by Leif Jensen | Jan 14, 2020 | Running a Business, Taxes |
Payroll tax scofflaws continue to be a major area of focus for the IRS. These are firms that withhold Social Security and Medicare taxes from employees’ paychecks, but use the withheld funds for personal expenses or to pay other creditors instead of sending the money...
by Leif Jensen | Dec 11, 2019 | Taxes |
I was reading an opinion piece in the WSJ about Warren and her “2 cents” Wealth Tax campaign, and it reminded me of this story. Granted the percentages have changed since this was first printed, but the meaning is still valid. Also, I think this was originally done is...
by Leif Jensen | Dec 10, 2019 | Corporate Entities, Running a Business, Taxes |
The goal of most business owners beyond profit is to protect their businesses and themselves. This is why the government has allowed people the ability to organize or incorporate their businesses. This is how at a basic level you can legally protect the individual...
by Leif Jensen | Nov 25, 2019 | General, Investing, Running a Business, Taxes |
I have known people who get creative in having others cover their mortgage payments. I personally never had the opportunity or the courage to try what they did on my own. The first person bought his parents’ home from them in his freshman year of college. He then...
by Leif Jensen | Nov 19, 2019 | Taxes |
Did you at any time during 2019, receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency? Yes or no? Big brother wants to know. This is an important question for the 2019 tax filing in early 2020. The IRS has redesigned...
by Leif Jensen | Nov 18, 2019 | Taxes |
The Social Security wage base rises next year to $137,700, this is a $4,800 hike. The Social Security tax rate on employers and employees stays pat at 6.2%. Both will continue to pay the 1.45% Medicare tax on all compensation, with no cap. Individuals also pay the...
