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...
by Leif Jensen | Feb 22, 2017 | General |
With all the talk and it is currently only talk, there is a question of what will happen with the gift tax? Most expect it to stick around in some form or another. It is considered to act as a backstop to help prevent income shifting from donors in high...
by Leif Jensen | Feb 21, 2017 | General |
Last Year I meet with a young man who was a financial advisor. I was impressed by how he presented himself but also how he described his process of working with his clients. It was not materially different from others I have worked with, but a certain earnestness...
by Leif Jensen | Feb 20, 2017 | General |
The Federal Reserve will be under tremendous pressure for the next few quarters to raise its benchmark lending rate faster than is has recently. Which will then have the trickle effect on higher costs on lines of credit, HELOC’s, mortgages, credit cards and down the...
by Leif Jensen | Feb 15, 2017 | General |
A couple of years ago, a couple of family members suggested going back to Disney for our vacation. So being the dutiful husband and father, I looked into it and the costs of a Florida trip and they were terrifying! The airfare and hotel costs were over double what a...
