by Leif Jensen | Jan 28, 2019 | General |
Surprise small businesses are also at risk for identity theft. Businesses and their employees can and have had their identities stolen and their personal information used to open credit card accounts or file fraudulent tax returns to obtain false refunds. In the past...
by Leif Jensen | Jan 23, 2019 | General |
Traders are those who approach trading investment property as a full-time business: rather than as a hobby and generally receive their primary income from their trading activities. Their trades are frequent, regular, continuous, and substantial. They trade solely for...
by Leif Jensen | Jan 22, 2019 | General |
In 2014 the IRS issued Notice 2014-21 to provide guidance and some basic tax principles concerning virtual currency (i.e. Bitcoin, Litecoin, Monero, Dogecoin,NEM, etc.). The notice establishes that virtual currency is to be treated as property. So as property, the tax...
by Leif Jensen | Jan 21, 2019 | General |
I was on a webinar recently and one of the slides showed that a mere 1% of “things” that could be connected to the internet currently are. So apparently “we” are not moving as fast as originally anticipated in embracing the “IOT”. But the presentation did state that...
by Leif Jensen | Jan 16, 2019 | General |
A few years ago I met and individual who was a guest at a networking event. He was a definite self-promoter always looking for the next way to make money. At the meeting we were seated together and at some point he turned to me and asked why I was there? Before I...
by Leif Jensen | Jan 15, 2019 | General |
There was a large subgroup of people who were able to itemize and deduct Miscellaneous Itemized deduction on their Schedule A after the expenses surpassed 2% of Adjusted Gross Income (AGI). All of these expenses were eliminated as deductible under the new tax law. A...
