by Leif Jensen | Apr 1, 2015 | General |
It seems that t IRS is planning on focusing on real estate foreclosures, discharged debts and short sales. The IRS has issued a new audit guide that instructs agents on tax issues to look for. They will be verifying whether the taxpayer have gains from a waived debt...
by Leif Jensen | Mar 31, 2015 | General |
This is turning into a surprisingly difficult tax season. It does not seem to matter whether it is a new client or a client with whom we have worked for a decade. We have experienced incorrect basis on 1099-B’s. We have had a 1099-R that did not include nor record a...
by Leif Jensen | Mar 31, 2015 | General |
When it is time to vote for politicians , especially those whose who impact my profession life get the thumbs up or thumbs down based upon how they have impacted me personally and professionally. Joe Berrios the Cook County Assessor has just lost my vote and should...
by Leif Jensen | Mar 24, 2015 | General |
I was meeting with a prospect and was reviewing their financials. Their business did not appear to be so successful; it had not made money for a number of years. Their personal also was bereft of income. Not the likeliest candidates for a bank loan. But when I was...
by Leif Jensen | Mar 23, 2015 | General |
This time of year is special, in that I basically get to touch base with everyone of my clients. When one was in to drop off his family’s paperwork we chatted a bit. He had just changed professions and finally gotten a new full-time job in a new profession. I asked...
by Leif Jensen | Mar 18, 2015 | General |
I was meeting with a client and we were discussing the financial situation of Illinois and Chicago. My client knows a number of people who have a personal knowledge of the debts of the difficulties with both entities. As we are all aware there is no simple solution...
