by Leif Jensen | Jun 17, 2012 | General |
New York City’s Mayor Michael Bloomberg declaration against Coca-Cola and Pepsi’s jumbo sized drinks in his fight against obesity is unlikely to become a federal strategy. Lawmakers in both parties see Bloomberg’s proposed crackdown as a giant overreach of power. So...
by Leif Jensen | Jun 17, 2012 | General |
The evils of cell phones usage in Illinois. It is currently not illegal to use your cell phone except for the following: school zones, highway construction zones; novice drivers or the city of Chicago. But more and more employers are prohibiting workers from using...
by Leif Jensen | Jun 11, 2012 | General |
It appears that the IRS has changed their policy on issuing tax ID numbers. This change is vexing tax professionals. The agency has decided that it will issue only one FEIN per day to requesters, down from prior five. This announcement came last month from the IRS....
by Leif Jensen | Jun 11, 2012 | General |
Receiving a Form 1099-C on discharged debt does not always mean you owe tax. In a recent case a man who owed on his credit cards failed to pay up, and the credit card company eventually wrote off his debt. More than 10 years later, a firm that acquired the rights to...
by Leif Jensen | Jun 11, 2012 | General |
The final deadline is quickly approaching to become a “Registered CPA”. Illinois has been a two tiered state and has been moving towards a single tiered state. What that means is that “Registered CPA’s” have passed the CPA exam but have not maintained the educational...
by Leif Jensen | Jun 7, 2012 | General |
Are you paying for the hiring and training? I had a meeting this morning with a business consultant from a networking group. During the meeting we were discussing who my competition truly is for clients. He classifies CPA’s into three categories. The first is the big...
