by Leif Jensen | Jul 6, 2021 | Running a Business |
Reporting hobby losses continues to be an audit red flag, it has been and will remain so. The IRS is always on the hunt for taxpayers who year after year report large losses from hobby-sounding activities on Schedule C of the 1040 to help offset other income, such as...
by Leif Jensen | Jun 29, 2021 | Running a Business |
Deducting race car expenses through a construction firm draws IRS scrutiny. A father and son owned an S corporation that built houses and developed real estate. The son enjoyed car racing, so the company purchased a race car body and parts for the son to restore and...
by Leif Jensen | Jun 21, 2021 | Running a Business |
Seemingly good news for U.S. automakers planning their future shift to electric vehicles: The recent $2 billion settlement between SK Innovation and LG Chem, following a trade-secrets dispute between the South Korean battery manufacturers. The settlement means SK...
by Leif Jensen | Jun 7, 2021 | Running a Business |
Are you one of the many who regularly purchases roasted chickens from Costco? We tend to get ours from Sam’s Club; it’s on the way home. To keep costs as low as possible, Costco opened the $450 million facility in Nebraska in 2019, which processes about two million...
by Leif Jensen | May 26, 2021 | Investing, Money Management, Running a Business |
A number of business for sale state they are a turn-key operation, as well do a huge number of franchises for sale. But, a true turnkey franchise is in a “condition ready for immediate use, occupation, or operation,” according to a strict definition. In most cases, a...
by Leif Jensen | May 24, 2021 | Investing, Money Management, Running a Business |
Thinking of buying a business instead of starting one from scratch? If so, make sure you do your proper due diligence on the business before you pay. I have been watching “Restaurant Impossible” and I am flabbergasted at the price people supposedly paid for...
