by Leif Jensen | Oct 11, 2010 | General |
S Corporations are now the second most common business entity after sole proprietorship. Based upon their popularity the IRS has increased its scrutiny of them. The three areas they are focusing on are as follows: Misreporting items Personal expenses on the S corp...
by Leif Jensen | Oct 5, 2010 | General |
The sky is not falling. Quite frankly nothing is being done there is no movement at all. Congress gave up and walked away for the issues it faces. The Bush tax cuts will expire for all tax brackets. The Estate Tax will have a million dollar exemption and then be...
by Leif Jensen | Sep 10, 2010 | General |
Now that “King Richard” is not running all politicians seem to be lining up according to ethnicity lines. All coalitions are looking to back a single candidate along their ethnicity in a bold attempt to grab the keys to the city. We are also seeing politicians...
by Leif Jensen | Sep 10, 2010 | General |
I had recently read an article that struck me for being so basic that most people probably don’t even think about it. The basic function of running a business to generate a profit for the owner(s) period. Businesses are not run for the governments benefit to generate...
by Leif Jensen | Sep 1, 2010 | General |
As noted in Thomas Friedman’s “The World is Flat” white collar jobs are very easy to transfer to other countries. The US is projected to lose $136 billion in wages by 2015. This is from Forrester Research who states that the jobs will go to low cost countries such...
by Leif Jensen | Aug 31, 2010 | General |
It seems that women paychecks are finally going to exceed total male paychecks. Of the 122 million women age 16 years and over in the U.S., 72 million, or 59.2 percent, were labor force participants—working or looking for work. Women comprised 46.8 percent of the...
by Leif Jensen | Aug 31, 2010 | General |
The days are starting to get shorter. The kids are back in school. Fall is on its way and it is time for the Lightning Rod Salesman to come to town. The best time of year. Time to get back to work…
by Leif Jensen | Aug 1, 2010 | General |
I went to a GOA event a couple of weeks ago regarding the monetizing of LinkedIn. The event was a waste of time and I left after half an hour of a two hour event. All comments of those who stayed agreed and wished they left. Having further discussions with those...
by Leif Jensen | Aug 1, 2010 | General |
The unemployment rate in Illinois dropped to 10.4 percent in June from 10.8 percent in May, the biggest decline since 1983. But was this a real drop of did more people drop of the listing and stop looking for work. I know my guess of the actual rate of unemployment...
by Leif Jensen | Jul 19, 2010 | General |
I recently read a dull article in Crain’s Chicago Business regarding multipreneurs. Granted this was the first time I read the phrase, but it does define a number of clients and myself. The only definition I found was on Small Biz Sizzler which was: “A multipreneur...
by Leif Jensen | Jul 11, 2010 | General |
Outliers was definitely an interesting book. I actually stopped reading it from time to time to reflect and absorb the information. It uncovers the stories behind the success. It helps explain that it is the time and opportunities help to determine success as much...
by Leif Jensen | Jul 11, 2010 | General |
On July 6th 2010 this site had it’s highest viewership yet. 106. Considering that the highest daily viewing before was no where close. I am just shocked and am wondering if it is incorrect or a fluke. Either way thanks for looking.
by Leif Jensen | Jul 11, 2010 | General |
For all who have been investing in the stock market for the last ten years know; or should know. The Dow Jones Industrial average at January 4, 2000 closed at $10,921.92 and closed January 4, 2010 at $10,856.63. So we all experienced no growth for a 10yr period. ...
by Leif Jensen | Jul 11, 2010 | General |
I was talking to a client last week that was asking both his financial advisor and myself, when to start taking his Social Security. Lets take a step back and look at Social Security from a historical perspective. When FDR was president and he started implementing...
by Leif Jensen | Jul 11, 2010 | General |
A couple of clients have been asking for the distinctions of possible retirement savings plans, I hope this basic listing helps. SEP A SEP is a Simplified Employee Pension plan. Because this is a simplified plan, the administrative costs should be lower than for...
by Leif Jensen | Jul 6, 2010 | General |
To all taxpayers out there beware of Congress, if they do nothing regarding the Bush tax cuts. You know those tax cuts that were only for the rich that cut the bottom rate from 15% to 10%. If the current administration does nothing the bottom tier of the tax rate...
by Leif Jensen | Jul 6, 2010 | General |
I now believe that everyone should run for government office. Get elected get the pension and medical benefits for life and then start your own business. We all cannot be worse than the worst ones out there and my be better than the best of them.
by Leif Jensen | Jul 6, 2010 | General |
With the current administration planning to change the way an S-corporation is taxes for service businesses, so all profit will be subject to self employment taxes we are coming to a crossroads. I have always been a strong advocate of starting a small business. But...
by Leif Jensen | Jun 16, 2010 | General |
Does anyone other than accountants use a 10 key? If so am I the only one that is annoyed that the 10key keypad does not match the keypad on a telephone? When I go from the 10 Key to the phone I always miss dial because the numbers are upside down. This also makes me...
by Leif Jensen | Jun 16, 2010 | General |
As graduation season comes to a close, I want to offer my congratulations. But, some graduates now have something looming six months in the future. The begin of student loan payments. The luckiest ones have jobs and circumstances that will not make this an issue. ...
