by Leif Jensen | May 19, 2021 | Investing, Money Management, Rant |
I have a client who is also a friend and each and every year he has some gambling winnings. I give him a little amount of grief over the winnings. We both know that his losses exceed his winnings. But with the restructuring of the Schedule A, my client no longer can...
by Leif Jensen | May 18, 2021 | Estate Planning, Investing, Money Management |
I have a client who has an adult child, that has some issues, and they want to make sure that they are in essence providing long term care. I recommended that they buy a six flat where they can earn enough from the 5 units so their child will always have a place to...
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...
