by Leif Jensen | May 11, 2021 | Investing, Money Management |
One of my virtual currency investing clients strongly suggested that I become an expert is how the IRS handles the taxation aspect of virtual currencies. I agree with this advice. Virtual currencies are out there and everyone seems to want to get in on the ground...
by Leif Jensen | Nov 3, 2020 | Money Management, Running a Business |
I was watching the American Express Summit where Shaq was describing a time when he asked a wealthy restaurant owner how he was able to maintain his wealth. Apparently, the answer was blissfully simple, if you have the where withal to be able to accomplish it. I am...
by Leif Jensen | Apr 6, 2020 | Money Management, Rant, Running a Business, Taxes |
The IRS’s private tax-debt-collection program is raking in the dollars. From its April 2017 start through Sept. 30, 2019, four private firms have collected about $300 million in revenue from seriously delinquent taxpayers. Compare this with the program’s $132 million...
by Leif Jensen | Mar 16, 2020 | Investing, Money Management |
Surprise, the IRS is intensely interested in filers who transact in virtual currencies. They are requiring more disclosure. Starting with returns filed this year, people must answer on Schedule 1 of the 1040 whether they’ve received, disposed of, sold, exchanged or...
by Leif Jensen | Feb 11, 2020 | Money Management |
Bankrate’s January Financial Security Index survey reveals that just four in 10 U.S. adults (41 percent) could cover the cost of a $1,000 car repair or emergency room visit using savings. This is not surprising, since we have been hearing about these reports for...
by Leif Jensen | Feb 4, 2020 | Estate Planning, Money Management |
There is now a tightening on the distribution timeline for inherited IRAs and workplace retirement accounts. Many need to be cleaned out within 10 years of the death of the IRA owner or 401(k) participant. The exceptions allow payouts over the beneficiary’s life...
