by Leif Jensen | Dec 19, 2016 | General |
DO you have a financial plan? If so when was it originally done? When did you last have it updated? How often should you have it updated? The answer to some of these questions in my mind actually rests with how close you are to retirement. I am aware of...
by Leif Jensen | Dec 14, 2016 | General |
We are working with a new client that had themselves set-up as an LLC. A Sole LLC! A Sole LLC is a disregarded entity as far as the IRS is concerned. They are required to file a Schedule C with their personal tax return. This is also an entity type that I am...
by Leif Jensen | Dec 13, 2016 | General |
In a recent case a married couple had their gambling losses disallowed due to their shoddy recordkeeping. They were not able to use their gambling losses to offset winnings, according to the Tax Court. The couple worked as house poker players at a...
by Leif Jensen | Dec 12, 2016 | General |
The IRS is out there attempting to catch tax cheats. I just read about on way in which they were successful. The IRS has agents go under cover posing as prospective buyers of a taxpayer’s business. It seems that this was done in order to get the seller to reveal that...
by Leif Jensen | Dec 7, 2016 | General |
What is your management style? Long ago I was interviewing with a very timid Controller. I remember her as a very mousey person, very unsure of herself, especially since she was hiring a peer. If I remember it correctly she was going to become Treasurer and...
by Leif Jensen | Dec 6, 2016 | General |
We have had some clients pass recently. Some were surprises other were as expected and can be. What we all need to do is have a plan or as much of a plan as possible for these circumstances. There should be wills, trusts and estates set up and funded. ...
