by Leif Jensen | Oct 25, 2011 | General |
President Obama’s refinancing plan will be a boon to least 1 million homeowners. But there is fear that it doesn’t get at the root of the housing crisis. Easing refinancing rules for one-tenth of the nation’s homeowners whose mortgages are underwater is beneficial and...
by Leif Jensen | Oct 23, 2011 | General |
It appears that more companies are looking to expand on U.S. soil rather than overseas in the coming months. Managers are starting to find that production costs in parts of the U.S. are cheaper than in some regions of China, once transportation expenses are taken into...
by Leif Jensen | Oct 18, 2011 | General |
In 1973, the median male worker earned just over $49,000 when adjusted for inflation, while in 2010 that worker made about $1,500 less. Yet, in the same period, the output of the economy has more than doubled, and the productivity of workers has risen steadily. [NPR]...
by Leif Jensen | Oct 16, 2011 | General |
We have a Tax Court case that actually seems to be beneficial for a taxpayer. Interest paid on a mortgage for a house that was never built is deductible. This couple took out a loan and bought a beachfront home. They tore it down and planned to build a new house on...
by Leif Jensen | Oct 16, 2011 | General |
The definition of a “Trader” continues to be defined. Frequent buying and selling does not a “trader” make, these are not the sole criterion to qualify per the IRS. The holding period of the securities is the key factor, according to the Tax Court. This case is a...
by Leif Jensen | Oct 16, 2011 | General |
According to the Tax Court, donating to a charity the right to use a timeshare unit is not a reportable donation. A trader and his wife donated a week’s stay in their Caribbean timeshare as a prize in a charity’s auction. They then claimed a charitable deduction for...
