Monthly Archives: August 2012

Shareholder Compensation and Health Insurance Premiums

Posted on August 31, 2012 by William A Olson, CPA

If you have an S Corporation, this is a must read… S Corporation Compensation and Medical Insurance Issues When computing compensation for employees and shareholders, S corporations may run into a variety of issues. The information below may help to clarify … Continue reading →

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Calculating your total taxes paid

Posted on August 29, 2012 by William A Olson, CPA

Although it gets the most press coverage, your Federal Income Tax bill isn’t the only tax you pay. You also might pay State income taxes, real estate taxes, sales tax and taxes on your cable bill and cell phone bill. … Continue reading →

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Common Small Business Mistakes

Posted on August 27, 2012 by William A Olson, CPA

According to the U.S. Small Business Administration (SBA), a small business is one that employs fewer than 500 employees, a definition that applies to a wide swath of companies. In fact, the SBA says that small businesses account for 99.7% … Continue reading →

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Seven Tax Tips for Newlyweds

Posted on August 22, 2012 by William A Olson, CPA

Recently married? Here are seven tax tips you should know.

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Obama’s tax calculator.

Posted on August 20, 2012 by William A Olson, CPA

I’ll post Romney’s once he releases it… http://www.barackobama.com/tax-calculator/.

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How Mitt Romney gets away with paying about 13% in taxes

Posted on August 17, 2012 by William A Olson, CPA

Most, if not all, of Mitt Romney’s income is derived from long-term capital gains and qualified dividends both of which are taxed at a maximum rate of 15% (see below for details). Additionally, Mr. Romney uses substantial itemized deductions to … Continue reading →

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The Home Office Deduction Explained

Posted on August 9, 2012 by William A Olson, CPA

If you use part of your home for business, you may be able to deduct expenses for the business use of your home. These expenses may include mortgage interest, insurance, utilities, repairs, and depreciation. The home office deduction is available … Continue reading →

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What Some Investors Are Doing to Anticipate a Tax Increase

Posted on August 7, 2012 by William A Olson, CPA

What Some Investors Are Doing to Anticipate a Tax Increase

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