by Leif Jensen | Jul 25, 2016 | General |
Surprise the IRS and the courts are sticklers on allowing business mileage write-offs. In a recent case a taxpayer used his personal auto in his business of marketing petroleum properties. For some activities, he kept a meticulous log with the exact miles...
by Leif Jensen | Jul 20, 2016 | General |
In another case an insider trader does not get a tax write-off for the forfeiture of his profits. A former executive was convicted of insider trading and sentenced to jail. He was also forced to return the stock sale gains that were derived from his crime, the...
by Leif Jensen | Jul 19, 2016 | General |
Have you ever wondered what the purpose of Qualified Plan audits? Uncle is looking for large participant loans are a key examination issue. During an audit, the IRS checks how plans handle loans, such as the time they allow for repayment and what happens upon...
by Leif Jensen | Jul 18, 2016 | General |
At this moment e-commerce sales are not now subject to sales tax collection for small out of state vendors. The basis for this is a Supreme Court decision that shields out-of-state sellers with no physical presence in the buyer’s home state from having to...
by Leif Jensen | Jul 13, 2016 | General |
How would you alter your business model if your main source of income was now illegal? You state it could never happen? Well remember prohibition? It may not be a real option that it could not happen, but are nimble enough to switch gears and stay in business?...
by Leif Jensen | Jul 12, 2016 | General |
I was introduced to a unique way looking at rationale for estate planning. The advisor quoted that there are only four reasons people typically do estate planning. Predators – sons and daughters in law, keep the cash away from them Outlive wealth – do not wish to run...
