by Leif Jensen | Jan 14, 2020 | Running a Business, Taxes |
Payroll tax scofflaws continue to be a major area of focus for the IRS. These are firms that withhold Social Security and Medicare taxes from employees’ paychecks, but use the withheld funds for personal expenses or to pay other creditors instead of sending the money...
by Leif Jensen | Jan 13, 2020 | Retail, Running a Business |
It is not hard to believe that the e-commerce is still growing, if you listen closely you can hear another retailer shuttering their doors. Nor is it hard to imagine that electronic business to business if the fastest growing segment of the market. Apparently half of...
by Leif Jensen | Jan 8, 2020 | Running a Business |
Michael Lewis in his book “The New, New Thing” offers us possibly the best distilled the definition of a business model: “All it really meant was how you planned to make money” That is the ultimate purpose of all businesses, enterprises and Not-for-Profits, it is to...
by Leif Jensen | Jan 7, 2020 | Running a Business |
I was at a several day seminar a few weeks ago and at several times throughout the seminar touched on the topics of due diligence. That got me thinking about my clients and their responsibilities for due diligence: with clients, employees, health and well-being, etc....
by Leif Jensen | Jan 6, 2020 | Running a Business |
Cash the life blood of every organization. So what is the current state of your receivables? I personally always liked how Jean Sheppard put it “In God we trust, all others pay cash”. I know he probably did not create the saying, but I know it from his book. If...
by Leif Jensen | Jan 6, 2020 | Investing |
Surprise it seems that stock gamblers are on the rise. But, sooner or later, they will lose most—if not all—of their recent gains. Just look at options trading, which has been surging. Many traders use options as a cheap way to try hitting the jackpot: stock-market...
by Leif Jensen | Dec 18, 2019 | Rant, Running a Business |
Merriam-Webster has a contrarian as a person who takes a contrary position or attitude specifically: an investor who buys shares of stock when most others are selling and sells when others are buying. Malcom Gladwell essentially labels them as outliers. W.Chan Kim and...
by Leif Jensen | Dec 17, 2019 | Advertising, Rant, Running a Business |
“How to Network” I am awful at this. I hate going into a room where I may kind of know only one or two people, or worse know no one in the room at all. But, I need to network to continue to grow my business, so I go to networking events. I also prefer those events...
by Leif Jensen | Dec 16, 2019 | Rant |
I was reading yet another article on the impact of student loans on Millenniums. They had been listening to their parents who were working off the assumptions that had helped them make their place in the world. But apparently the world had changed, and those...
by Leif Jensen | Dec 11, 2019 | Taxes |
I was reading an opinion piece in the WSJ about Warren and her “2 cents” Wealth Tax campaign, and it reminded me of this story. Granted the percentages have changed since this was first printed, but the meaning is still valid. Also, I think this was originally done is...
by Leif Jensen | Dec 10, 2019 | Corporate Entities, Running a Business, Taxes |
The goal of most business owners beyond profit is to protect their businesses and themselves. This is why the government has allowed people the ability to organize or incorporate their businesses. This is how at a basic level you can legally protect the individual...
by Leif Jensen | Dec 9, 2019 | General, Investing, Money Management, Rant |
There is a whole cottage industry running to show you how to do just that; books, articles, webinars, seminars. You name it there is someone trying to sell you their plan to help make you a millionaire. Most of it is bullshit, there is no magic elixir that will get...
by Leif Jensen | Dec 4, 2019 | General, Running a Business |
Over the years that I have seen some awful and then worse ideas for a side hustle. But there are some ideas that are pretty good and others that are great. Here are some that either myself or my clients are involved with: Sell on eBay – I am doing this, and I know...
by Leif Jensen | Dec 3, 2019 | Money Management |
How old were you when you were truly financially independent? I was married and we owned our own place at 24. But when we moved from the Townhouse to a house, we received some assistance. We received more assistance when I lost my job shortly after moving into the...
by Leif Jensen | Dec 2, 2019 | General, Running a Business |
I am always a sucker for an article that talks about side business, side hustles or ways to make extra money on the side. Especially since I believe that most people should have multiple streams of income to support themselves, their kids’ education, and their...
by Leif Jensen | Nov 26, 2019 | General, Retail, Running a Business |
eBay I was reading an article that was listing side-hustles to supplement a person’s income. I am all for side businesses or a side-hustle. I have a few businesses beyond my CPA practice myself. Hell, you get enough side businesses going and they call you a...
by Leif Jensen | Nov 25, 2019 | General, Investing, Running a Business, Taxes |
I have known people who get creative in having others cover their mortgage payments. I personally never had the opportunity or the courage to try what they did on my own. The first person bought his parents’ home from them in his freshman year of college. He then...
by Leif Jensen | Nov 20, 2019 | Investing |
Apparently, there are those thinking about buying a vacation home. At some point in time in the future, I will inherit half of one and have no interest in buying the other half. But second homes are now highly sought after now as Americans’ net wealth and disposable...
by Leif Jensen | Nov 19, 2019 | Taxes |
Did you at any time during 2019, receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency? Yes or no? Big brother wants to know. This is an important question for the 2019 tax filing in early 2020. The IRS has redesigned...
by Leif Jensen | Nov 18, 2019 | Taxes |
The Social Security wage base rises next year to $137,700, this is a $4,800 hike. The Social Security tax rate on employers and employees stays pat at 6.2%. Both will continue to pay the 1.45% Medicare tax on all compensation, with no cap. Individuals also pay the...
