by Leif Jensen | Apr 25, 2011 | General |
I was just read about the scam known as “less cash deposit” or “split deposit”. How it works is that a scammer gets their hands on someone’s deposit slips. Then the scammer forges a check out to the name on the deposit slip. The present the forged check for deposit...
by Leif Jensen | Apr 23, 2011 | General |
One question that we always like to discuss with our clients is their control over their cash. Now we are not just talking about their petty cash account or even their cash sales. These are important and procedures and internal controls should be reviewed to make...
by Leif Jensen | Apr 18, 2011 | General |
Saturday I met with a client who is just starting a new business. I was going over the typical basics; record keeping, banking, financing, business plans. But when we got to the location, we got into a more detailed discussion of what may well be the road for this...
by Leif Jensen | Apr 18, 2011 | General |
Full-time workers continue to have a hard time meeting the test to be a real estate pro, as a recent Tax Court case demonstrates. The passive loss rules don’t apply to losses of folks who spend over half of their working hours and more than 750 hours per year...
by Leif Jensen | Apr 18, 2011 | General |
A break for small firms on reporting the value of health coverage on W-2s: The IRS won’t require it for 2012 W-2 forms, either. The Revenue Service already suspended the reporting rule for 2011 W-2s that will be filed in early 2012. That relief applied to all...
by Leif Jensen | Apr 17, 2011 | General |
It has been repealed, President Obama has signed the legislation to repeal the expansion of the 1099 reporting rules. The law which scraps the requirement that businesses issue 1099s when paying $600 or more to corporations or for goods. Also gone is the rule making...
