by Leif Jensen | Oct 4, 2023 | Taxes |
With the wild run up of property values, I have had a rash of clients selling rental properties. The offers were just too good to refuse. When I go over the gain calculation they are startled. They are thinking I sold for $500,000, I paid $200,000 I pay tax on only...
by Leif Jensen | Sep 11, 2023 | Taxes |
Surprise a tax that starts to effect those who thought it was a good idea to tax the rich, it turns out they are the rich, themselves. More people each year pay the 3.8% surtax on net investment income. This tax, which was enacted as part of Obamacare, applies to...
by Leif Jensen | Sep 5, 2023 | Taxes |
The Service now addresses the taxation of crypto rewards received through staking. Some taxpayers have taken the position that token rewards they received through a proof-of-stake blockchain are created property that isn’t taxed on receipt, but instead, on...
by Leif Jensen | Aug 30, 2023 | Taxes |
Interaction with the PPP loans, wages covered by PPP loans are not eligible for ERTC credits. Interaction of the ERTC and other payroll-related credits. Wages used for the following credits generally can’t also be used for purposes of claiming the ERTC: The tax credit...
by Leif Jensen | Aug 28, 2023 | Taxes |
We have all heard the promoters and their outrageous claims about getting your money that is owed to you and your business under the ERC rules. The ERTC rules are complex, and Congress changed them on three different occasions, just to make them more complicated. With...
by Leif Jensen | Jul 26, 2023 | Taxes |
What happens when you distribute Trust assets and don’t pay the taxes? You guessed it… The IRS can go after heirs and trust beneficiaries for unpaid estate taxes. It doesn’t matter that they received property years after the decedent’s death, an appeals court...
