by Leif Jensen | Jun 19, 2024 | Running a Business |
Hobbies and businesses are treated differently when it comes to filing taxes. The biggest difference between the two is that businesses operate to make a profit while hobbies are for pleasure or recreation. Whether someone is having fun with a hobby or running a...
by Leif Jensen | Jun 17, 2024 | Running a Business |
Beneficial Ownership Information Report are required reports that need to be filed. I have just completed the Beneficial Ownership Information Reports for the companies that I own or am active with such as a NFP run by one of my sons. Yes, NFP’s need to file as...
by Leif Jensen | Jun 12, 2024 | Running a Business |
If you own and run an S-Corporation you are supposed to pay yourself a reasonable salary. Granted the IRS does not define reasonable salary, but there should be a salary. I work with a client whose son-in-law is retired and receives no Social Security, he had run his...
by Leif Jensen | May 8, 2024 | Running a Business |
As I was reading a biography om Hershey and Mars, I learned that three chocolate companies that were started in the late 19th century are still in existence. I was flabbergasted. Since the book was written in the 1990’s, I thought I needed to verify that they do...
by Leif Jensen | May 6, 2024 | Running a Business |
Most true entrepreneurs will crash and burn several times before they find the correct course for themselves. In fact, I feel that I cheated a bit, I slowly moved into my own business, it started as a side gig. Then, I had a worked as fractional CFO for a couple of...
by Leif Jensen | Apr 15, 2024 | Running a Business |
One of my clients recently had to let go of an employee who had some unpleasant business in their background. Their hiring process are lax and they had no reviews are ever done on any of the employees. I hope that they step up their process. For my lemonade stand,...
