by Leif Jensen | Dec 1, 2021 | Running a Business, Taxes |
Are you a gig worker? Do you have a side hustle to make yourself some extra cash? Do you know that you are supposed to report that cash to the IRS as reportable income and possibly pay self-employment taxes on those monies? The IRS wants to raise public awareness of...
by Leif Jensen | Nov 23, 2021 | Economy, Employees, Running a Business |
Have you seen those cheesy Amazon commercial, where people are making all sorts of demands from an employer before they will deem to work for them? We all know that there are people who just don’t want to work. Well businesses have solutions to all of these people,...
by Leif Jensen | Nov 17, 2021 | Running a Business |
I am having unusual conversation with my logistic clients. They are living a nightmare. The work is there for the taking, but they can’t take is because they don’t have the trucks, or they don’t have the drivers. Retailers this holiday season simply can’t keep up...
by Leif Jensen | Nov 9, 2021 | Running a Business, Taxes |
S corporation owners that pay themselves low salaries should and will be a bigger IRS target, according to Treasury inspectors. Many S corporation shareholders take low salaries, so the bulk of their profits are passed through to their own 1040 individual returns free...
by Leif Jensen | Sep 7, 2021 | Running a Business |
Shoddy recordkeeping costs a tax preparer a large chunk of money. She can’t deduct her vehicle expenses, even though she used her personal car in her business. She claimed she drove 34,560 miles for business during the year, and she took the standard mileage...
by Leif Jensen | Aug 31, 2021 | Running a Business |
I have a client where I deal with the manager and not the owner. It is my understanding that the manager will eventually take over as owner, but after a number of years it had not happened just yet. The PPP forgiveness was a problem. The owner applied for the loans...
