by Leif Jensen | Feb 6, 2018 | General |
We have a client that came to us with a problem. They had done their own taxes for 2014 and 2015. They were Turbo-Tax users. In 2014 they had made an extraordinary contribution to their church, but because of their use of Turbo-tax, the software defaulted to the...
by Leif Jensen | Feb 5, 2018 | General |
My wife and I were thinking of seeing the movie “Darkest Hour” but it was not playing at an AMC theater. We are surrounded by AMC theaters only (Niles, Mt Prospect, Rosemont, and Schaumburg). Never mind that I resent coughing up money to China to see a US film; but...
by Leif Jensen | Jan 31, 2018 | General |
Is it true that the biggest reason for wealth inequality in the U.S. is that many Americans are uninformed about investing? Granted research has shown that the pre-tax income for the bottom 50% of earners in the U.S. has dropped since the 1980’s. And a full 36% of...
by Leif Jensen | Jan 30, 2018 | General |
You always need to be sure whom you do business with as the details of this court case show. Of you have partners have an operating agreement even in an S-Corp. A locked-out shareholder has to report her share of S corporation income on here individual return. A...
by Leif Jensen | Jan 29, 2018 | General |
If you have a side business, there are things you should be doing to ensure that the business is not a hobby. A ranching operation that lost millions is not a hobby, according to the Tax Court. A man who ran the venture in addition to his day job as an economist is...
by Leif Jensen | Jan 24, 2018 | General |
Huzzah! Small employers get guidance on health reimbursement arrangements. A 2017 law lets eligible firms, defined as those with fewer than 50 employees that don’t offer group health insurance, to reimburse workers for health insurance and medical expenses if they...
