increase by 20% and 13%, repectively. But now in the new Coronavirus world, companies will likely...
by Leif Jensen | May 27, 2020 | Rant, Running a Business |
What is the true purpose of college? Is it to educate young minds for the future and careers? Is it to overpay and keep a bloated obsolete inefficient job structure in place for those with minimal skills? Or is it to use young athlete and earn money off their hard...
by Leif Jensen | May 26, 2020 | Taxes |
Cook County Assessor Fritz Kaegi has plans to reevaluate every single property in the county in the wake of the coronavirus pandemic. Typically, only a third of Cook County gets reassessed in a given year in what’s known as the triennial assessment. That’s when many...
by Leif Jensen | May 20, 2020 | Running a Business |
We all know people, clients or vendors who use or have used cohabitation office space. This is Regus or We Works or any of the numerous others who rent office space. What do you think their futures looks like in the post-Coronavirus world? I would imagine it is a bit...
by Leif Jensen | May 19, 2020 | Running a Business |
Do you own any individual stock of a public company? It does not matter if it is large or small, you will regularly receive notifications to cast you ballot for who will sit on the Board of Directors of that company. If you do receive them you probably ignore it,...
by Leif Jensen | May 18, 2020 | Running a Business |
If you are a business owner how good of a delegator are you? What responsibilities, true responsibilities have to delegated to others? Or do you have to have your hands on every aspect of the business, since only you can do it exactly right. Others may come close,...
by Leif Jensen | May 13, 2020 | Taxes |
Cook County Assessor Fritz Kaegi has plans to reevaluate every single property in the county in the wake of the coronavirus pandemic. Typically, only a third of Cook County gets reassessed in a given year in what’s known as the triennial assessment. That’s when many...
by Leif Jensen | May 12, 2020 | Economy |
Were you aware that during the current crisis that a gold run that occurred? It seems that all the major vendors of gold coins have been sold-out of all their inventory. They were completely out of stock. It seems that gold still holds the same place in people minds...
by Leif Jensen | May 11, 2020 | Running a Business |
I have written repeatedly about what one client call toll booths. Receive small reliable income streams from multiple sources. I still think that this is a great idea and am always looking for income streams to enhance my wealth. Now that we have again entered...
by Leif Jensen | May 6, 2020 | Rant, Running a Business |
Social Darwinism is the theory that individuals, groups, and peoples are subject to the same Darwinian laws of natural selection as plants and animals. While now largely discredited, social Darwinism was advocated by Herbert Spencer and others in the late 19th and...
by Leif Jensen | May 5, 2020 | Running a Business |
I have clients who are deferring all of the bills that they can and paying only those that they absolutely are required to pay. I can’t blame them I am doing a bit of the same myself. All of my insurances come due in April and May, I had them moved from an annual...
