by Leif Jensen | Sep 5, 2011 | General |
Potentially headed to the Supreme Court is an appeal case out of Texas. The state court upheld a tax that charges a $5-a-customer fee levied on clubs that sell alcohol on the premises where live nude entertainment is the venue. The Texas court’s view that the tax is...
by Leif Jensen | Aug 31, 2011 | General |
From the WSJ: Between 2000 and 2010, minorities accounted for 98% of the population growth in large metropolitan areas. This rapid expansion has caused big shifts in racial composition: Between 1990 and 2010, the share of the white population in big metropolitan areas...
by Leif Jensen | Aug 28, 2011 | General |
As most know by this point I encourage all of my clients (and anyone else that will listen) to find their passion and start a side business. As time goes on I feel that this is getting more important than ever. As the data increasing shows companies are becoming more...
by Leif Jensen | Aug 27, 2011 | General |
As I grew up I was never included with the Baby Boomers, I was in something called the 13th Generation. But, it started in late high school to early college, which all of a sudden I was thrown in with the Boomers and was told that Sputnik, the Beatles, the Kennedy...
by Leif Jensen | Aug 27, 2011 | General |
Currently in the US the population is approximately split between 53% women and 47% men. By the year 2020 it is expected that minorities will be a minimum of 40% of the total population. So when am I eligible for affirmative action?
by Leif Jensen | Aug 27, 2011 | General |
Baby Boomers continue to hang on and dictate terms. It is projected that over the next decade that they will control over 50% of all disposable income. Those 55 to 65 will also continue to have the highest small business formation rate. This on top of a see-sawing...
by Leif Jensen | Aug 26, 2011 | General |
As things progress and the business world continues to evolve there are a number of changes that are being predicted. Independent contingent workers will exceed 40% of total US workforce by 2020, and be an even higher % in Europe. • Self‐employment, personal and small...
by Leif Jensen | Aug 25, 2011 | General |
The following search engine information was recently shared with me. I knew that Google was number 1 but not by that much. It is startling what they have accomplished in a relatively short time. December 2010 Search Engine Market Shares 64.3% Google 18.8% Yahoo...
by Leif Jensen | Aug 25, 2011 | General |
Damn, is it possible I will need to be fingerprinted again? The IRS is planning to roll out a fingerprinting process, which will likely impact the non-CPA staff of CPA firms who are considered non-signing preparers and are required to obtain a preparer tax...
by Leif Jensen | Aug 18, 2011 | General |
You have no privacy, if you believe that you do you are mistaken. Major websites are using tracking software from a company called EPIC. This has been used to track people’s online activities using powerful new methods that are almost impossible for computer users...
by Leif Jensen | Aug 15, 2011 | General |
It seems the beginning of the end for Not-for-Profits may be starting. The IRS has started to scrutinize Not-for-Profit (NFP) reporting and then revoked thousands of NFP statuses. Then you have California reviewing what a NFP does for the residents of the state; to...
by Leif Jensen | Aug 15, 2011 | General |
Audits, conducted by Immigration and Customs Enforcement (ICE), a unit of the Department of Homeland Security, started by the Obama administration in 2009, put the onus on business to police workers. They require companies to turn over employee records to federal...
by Leif Jensen | Aug 14, 2011 | General |
The constant misclassifying of workers as independent contractors tends to increase the tax gap according to IRS studies show. The employees report a larger portion of their earnings than contractor; since contractor can deduct legitimate expenses such as phone,...
by Leif Jensen | Aug 14, 2011 | General |
I was discussing things with a client when I asked them how the were covered for life insurance. They informed me that they had plenty and they it was not an issue. They had 2 times their annual salary. When I then asked them a couple more questions, like how much...
by Leif Jensen | Aug 14, 2011 | General |
If your son/daughter or grandkid (emphasis on grandkid, parents have no money either) that was lucky enough to find a job, consider making a payin to a Roth IRA on their behalf. Since they probably spent their money. You can contribute up to $5,000, but not more than...
by Leif Jensen | Aug 10, 2011 | General |
We all know that the US owes a significant amount of money. The amount of debt has been a cause for much debate regarding the levels the reasons why, how to deal with it ans so forth. But one question not easily answered at least that I was aware of is where is the...
by Leif Jensen | Aug 6, 2011 | General |
I am wondering if it would be possible to have an expiration date on every law, tax and amendment on the books. If the government was required to re-pass everything every 10 years or so, what would our laws look like? Would the poor laws of the past still be laws? ...
by Leif Jensen | Aug 6, 2011 | General |
During August which is a slow time for tax issues, 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 you do businesses with beyond the mis-categorized...
by Leif Jensen | Aug 6, 2011 | General |
As the most recent hurdle of the tax debate recedes from the headlines; it should remain a concern for all. In 2008 the debt was 40% of GDP. In 2011 it will be 69% of GDP. Estimates with no spending cuts, have it hit 80% in 2014. With spending cuts, that may happen...
by Leif Jensen | Aug 5, 2011 | General |
“God forbid we should ever be twenty years without such a rebellion. The people cannot be all, and always, well informed. The part which is wrong will be discontented, in proportion to the importance of the facts they misconceive. If they remain quiet under such...
