by Leif Jensen | Jul 10, 2011 | General |
A financial professional’s bad advice was grounds to waive the 60-day IRA rollover rule, IRS stated privately. At retirement, a couple transferred their 401(k) balances into IRAs. Their financial adviser stated that they should take the amounts in their IRAs and roll...
by Leif Jensen | Jul 10, 2011 | General |
The IRS will not consider further increases on filing extensions for partnerships, estates and trusts. The current five-month extensions will be granted, but nothing further. The rational is that individual partners, heirs and trust beneficiaries who requested filing...
by Leif Jensen | Jul 10, 2011 | General |
The Tax Court has ruled that a taxpayer’s poor investment decision doesn’t lead to a theft loss write-off. On a parishioner’s advice, a filer took funds from his IRA and bought stock in a company. The firm delayed issuing stock certificates to him, so he feared he had...
by Leif Jensen | Jul 4, 2011 | General |
I found this little article on the Chicago Bar Association website regarding how Cook County Property Taxes are calculated. Your Cook County real estate tax bill is the result of the assessed valuation of your real estate multiplied by an equalization factor and then...
by Leif Jensen | Jul 4, 2011 | General |
Cook County Illinois Having recently lost a property tax appeal, I was commiserating with a client whom had also failed in their appeal well. They had been informed that the foremost reason was that they were still paying their property tax bill and the county will...
by Leif Jensen | Jul 4, 2011 | General |
It seems it may be time to start looking like a stereotypical accountant. According to the Vision Council of America, approximately 75% of adults use some sort of vision correction. About 64% of them wear eyeglasses, and about 11% wear contact lenses, either...
