by Leif Jensen | Dec 23, 2015 | General |
I have been looking into rental properties on and off for over a decade. I remember looking at the top of the market, thinking that the properties were so overpriced I would never ever make any money off of them. I am thrilled that were did not buy any of them....
by Leif Jensen | Dec 22, 2015 | General |
I was meeting with a reporter a few weeks ago and he was surprised when I mentioned that I strongly recommend having a Board of Advisors for their businesses. I believe that no small business owner should have to make decisions in a vacuum. The roundtableing of ideas...
by Leif Jensen | Dec 21, 2015 | General |
I was recently meeting with a client and we were discussing their yearend tax planning strategy. They have come into some money and we were attempting to calculate their tax liability. As we progressed in the discussion I was asking them about their asset...
by Leif Jensen | Dec 16, 2015 | General |
I know FBAR to me… No the FBAR is not an insult it just looks like one. It is Foreign Bank and Account Reporting, I believe. Because the IRS reports it as “Report of Foreign Bank and Financial Accounts” which would be FBFA or RFBFA. SO I will go with my guess. Who...
by Leif Jensen | Dec 15, 2015 | General |
It was recently addressed to us as tax preparers that we have to take a further step than we may have taken in the past to on the American Opportunity Credit (AOC). Especially with today’s youth they believe that it is their right and privilege to use controlled...
by Leif Jensen | Dec 14, 2015 | General |
I was at a seminar where a commitment ceremony was described. The group discussed what, if any, legal standing this ceremony had. We all agreed that there were no legal grounds for this to be considered an official marriage. There were no legal documents signed or...
by Leif Jensen | Dec 9, 2015 | General |
Who is a dependent? This used to be such a simple question. But as our live have become ever more complicated and our romantic entanglements split and shred it becomes ever more complicated Here is something from the IRS instruction manual to assist… Is Your...
by Leif Jensen | Dec 8, 2015 | General |
I personally like the idea of a voucher system for children to go to the schools that will best suit them and their parents. Yes, I have read the hundreds of long articles against vouchers written for or by educators whose jobs hang on the current system, and the...
by Leif Jensen | Dec 7, 2015 | General |
The premium tax credit (PTC) is a refundable credit that assists eligible individuals and families with low or moderate income to afford health insurance purchased through a Health Insurance Marketplace (exchange). To get this credit, you must meet the requirements...
by Leif Jensen | Dec 2, 2015 | General |
If you listen to certain radio stations or watch late night tv you probably have heard or seen the commercials, claiming that working with their company will allow you to pay the IRS pennies on the dollars for what you owe. Surprisingly this is not a complete scam. ...
by Leif Jensen | Dec 1, 2015 | General |
We encourage a number of clients who express feelings of being trapped in a job, need to generate more money or are looking for options to think about starting their own business. Some actually start businesses and many others don’t. For those who do we council them...
by Leif Jensen | Nov 30, 2015 | General |
We have a Christmas party. Yes I know that this is no longer a PC claim and PC police are now tracking my every move and post for further hearsay. Yes I have Jewish people tied to my office, yes they are invited. No they are not offended. But they are currently...
by Leif Jensen | Nov 25, 2015 | General |
As we start the wind down of the year. Now is the time to act on tax issues and year end planning. Businesses should be making sure that they have valid up to date W-9’s for all of the Independent Contractors that are utilized. I am also talking about those whom...
by Leif Jensen | Nov 24, 2015 | General |
35% is acceptable… Apparently in a room of IRS managers a 35% hang-up rate is considered acceptable standard operating procedures for the IRS in not assisting tax payers and preparers with questions and concerns about the notices that were sent by the IRS. I received...
by Leif Jensen | Nov 23, 2015 | General |
The wealthy have made themselves invulnerable to lawsuits. As wealth managers have made fortunes by putting clients funds into Cook Islands asset-protection trusts, clients such as the Rothschilds and the lesser known wealthy families of the world have done. In...
by Leif Jensen | Nov 18, 2015 | General |
Oxfam is estimating that the top 1 percent of the world’s population will own more than 50 percent of the world’s wealth by 2016. Oxfam is an international confederation of 17 organizations working in approximately 94 countries worldwide to find solutions to poverty...
by Leif Jensen | Nov 17, 2015 | General |
Surprise, e-signatures are one of the fastest growing global practices, basically because of their convenience. What we don’t really know is whether people perceive e-signatures to be equivalent symbol of a traditional hand written signature. Unless you take the...
by Leif Jensen | Nov 16, 2015 | General |
On a recent Wednesday, I was with a client and we had to call the IRS to make sure that they received the forms we sent and make sure that everything was in place for their installment agreement. So we called the number on the last notice they received. This worked...
by Leif Jensen | Nov 11, 2015 | General |
There are many aspects of my bank that I really enjoy. No they do not give me free money, but like said I enjoy my bank. I don’t love it. But they do support seminars that provide CPE for CPA’s and all of the events are well worth mine and my staff’s time. They had...
by Leif Jensen | Nov 11, 2015 | General |
I was meeting with a couple of of my clients for the first phase of year-end tax planning. One of them made a mildly despairing remark about their skills. I quickly corrected her and then explained that these two women are the exception to the rule as far as...
