by Leif Jensen | Jan 26, 2015 | General |
As we all know, many workers’ had a goal of retiring at 65 or sooner. Unfortunately the lack of preparation savings and the “Great Recession” delivered a severe blow to these people’s balance sheets as well as to their plans of retirement. It now seems that fewer than...
by Leif Jensen | Jan 20, 2015 | General |
I was watching a new program recently, in which a politician was being interviewed. Since this interviewee was a Democrat I was surprised when they cautioned that government needs to be diligent as to where government should be expending resources. The interviewee...
by Leif Jensen | Jan 19, 2015 | General |
It has been expressed in the news that the filing season in 2015 for your 2014 taxes will be one of the most trying in years; according to the IRS Commissioner. The IRS will be understaffed and will not be available to all, for assistance if answering questions to...
by Leif Jensen | Jan 14, 2015 | General |
As a small business owner I know how important great staff is to the success of a business. But the impact of those employees that are not great and their impact on the business are terrifying at some levels. An assistant who does not keep up on client follow-ups A...
by Leif Jensen | Jan 13, 2015 | General |
It seems that entrepreneur bachelor degrees are in the news. A number of Ivy League institutions are in the process of revamping their tired entrepreneur bachelor degrees. More and more Millennials believe that the way to make their fortune and pursue dreams of...
by Leif Jensen | Jan 12, 2015 | General |
The interconnection of everything in our lives especially from our work to our homes and vehicles through the internet of things is the vision of the future. Consider your refrigerator e-mailing you that you need milk. Having the house thermostat recognizing your...
by Leif Jensen | Jan 6, 2015 | General |
I was reading an article that was spelling out steps that entrepreneurs should be doing differently to get started. This is one of those articles that have 5 steps spelling out in big letters just what should be done. Basically all of the points told the same point,...
by Leif Jensen | Jan 5, 2015 | General |
I am working with a young client who realizes that they have been making some mistakes with their money. This is an interesting issue, especially since I am aware of those much older in exactly the same situation. As expected there is limited income, credit card debt...
by Leif Jensen | Jan 2, 2015 | General |
If your spouse passes during the year; both are considered married for the entire year and for filing status purposes. Now if the surviving spouse remarries before the end of the year, the dead spouse if forced to have a tax return filed on their behalf as “Married...
by Leif Jensen | Dec 30, 2014 | General |
A court decree of annulment holds that there was no valid marriage ever existed. Taxpayers who have secured an annulment are now considered unmarried for the entire period that the marriage purportedly existed. It makes sense that the couple initially filed tax...
by Leif Jensen | Dec 29, 2014 | General |
I recently met with a potential new client. They were a referral for an existing business client. The fact that he was a referral helped because he already knew the value that I could bring to his business. During our meeting we were hired. The gentleman come to...
by Leif Jensen | Dec 23, 2014 | General |
They are both inevitable and unfortunate facts of life; death and taxes. But planning for both really should go hand in hand. Also, I personally believe that everyone should have a plan for both regardless of current net worth. I am currently working on a few...
by Leif Jensen | Dec 22, 2014 | General |
Congress has renewed the exclusion for up to $2 million of forgiven debt on your primary residence. Next year this will or would be great news for a client of mine. He’s going through a slow divorce and their home is in foreclosure. The bank apparently has been...
by Leif Jensen | Dec 15, 2014 | General |
Beginning on Jan. 1, 2015, the standard mileage rates for the use of a car, van, pickup or panel truck will be: 57.5 cents per mile for business miles driven, up from 56 cents in 2014 23 cents per mile driven for medical or moving purposes, down half a cent from 2014...
by Leif Jensen | Dec 10, 2014 | General |
I once had a client that did not want to have us come in on a monthly or quarterly basis to look over the QB file. They insisted that they were maintaining their file, but they were doing so by several part time employees and the owner. None of which had any...
by Leif Jensen | Dec 9, 2014 | General |
What are the ethics of asking for help when you know that you will never hire that person to work for you? I know that this has happened to me. I know/knew a person who always seemed to seek me out to get my opinion on a topic about every other time I saw them. Now...
by Leif Jensen | Dec 8, 2014 | General |
I recently read an article or rant(?) from Suze Orman, who stated that no one should ever have a car loan over 36 months. I guess it easier to be the case when dealers are giving them away as part of an endorsement deal, or if your employer was providing them to you. ...
by Leif Jensen | Nov 25, 2014 | General |
I was reading an article that I admit surprised me. It seems that our Constitutional rights for self incrimination do not extend to the use of our fingerprints. A Virginia court case had a judge rule that the police, who suspected incriminating evidence on his...
by Leif Jensen | Nov 24, 2014 | General |
As usual, now that an election has occurred some thoughts turn to tax reform. Not that the idea is ever too far away. The current idea is to revamp just the tax rules for corporations, though most believe that this will go nowhere. But there is bipartisan agreement...
by Leif Jensen | Nov 18, 2014 | General |
I recently had a discussion with a client concerning some year end tax planning. He was talking to his financial advisor about converting some of his Traditional IRA into a Roth. The idea behind this is some early estate planning. His assets are positioned in such a...
