by Leif Jensen | Mar 17, 2012 | General |
Have you ever wondered what happens to an owner who has less the 51% and is kicked out of the business? You were right it can be your worst nightmare. There has been a recent court case on this matter. A locked-out partner still has to report his share of partnership...
by Leif Jensen | Mar 17, 2012 | General |
It seems the IRS keeps issuing refunds to those who should never have them, and holding up those who should. They made improper payments of refundable tax credits. In 2011, the agency figures that it wrongly refunded up to $17 billion in earned income credits. Many...
by Leif Jensen | Mar 17, 2012 | General |
Those of us who are unemployed and who are unable to pay their 2011 taxes on time get a break. The IRS will allow them six extra months to pay the taxes due without penalty. Those who qualify are wage earners who were jobless at least 30 consecutive days in 2011 or...
by Leif Jensen | Mar 17, 2012 | General |
Apparently the first group of unenrolled preparers have passed the minimum competency test, scoring 70% or better on the test. This test is 120 multiple choice/true false open book exam on the 1040 only, that allows three hours to complete. Those who pass a tax...
by Leif Jensen | Mar 17, 2012 | General |
Winning the lottery can be a huge once in a life time event. Unfortunately many have little to no plan on how to properly deal this event. Here there was some planning but not nearly enough. In a recent court case a lotto winner who generously gave part of her prize...
by Leif Jensen | Mar 6, 2012 | General |
Have you purchase an e-book form Amazon? Do you know that you don’t own that book? This is a surprise to most when they find out. An e-book is definitely different from a real physical book. Most people believe that they do own it, even if there is nothing to...
