by Leif Jensen | Dec 22, 2016 | General |
For personal taxes the timing rules differ for tax-deductible items, such as charitable donations. So long as the checks are in the mail by year-end, you are able to lock in a 2016 write-off. For deductible charges made with a bank credit card, you can claim...
by Leif Jensen | Dec 20, 2016 | General |
As we progress into the Age of the “Internet of Things” seemingly everything from baby monitors to the US electric grid is vulnerable to hackers who are able to exploit lax security and wreak havoc on businesses and individuals. Beyond the thoughts of a major...
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...
