by Leif Jensen | Mar 8, 2017 | General |
I am currently working with a couple who both lost parents last year. The differences between the couple’s two parents are striking. For the first one the family knows where all of the assets are and the documents are current. But there are special...
by Leif Jensen | Mar 7, 2017 | General |
The simplest way to help protect yourself from tax-related identity theft this tax season is to file your tax return early. Thieves who are using stolen identities to seek refunds on fraudulent returns typically file the fake returns early in the filing season...
by Leif Jensen | Mar 6, 2017 | General |
An employee who earned an MBA degree gets good news from the Tax Court. The cost can be deducted as an employee business expense on Schedule A. A man who worked as a product marketing manager decided to get an MBA degree with a focus on management and finance....
by Leif Jensen | Mar 1, 2017 | General |
A taxpayer has a scheme to avoid paying overdue taxes backfires for a corporation. On the day a company that owed back payroll taxes decided to close shop, its president and 40% owner formed a new firm to conduct the same line of business with the same workers....
by Leif Jensen | Feb 28, 2017 | General |
In a recent tax court case it was revealed that taking a large bad debt deduction leads to IRS scrutiny in this case. Through his S corporation, an investor advanced funds to small companies in return for financial control and a minority equity interest. (I am...
by Leif Jensen | Feb 27, 2017 | General |
Apparently suffering financial hardship does not let you tap your IRA penalty-free, according to the Tax Court. A taxpayer under age 59½ who lost her job and took payouts from her qualified dollars to assist in supporting her family. Afterwards the IRS...
