by Leif Jensen | Aug 22, 2023 | Rant |
Now the following is not the result of a scientific study. This is all based upon conversations with Baby Boomers, Gen X, Millennials, and a Gen Z representative and his beliefs based on his research and reading and friends. The Gen Z group look at Congress and their...
by Leif Jensen | Aug 21, 2023 | Rant |
It’s not the strongest of the species that survives, nor the most intelligent that survives. It’s the one most adaptable to change. – Charles Darwin I read this quote on a webpage and then went on through the article. Later I had to go back and find it. I read it...
by Leif Jensen | Aug 15, 2023 | Rant |
There was a poll taken in July 1970, that had 30% of Americans declaring that Apollo 11 was a fake. Apparently, the number got a bit worse when the movie Capricorn One was released, about a fake Mars landing. I have yet to find out how the conspiracy theorists explain...
by Leif Jensen | Aug 14, 2023 | Rant |
Again, in the quest for compliance with the wiles of cyber security I stumbled onto yet another “expert” who had broken down cyber security into seven layers. I have to admit that I can agree with these for the most part, but maybe not their strict definitions. The 7...
by Leif Jensen | Aug 9, 2023 | General |
You know the more I investigate cyber security for my procedure manual the more I am thinking, most for those attempting to prove themselves experts, don’t know what they are doing. A vast number of them seem to just spew buzz words that don’t say anything. I include...
by Leif Jensen | Aug 8, 2023 | General |
As I was looking for an outline for our Cyber Security Manual, l I stumbled upon this whitepaper. I found it interesting enough to summarize here. Change – Organizations face a constantly changing array of pressures from multiple external sources. Compliance...
by Leif Jensen | Aug 7, 2023 | Rant |
100 years ago, when I was growing up and network television was alive and well with all three channels and one PBS channel and 3 local channels. I watched cartoons (I still do, a lot of the same ones from my youth via DVD). One of my favorites was Yogi Bear. It...
by Leif Jensen | Aug 2, 2023 | General |
Did you know that 95% of breaches are due to human error? I admit I was not surprised by this number. What did surprise me was that 91% through e-mail, this was a bit of a shock. MyDoom did $38.4 billion in damage, there are also 4 million records are stolen from...
by Leif Jensen | Aug 1, 2023 | General |
How many of you are using AI regularly? Do you Alexia? Play chess online? How about Amazon shopping recommendations? All utilize AI, so you have been using AI without even knowing it. Chat GPT newest iteration of AI. ChatGPT is a large language model-based chatbot...
by Leif Jensen | Jul 31, 2023 | Running a Business |
I was on a webinar regarding risk and the issue of a cyber insurance policy was given. So, I contacted my agent to see what kind of coverage I had. Apparently, I only have an endorsement that is very limited in scope on my main package that covers data breach...
by Leif Jensen | Jul 26, 2023 | Taxes |
What happens when you distribute Trust assets and don’t pay the taxes? You guessed it… The IRS can go after heirs and trust beneficiaries for unpaid estate taxes. It doesn’t matter that they received property years after the decedent’s death, an appeals court...
by Leif Jensen | Jul 25, 2023 | Rant |
A woman wins her home-seizure case before the Supreme Court. Failing to pay home property taxes for several years can result in the county where you live confiscating the property and selling it at auction. But who is entitled to the excess amount if the sales...
by Leif Jensen | Jul 24, 2023 | Retirement, Running a Business |
The deadline to have a retirement plan has either passed or coming due shortly for IL businesses. Employer registration deadlines State law now requires every Illinois employer with five or more employees to offer their own retirement program or facilitate Secure...
by Leif Jensen | Jul 19, 2023 | Taxes |
Professional gamblers have different rules than recreational gamblers. Some gamblers can file Schedule C if their gambling activity is extensive enough to rise to the level of a trade or business. This is a difficult hill to climb, as shown in a recent case (Mercier,...
by Leif Jensen | Jul 18, 2023 | Taxes |
Everybody knows or should know that you make, earn, win or steal money; you will owe the IRS a percentage of those funds. So here are some tax rules for recreational gamblers: Whether you are playing the slots, betting on sports or buying lottery tickets, IRS wants a...
by Leif Jensen | Jul 17, 2023 | Rant |
I have been hearing more and more about Generative AI. So, I watched a webinar to get a better understanding. One I never received my CPE for the webinar, but even worse I never got a decent definition of Generative AI. So, I went to the internet and found the...
by Leif Jensen | Jul 12, 2023 | Rant |
I was wasting some time and had on a section of an Arnold Schwarzenegger biography. He seemingly moved to the US in 1968 and as soon as possible he was investing in small rental properties. While he lived in a small sparse unit, every dollar he could he keep...
by Leif Jensen | Jul 11, 2023 | Taxes |
Can you gift an I bond before it matures and avoid an income tax hit? No. Like most people, you’ve likely been deferring reporting for federal income tax purposes the interest that you earned on the savings bond. Gifting away EE or I bonds to someone else before those...
by Leif Jensen | Jul 10, 2023 | Rant |
As crypto currencies become more unstable, the IRS continues to increase their scrutiny. Virtual currency under the IRS continues to be treated as a stock purchase, but the basis reporting is required to be done by the individual. We have seen more holding companies...
by Leif Jensen | Jul 5, 2023 | Rant |
The IRS is addressing the increasingly popular way of paying college athletes. Guess it is never too early to start the “brand”… Since the Supreme Court ruled that college athletes can be compensated for their name, image and likeness, college boosters have started to...
