Leif Jensen & Associates, Ltd. Certified Public Accountants

Leif Jensen & Associates, Ltd. Certified Public Accountants We are a full service CPA firm serving a wide array of clients including: individuals, corporations,

Leif Jensen and Associates provides Accounting, Bookkeeping, Payroll, Tax, and Consulting services for businesses and individuals.

09/23/2024

Facebook LinkedIn Twitter Google+ If you file your U.S. tax return late, you may face two primary penalties: the late filing penalty and the late payment penalty. The late filing penalty is 5% of the unpaid taxes for each month or part of a month that your return is late, up to a maximum of […]

09/18/2024

Facebook LinkedIn Twitter Google+ IRS updates draft version of Form 1099-DA, Digital Asset Proceeds From Broker Transactions; requests comments on form planned for 2025 The Internal Revenue Service today posted an early draft of the updated Form 1099-DA, which is the form for brokers to report certa...

09/16/2024

Facebook LinkedIn Twitter Google+ Normally, the passive loss rules bar deducting rental real estate losses. But there are two exceptions. The first is for real estate professionals who spend more than 50% of their working hours and over 750 hours each year materially participating in real estate as....

09/11/2024

Facebook LinkedIn Twitter Google+ Normally, the passive loss rules bar deducting rental real estate losses. But there are two exceptions. The first is for real estate professionals who spend more than 50% of their working hours and over 750 hours each year materially participating in real estate as....

09/09/2024

Facebook LinkedIn Twitter Google+ The income tax burden on high-incomers rose for 2021, per IRS statistics. The top 1% of individual filers paid 45.78% of all U.S. federal income taxes… up from 2020’s figure of 42.31%. They reported 26.3% of total adjusted gross income. Filers needed AGIs of at ...

09/04/2024

Facebook LinkedIn Twitter Google+ Most individual tax provisions in the 2017 tax reform law expire after 2025. They include tax rates and bracket changes, higher standard deductions, repeal of personal exemptions, the $10,000 cap on deducting state and local taxes on Schedule A, and others that we w...

08/28/2024

Facebook LinkedIn Twitter Google+ Classroom discussions, for students ages 12-18, cover various asset classes, risk versus reward and the power of compounding. Often, these areas are left out of traditional curriculums because they are considered nonacademic. However, these ideas overlap with the sa...

08/26/2024

Facebook LinkedIn Twitter Google+ Suppose that once a week, ten men go out for beer and the bill for all ten comes to £100. If they paid their bill the way we pay our taxes, it would go something like this… The first four men (the poorest) would pay nothing. The fifth would pay £1. […]

08/19/2024

Facebook LinkedIn Twitter Google+ Universal Basic Income (UBI) is a policy proposal that involves providing all citizens with a regular, unconditional sum of money, regardless of their employment status or income. The concept has garnered significant debate, with strong arguments both for and agains...

08/14/2024

Facebook LinkedIn Twitter Google+ The following hyperbolic proverb encouraging skepticism has been credited to the master of mystery and the macabre Edgar Allan Poe: “Believe half of what you see and nothing of what you hear” Poe wrote this quote in 1845, in 2024 we can’t even believe half of ...

08/12/2024

Facebook LinkedIn Twitter Google+ Independent contractors need to complete Form W-9 for several important purposes: Providing tax information to clients: The W-9 allows contractors to provide their legal name, address, and taxpayer identification number (TIN) to the companies they work for[1]. This....

08/07/2024

Facebook LinkedIn Twitter Google+ So I have already highlighted some side gigs that take time and expertise with no guarantee of making a nickel. Here are some more that need real skills to even contemplate. Invest in dividend-paying stocks: Purchasing shares of companies that regularly distribute d...

Address

1881 Commerce Drive, Ste 105
Elk Grove Village, IL
60007

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 5pm
Saturday 9am - 1pm
Sunday 8am - 4pm

Telephone

+18476909454

Website

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