by Leif Jensen | Sep 2, 2015 | General |
The news has been reporting on and off for the last few years about the possibility of increasing the minimum wage. Now there are people lining up on both sides of the issue, but the more vocal proponents are those who want the increase. But I also doubt that they...
by Leif Jensen | Sep 1, 2015 | General |
Hundreds of years ago in the dark ages of office productivity, workers toiled before computer terminals. These terminals were connected to a great computer, which required all slaved to be tethered to it for communication. These great computers were special and we...
by Leif Jensen | Aug 31, 2015 | General |
I ran into a client at an event the other week. This gentleman is a sales rep for a software company. He is very successful in his industry. But he had run into a problem with his company. There was a new sales rep that had the potential to make exactly the same as...
by Leif Jensen | Aug 26, 2015 | General |
I was talking to a banker the other week and we got on to the subject of money laundering. Yes, most of my discussions with bankers lead to the discussion of crimes and felonies. What can I say; I am curious on how the real world works and the mysteries I read are...
by Leif Jensen | Aug 25, 2015 | General |
Will the financial planners of the future be machines? Will a machine be able to dispense good investment advice? The answer for the moment seemingly is a yes for plenty of people. “Robo-advisers” are using technology to create investment advice and manage your...
by Leif Jensen | Aug 24, 2015 | General |
I received an e-mail for a colleague who had a referral that they could not handle and was requesting that if possible could I assist them. They were looking for assistance immediately. I was curious and I had an office day scheduled, so I accepted. This couple in...
by Leif Jensen | Aug 19, 2015 | General |
The act when you give something (an item or a favor), the other person naturally feels indebted to you – especially if the gift is unexpected. But also people do not like feeling indebted to others. We are hard-wired to balance the scales again as soon as possible....
by Leif Jensen | Aug 18, 2015 | General |
100 years ago I was working for a Finance Director company that I hated being associated with. I took the job because I had had a relatively long bout of unemployment before I was hired by Waste Management; a job I loved, I was working with a great team and had a...
by Leif Jensen | Aug 17, 2015 | General |
Last week I was meeting with a client, who was struggling a few years ago and is now on the rebound. But that in itself is the problem. When their business was struggling for income, they were forced to use up their reserves and got into debt. Even though the...
by Leif Jensen | Aug 12, 2015 | General |
I was talking to a CPA who I was meeting with the possibility of purchasing his practice. This unfortunately did not work out, but he had an interesting practice. At one point he was explaining that in the 1980’s and 90’s that he a number of “mob bosses” as clients. ...
by Leif Jensen | Aug 11, 2015 | General |
Last week I met with a client who had recommended us to one of their friends. I had written about this case when I first met with them. Upon review of the past tax returns, we believe that blatant fraud was incorporated into the preparation of both the business and...
by Leif Jensen | Aug 10, 2015 | General |
I recently met with a payroll processing sales person. She inquired as to how many zero balance S-Corps, did I process at the end of the year. I informed her that I did not do any. First there are a number of client whom handle their own payroll and I would not be...
by Leif Jensen | Aug 5, 2015 | General |
Remaining relevant is challenging. Whether you sell a product or a service the business environment in which you are working in is always in transition. For us as a CPA firm we have the changing tax laws, the FASB standards are constantly in flux. Report on a...
by Leif Jensen | Aug 4, 2015 | General |
Adoption of an automatic enrollment into a 401(k), has increased employee participation. This is bound to happen when they have no choice in the matter. But employers can also help improve participation and contribution levels in retirement plans by offering matching...
by Leif Jensen | Aug 3, 2015 | General |
Whoohoo! It seems that we as Americans are finally saving more. It just happens to not be in our employer-sponsored retirement plans. That is according to retirement market researcher Hearts & Wallets. According to the report the average annual household savings...
by Leif Jensen | Jul 27, 2015 | General |
How we got on the topic, I do not remember. But, I was having a discussion with banker and we got on the topic of bank robbery. I was joking that robbing a bank today would net you little to nothing. We no longer live in the days of John Dillinger. My banker stated...
by Leif Jensen | Jul 22, 2015 | General |
The independent contractor issue is getting more pressure and press for Uber, and many other companies. The Department of Labor is looking into the classification of independent contractor vs employees. The Department of Labor has rules in place and they are not new,...
by Leif Jensen | Jul 21, 2015 | General |
I have a client whom was late in filing their LLC return for a prior year. As part of our ongoing discussions I explained that there would be penalties for filing late. Below, I have included from the IRS’s website the calculations of these penalties: Late Filing of...
by Leif Jensen | Jul 20, 2015 | General |
It seems that times are definitely a changing… We are moving to the “Gig Economy”, the gig, or on-demand, economy is the new favorite business model that seems to be coming out of Silicon Valley these days. A few years ago there was a study by Intuit, in which they...
by Leif Jensen | Jul 15, 2015 | General |
Student loan debt continues to be a financial burden for more than just millennials. It seems that this problem is becoming a huge and growing problem for many aging Americans who are near or in retirement. According to the NY Fed, student loan balances among...
